Health Savings Account (HSA) — Ameris Bancorp

A Health Savings Account (HSA) with Ameris Bancorp is a flexible, tax-advantaged way to save and pay for qualified medical expenses today while building a tax-efficient nest egg for future health care costs. Designed for individuals and families enrolled in a High Deductible Health Plan (HDHP), an Ameris HSA combines everyday spending convenience with long-term savings and investment potential. Whether you use your HSA to cover routine medical bills or to invest and grow funds for retirement health care needs, Ameris Bancorp provides the tools and account structure to help you manage health care dollars more effectively.

Key Benefits

• Triple tax advantage: Contributions are tax-deductible or made pre-tax through payroll, growth proceeds are tax-deferred (and potentially tax-free), and qualified withdrawals are tax-free when used for eligible medical expenses.
• Portability: Your HSA belongs to you. If you change employers, switch health plans, or move locations, the account travels with you.
• Flexibility: Use funds for a wide range of qualified medical, dental, and vision expenses. Unused balances roll over year to year — there’s no “use it or lose it” rule.
• Long-term savings and investment options: Cash balances can be preserved for near-term needs while excess funds can be invested, offering potential for growth to help cover future health care costs.
• Convenient access: Debit card access, online account management, mobile banking, and electronic statements make it easy to pay and track HSA transactions.

Who Is Eligible?

To contribute to an HSA you must meet IRS eligibility rules. In general, eligible individuals must be covered by a qualified High Deductible Health Plan (HDHP), have no other disqualifying health coverage, not be enrolled in Medicare, and not be claimed as a dependent on someone else’s tax return. Contribution limits and specific details are set annually by the IRS; consult your plan administrator or tax advisor to confirm current limits and eligibility.

How an Ameris HSA Works

An Ameris HSA functions as both a spending account and a long-term investment vehicle:

• Deposits: Contribute via payroll deductions if your employer offers that option, or make direct contributions up to IRS limits for the tax year.
• Spending: Pay for qualified medical expenses with your HSA debit card or by transferring funds to your personal account. Keep receipts for records and tax reporting.
• Investing: When your HSA balance exceeds a minimum threshold, you may choose to invest in available options to pursue growth over time. Investment choices and minimums may vary.
• Rollover and portability: Unspent funds carry forward indefinitely and the account moves with you if you change employers or insurance plans.

Qualified Expenses

Qualified medical expenses are defined by tax rules and commonly include doctor visits, hospital services, prescription medications, dental care, vision care, and certain medical supplies. Expenses not considered qualified may be subject to taxes and penalties if withdrawn for non-medical purposes before qualifying conditions are met. Keep careful records and consult tax guidance when in doubt.

Fees and Account Details

Ameris Bancorp offers HSAs with transparent fee structures. Typical fees may include monthly maintenance fees, transaction fees, and investment-related fees. Some account features may have fee waivers based on balance thresholds or employer arrangements. Cash balances held in deposit accounts are eligible for FDIC insurance up to applicable limits when held in qualifying deposit products; investments are not FDIC-insured and are subject to market risk. Review the HSA fee schedule and account agreement carefully to understand applicable charges and protections.

Security and Account Management

Ameris Bancorp applies industry-standard security measures to protect your account information and transactions, including encrypted online access, multi-factor authentication options, and fraud monitoring. Online and mobile banking tools allow you to view balances, track expenses, download statements, and manage investments. Retain receipts and documentation to substantiate eligible withdrawals and to simplify tax reporting.

Tax Considerations

HSAs provide significant tax advantages. Contributions can reduce taxable income, growth may be tax-deferred or tax-free when used for qualified expenses, and timely, eligible withdrawals avoid income tax. Non-qualified distributions are generally subject to income tax and may incur an additional penalty if taken prior to certain qualifying events. After age 65, distributions used for non-medical purposes are treated as taxable income but are not subject to penalty. Consult your tax advisor for guidance tailored to your individual situation.

Common Questions

• Can I use my HSA to pay for family members? Yes, funds can be used to pay for qualified medical expenses of yourself, your spouse, and your tax dependents, subject to IRS rules.
• What happens to my HSA if I change jobs? The HSA remains your account; you can continue to use existing funds and make contributions if you remain eligible.
• Are investments required? No. You may keep funds in a deposit account for near-term needs or choose to invest a portion of the balance to seek long-term growth.

How to Get Started

Determine eligibility based on your health plan. If eligible, establish an HSA through Ameris Bancorp either via your employer-sponsored benefits program or by opening an individual account. Review account agreements, fee disclosures, and investment options to select the setup that best fits your short- and long-term goals. Decide on contribution levels, consider automatic payroll deductions when available, and develop a strategy for using and investing your HSA funds.

Smart Strategies for Maximizing Your HSA

• Contribute consistently: Treat HSA contributions as part of your regular savings plan to take full advantage of tax benefits.
• Build an emergency cushion: Keep a cash reserve in your HSA for current medical needs while investing surplus funds for the future.
• Document expenses: Keep receipts and records for qualified withdrawals to support tax filings and reimbursement claims.
• Coordinate benefits: Align HSA use with other health accounts like FSAs or HRAs according to applicable rules to maximize tax efficiency.

An Ameris Bancorp Health Savings Account is a versatile tool for managing health care costs while enjoying meaningful tax advantages and long-term growth potential. Whether you are saving for near-term medical expenses or planning for health care in retirement, an HSA can be an essential component of a comprehensive personal finance strategy.

Address Bank: Atlanta, Georgia, U.S.
Bank: Ameris Bancorp
Headquarters: Atlanta
Products: Retirement & Health
Type: Health Savings Account (HSA)