Health Savings Accounts

With a Health Savings Account (HSA) from Two River Community Bank, you can pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis. 


An alternative to traditional health insurance.

You own and you control the money in your HSA. You make the decisions on how to spend the money you’ve made without having to rely on a third party or health insurer. You also decide the best way to invest your money in order to make it grow.

You must be covered by a High Deductible Health Plan (HDHP) to be able to take advantage of an HSA. Sometimes referred to as a “catastrophic” health insurance plan, an HDHP is an inexpensive health insurance plan that generally doesn’t pay for the first several thousand dollars of health care expenses (i.e., your deductible), but will generally cover you after that. An HSA may help you pay for the expenses your plan does not cover.

Qualified Expenses

The tax-free dollars you save in an HSA can only be used to pay for “IRS-qualified medical expenses.” These include:

  • Medical expenses before you meet your health plan deductible
  • Dental care services
  • Vision care services
  • Prescription services
  • Over-the-counter medications prescribed by your doctor
  • Certain medical equipment

You can find a list of IRS-qualified medical expenses on the IRS website (, or by viewing IRS Publication 502 – Medical and Dental Expenses. If you have questions about the eligibility of a medical expense, please consult your tax advisor or the IRS.

Open Your HSA

Opening your HSA with Two River Community Bank is easy. Of course, we are happy to help along the way. Please call 877.706.9009 or email for assistance with any of the steps below.

Step 1: HDHP Enrollment

Enroll in a High Deductible Health Plan (HDHP) compatible with an HSA through your employer or insurance broker.

Step 2: Forms

Complete the following forms:

The information you enter on these forms cannot be saved to your computer or file. You must print the form after you have entered all your information. The information that you provide will be used to set up your HSA. Printed forms are available at Two River Community Bank locations. The forms will also be made available through your insurance broker or benefits administrator at your place of employment.

Step 3: Identification

If you are a new customer at Two River Community Bank, the USA Patriot Act requires that you provide two forms of identification when opening any bank account.

If you are opening an account through your local employer, complete and print the Application Form and Eligibility Form. A representative from Two River Community Bank will arrange with your employer to meet with you at work to set up the account and copy your two forms of identification. If you live out of the area, please call us or e-mail for specific instructions to open your account.

If you already have an HSA and want to transfer your account to Two River Community Bank, please bring the completed Application Form and Eligibility and Information Form with an HSA Transfer Form. If you are just starting your account, bring your initial contribution directly to a Two River Community Bank branch along with two forms of identification.

Step 4: Welcome Information

We will process your application and give you a welcome package with everything you need to begin using your Health Savings Account:

  • Online Banking Instructions
  • Debit Card (mailed separately)
  • Starter Checkbook
  • Your Monthly Account Statement Information
  • Information on End of Year Tax Forms

How to Change an Account

At Two River Community Bank, we make sure that managing your HSA information is easy, secure and convenient for you. All the forms you need to change your name, change your address, add Power of Attorney, or change your designation of beneficiary are available online to print, complete and then mail to Two River Community Bank. We’ll take it from there and update your account information promptly.


Employer Health Savings Accounts

If you are an employer interested in offering your employees an HSA option, please contact 732.706.9009 or email Our experienced team is ready to help.

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Our passionate, professional, and friendly staff is available to aid you in your decision-making and provide the highest level of personalized customer service.

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