Health Savings Account (HSA)

HSA PRODUCTS AND SERVICES OFFERED AT THE BANK OF KENTUCKY

The Bank of Kentucky offers an array of products and services to assist businesses and individuals in establishing Health Savings Accounts (HSAs). Refer to the summary below for more details and call our HSA Team today at (859) 372-5196.

HSA Checking Account

…an interest-bearing checking account that provides easy access to your money when covering qualified healthcare expenses

• No setup fee to open the account
• No minimum balance required to open the account
• No monthly service fee from The Bank of Kentucky
• Free unique HSA Debit Card ordered at account opening
• Free initial order of checks (50)
• Free monthly E-mailed statements (paper statements upon request for charge of $3 per month)
• Free Online Banking & Bill Pay at www.bankofky.com
• Better Banking Line available 24 hours a day, 1-800-811-8225
• Earn interest on balances of $500 or more*
    Click here for rates

HSA Money Market Sweep

…earn more on your money as balances grow with a sweep option that offers competitive rates and flexibility

• No setup fee to establish the Money Market Sweep
• $2,000 minimum balance required in HSA to setup the Money Market Sweep
• A monthly maintenance fee of $12 is assessed if the balance falls below $2,000
• Interest is earned on higher balances based on a tiered rate schedule*
    Click here for rates

HSA CD (Certificate of Deposit)

…an excellent way to manage excess funds in your HSA by taking advantage of the bank’s CD rates and flexible terms

• $1,000 minimum balance required to open an HSA CD
• An active HSA Checking Account with The Bank of Kentucky is required before an HSA CD is opened
• An HSA CD can be structured as short as seven days and as long as five years, similar to regular certificates
• Rates and terms offered on the HSA CD are equal to bank’s published rates for CD’s
    Click here for rates
• Penalty applies for early withdrawal

*Rates Subject to Change. Each depositor insured to at least $100,000.00

HSA Brokerage Account

…invest excess HSA funds by opening a self-directed HSA Brokerage Account with brokersXpress®

The HSA Brokerage Account opened with brokersXpress® is separate from the HSA Checking Account, from which all contributions and withdrawals must be made. The HSA Brokerage Account is not a deposit account held at The Bank of Kentucky. As a result, the HSA Brokerage Account is Not FDIC Insured and is subject to market fluctuations and may go down in value. Money held in the HSA Brokerage Account is titled in the name of the Custodian (“The Bank of Kentucky”) for the benefit of the accountholder.

• No setup fee to open the online HSA Brokerage Account accessed through www.bankofky.com
• An active HSA Checking Account with The Bank of Kentucky is required before an HSA Brokerage Account is opened
• $4,000 minimum balance required in the HSA Checking Account in order to open the HSA Brokerage Account
• $1,000 minimum opening transfer from the HSA Checking Account to open the HSA Brokerage Account
• Future transfers can be made from the checking account at no charge in minimum increments of $500
• brokersXpress® charges a flat fee of $14.95 for no-load mutual fund trades with all trades initiated by the customer online.
• A complete commission schedule is available by contacting brokersXpress®. (888) 280-7030
• brokersXpress® provides a monthly statement in addition to 24-hour online access at no charge

To open your HSA brokerage account click here.

Securities offered through: brokersXpress, LLC, Member FINRA/SIPC a Registered Investment Advisor
Corporate Office: 311 W. Monroe Street, Suite 1000, Chicago, Illinois 60606
www.brokersxpress.com, 888.280.7030

HSA Business Services

In addition to the HSA products outlined above for individual customers, The Bank of Kentucky assists any business or healthcare plan provider in setting up an HSA program for employees or groups. We open accounts remotely via mail, fax, or email and conduct on-site presentations and enrollments. In addition, we provide complete cash management capabilities allowing for electronic transfer of data and funds, as well as online access for efficient management of accounts.

Our HSA Team is ready to assist any company, plan administrator, agency, or individual with their HSA needs.

Call today and learn more about how we can help you, Steve Gillespie, Vice President, The Bank of Kentucky (859) 372-5196.