HSA Characteristics

If you would like to open an account please visit any one of our 36 branches.
Tiered Interest: $0-$999.99
$1,000-$2,499.99
$2,500-$9,999.99
$10,000 & above
Debit MasterCard®: Free
Service Charge: $3.00 per month
*$1.50 per month if customer has an LCNB Checking Account
Statements: E-Z Statement $0
Paper Statement $3.00
Minimum Balance: $0
Set Up Fee: $0
Withdrawals: Free
Opening Deposit: $50.00


A Health Savings Account (HSA) is a tax-favored trust or custodial account established exclusively for the purpose of paying qualified medical expenses of you, your spouse and your dependents.


You are eligible to open an HSA Checking account if you:


1. Are currently covered under a high-deductible health plan (HDHP).
2. Are not also covered by any other health plan that is not an HDHP*.
3. Combined balances include funds in checking, savings, CD's, and IRA's.
4. Are not enrolled in Medicare.
5. Cannot be claimed as a dependent on another person’s tax return.


A health plan qualifies as a High Deductible Health Plan if the annual minimum deductible is at least $1,250 for single coverage or $2,500 for family coverage and the maximum out-of-pocket limit is $6,250 for single coverage and $12,500 for family coverage for 2013. For 2014, the minimum deductible is $1,250 and the maximum out-of-pocket limit is $6,350 for single coverage. For family coverage the minimum deductible is $2,500 and the maximum out-of-pocket limit is $12,700. These figures are adjusted for inflation each year.

For tax year 2013, contributions are limited to $3,250 for single coverage and $6,450 for family coverage. For tax year 2014, the contribution limit for single coverage is $3,300 and $6,550 for family coverage. A catch-up contribution of $1,000 is available to persons age 55 and older. The contribution limits are adjusted for inflation each year. Contributions may be made for the prior tax year until April 15.

You can make no further contributions after age 65; however, the account may remain open

Effective January 1, 2011, it will no longer be permissible to use the HSA to pay for over the counter medications and other non-prescription drugs without a prescription. The penalty for non-qualified distributions is 20%.

Notes and Disclosures