St. Cloud HSAs


At Sentry Bank, we provide the ability to open Health Savings Accounts near St. Cloud, MN! This helps you pay for some of your medical expenses with pre-tax dollars.


HSAs are tax-exempt qualified savings accounts which can help you pay for certain medical expenses. Let’s go over the basics of opening and using Health Savings Accounts near St. Cloud, MN and how Sentry Bank can help manage your account.

When you’re ready to get setup, drop in at our Downtown or West St. Cloud locations, or contact us today.


A Health Savings Account (HSA) is a qualified savings account the government allows you to make tax deductible contributions to, which you can then use to cover out-of-pocket medical expenses.

You can decide how much to contribute annually to your HSA, however a penalty may be applied if government-mandated maximums are exceeded. The maximum limits are usually adjusted every year.

Through Sentry Bank, you’ll receive a debit card or checks linked to your HSA, just like a normal checking account. Then, you can use the funds as usual on eligible medical expenses include deductibles, copays, coinsurance and other qualified medical expenses.

Qualifying For An HSA

If you’re enrolled in a high-deductible health insurance plan (HDHP) as defined by the government, you can qualify for an HSA.

For 2017, the IRS defines an HDHP for an individual as a plan with an out-of-pocket maximum of $6,550 and a minimum deductible of $1,300. For a family plan in 2017, the out-of-pocket maximum is $13,100 and the minimum deductible is $2,600.

Tax Benefits

Contributions to Health Savings Accounts near St. Cloud, MN are pre-tax/tax-deductible, so the money grows tax-free and can come out tax free.

For example, if you make $40,000 per year and you put $3,000 in your HSA, you will be taxed as though you make $37,000, thus lowering your tax burden. But, if you use the money on non-eligible expenses, you have to pay income tax on that amount.


Sentry Bank acquired the assets of St. Stephen State Bank in 2010, which included a location in St. Cloud. In 2011 we relocated the St. Cloud branch to a brand new building on Veterans Drive! This branch is right across from Apollo High School and a half mile north of Crossroads Mall.

In 2013, we acquired a downtown location from Sherburne State Bank, giving our customers more flexibility than ever in locations! Our downtown location is next to Kelly Inn and Green Mill.

Stop on in at either location to start Health Savings Accounts near St. Cloud, MN or just to say hello to our friendly staff!

For more information on HSAs, drop in, or contact us today.

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