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473 Broadway Saratoga Springs, NY 12866
Phone: 518-584-5844

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Health Savings Accounts

Health Savings Account

The Advantages of the Adirondack Trust Health Savings Account

We have worked for over 112 years to bring new services and products to our customers and are pleased to provide you with information about the Adirondack Trust Health Savings Account (HSA).

An HSA from The Adirondack Trust Company (ATC) is a tax-exempt account designed exclusively for paying your qualified medical expenses and is FDIC insured, up to $250,000. It allows you to make the best decisions regarding how to spend your health care dollars.

With an Adirondack Trust HSA, you have the freedom to choose which health insurer you have your high deductible health plan with since Adirondack Trust serves as the custodian for your HSA. Then simply combine the ATC HSA with your high deductible health plan and you have a health savings account that goes with you wherever you go.


To be an eligible individual and qualify for an HSA, you must meet the following requirements:

  • You must be covered under a high deductible health plan (HDHP).
  • You have no other health coverage.
  • You are not enrolled in Medicare.
  • You cannot be claimed as a dependent on another person’s tax return.

If you meet these requirements, you are an eligible individual even if your spouse has non-HDHP family coverage, provided your spouse's coverage does not cover you.

Qualified contributions are tax free up to the statutory maximum contribution amount. The IRS assess a 20% penalty on non-qualifying distributions and your normal income tax rate applies on these non-qualifying distributions also. You may want to consult with your tax advisor, health insurance provider or visit the IRS website ( to find out if you qualify for this account (see publication #969). The ATC HSA interest rate is subject to change without notice.

A list of qualifying medical expenses can be found at


  • Tax Deductible Contributions: HSA contributions, (other than those made by your employer) are 100% tax deductible on your federal income tax return, regardless of whether you itemize deductions. HSA contributions made through your employer are made on a pre-tax basis and are not taxable to the employee.
  • Tax Free Earnings: The earnings are 100% free from federal income tax while they are in the HSA. Thus, the account balance will grow faster than a comparable taxable investment.
  • Tax Free Distributions: Distributions used to pay for your qualified, out-of-pocket medical expenses  for you, your spouse or dependents are tax-free. This includes both taxable - and tax deductible contributions and earnings.
  • Easy Access: You can access your HSA account by simply writing a check from your ATC HSA Checking account or using your ATC HSA Visa® Debit Card.
  • Contributions: remain in your account from year to year until you use them.
  • Moves With You: the HSA is portable so it stays with you if you change employers or leave the work force.



  • Individual accounts only (not for joint accounts)
  • Interest bearing checking account, variable rate
  • Interest earnings credited monthly
  • No minimum monthly balance requirement
  • Free unlimited check writing access
  • Free ATC wallet style checks for life of the account
  • Visa® debit card
  • Free ATM access
  • No ATC surcharge fee when using other ATMs
  • Free online banking access through Webwise®
  • Free online bill pay service through Webwise®
  • Monthly account statement options:
  • e-statement with check images (front and back) via Webwise®
  • paper statement (no checks)
  • payroll direct deposit eligible
  • Year-end IRS reporting
  • FDIC insured account




  • $25.00 enrollment fee
  • $4.00 monthly management fee (may be reduced by $2.00 when enrolled for e-statement)


It's Easy To Get Started

1. Enroll in a high deductible health plan (HDHP) through your employer that allows for an HSA or with your health insurance agent. If you do not have a health insurance agent, Adirondack Trust Insurance Agency may assist you with obtaining health insurance coverage. You can contact Adirondack Trust Insurance at 518-584-5300 to learn more about obtaining health insurance coverage.

Open An HSA

1. Open Your HSA Online Click Here
2. Call 518-584-5844 and request an HSA Application packet. Bring the completed application and supporting identification with you to any Adirondack Trust branch and your new HSA will be established for you.