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Home » Banking » Health Savings Account (HSA) (Business)

Health Savings Account (HSA) (Business)

An HSA is a tax exempt account designed to help individuals with a High Deductible Health Plan (HDHP) pay for qualified medical expenses now or in the future. Contributions can be made by the employer and/or the employee.

Benefits to Employers

Employers can save on health insurance by adopting a High Deductible Health Plan combined with an HSA. Employer benefits:

  • Lower premiums for the employee health care plan
  • A reduction in payroll taxes – all contributions to the HSA are pre-tax, which lowers the gross payroll

Benefits to Individuals

Individuals gain flexibility in managing their health and money through:

  • Tax-deductible contributions
  • Tax-free earnings on the HSA
  • Tax-free withdrawals from the HSA for qualified medical expenses
  • Accumulation of HSA funds and earnings that roll over year to year.

There is no minimum balance to open an HSA account. Dakota Prairie Bank offers competitive rates on HSA accounts. Please call or stop in and talk to our friendly staff to find out the current rates.

Our Locations

Fort Pierre

Main Office

View Bank Hours

1204 Yellowstone Street
PO Box 790
Ft. Pierre, SD 57532

Toll Free: 1-877-200-0079
Phone: 605-223-2337
Fax: 605-223-2304

Presho

Branch

View Bank Hours

211 Main Street
PO Box 190
Presho, SD 57568

Toll Free: 1-800-590-2265
Phone: 605-895-2595
Fax: 605-895-2228

Draper

Branch

View Bank Hours

100 Main Street
PO Box 158
Draper, SD 57531

Toll Free: 1-800-593-2265
Phone: 605-669-2401
Fax: 605-669-2770

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