Common use of Health Savings Account (HSA) Clause in Contracts

Health Savings Account (HSA). An HSA is a tax-favored savings arrangement for members covered by high-deductible health plans (HDHPs). With HDHP coverage, an individual must pay for a certain amount of medical expenses before the HDHP begins to pay for medical expenses. In exchange for paying a certain amount up front, individuals receive less expensive insurance premiums. Individuals can use the money they save in an HSA to pay for medical expenses incurred by themselves, their spouses, or their dependents. Joint owners are not allowed on an HSA, however an authorized signer may be added. Revocable Trust Account You may open an account for a revocable trust created by you if you are a member of TruStone. The revocable trust must name a beneficiary. All transactions on the account must be performed by a trustee in their representative capacity. We may demand the Trustee(s) file a copy of the trust with us, an attorney’s opinion concerning validity of the trust and a waiver of liability. We may interview you concerning the trust. We may, in our sole discretion, refuse to open a Primary Share account in the name of the Trust, and may terminate the membership of the Trust. The Trust and its terms and conditions must be in accordance with the law. All Trustees agree to indemnify, keep indemnified and hold TruStone Financial harmless from, and against, any and all claims, demands, actions, proceedings, judgments, losses, damages, counsel fees, payments, expenses and liabilities whatsoever, which it at any time shall or may sustain or incur by and reason of: TruStone having complied with the request of the Trustee(s) concerning the account, any claims or demands which may be made with respect to the Trust, TruStone declining to honor the Trust or Certification of Trust instrument, or payment or transfer of credit which TruStone may give, make or permit with respect to this Agreement on the Trust, whether through inadvertence, accident, oversight, neglect or otherwise. The liability of the Trustee(s) under this Agreement is joint and severable, and shall accrue immediately upon the presentation of any claim by any of the Trustee(s), or any of their assigns, heirs or beneficiaries. This Agreement shall be effective and binding upon the Trustee(s)’ respective assigns, successors and legal representatives. Funds may be withdrawn on the Trust account by any Trustee.

Health Savings Account (HSA). An HSA is a tax-favored tax‐favored savings arrangement for members covered by high-deductible high‐deductible health plans (HDHPs). With HDHP coverage, an individual must pay for a certain amount of medical expenses before the HDHP begins to pay for medical expenses. In exchange for paying a certain amount up front, individuals receive less expensive insurance premiums. Individuals can use the money they save in an HSA to pay for medical expenses incurred by themselves, their spouses, or their dependents. Joint owners are not allowed on an HSA, however an authorized signer may be added. Revocable Trust Account You may open an account for a revocable trust created by you if you are a member of TruStone. The revocable trust must name a beneficiary. All transactions on the account must be performed by a trustee in their representative capacity. We may demand the Trustee(s) file a copy of the trust with us, an attorney’s opinion concerning validity of the trust and a waiver of liability. We may interview you concerning the trust. We may, in our sole discretion, refuse to open a Primary Share account in the name of the Trust, and may terminate the membership of the Trust. The Trust and its terms and conditions must be in accordance with the law. All Trustees agree to indemnify, keep indemnified and hold TruStone Financial harmless from, and against, any and all claims, demands, actions, proceedings, judgments, losses, damages, counsel fees, payments, expenses and liabilities whatsoever, which it at any time shall or may sustain or incur by and reason of: TruStone having complied with the request of the Trustee(s) concerning the account, any claims or demands which may be made with respect to the Trust, TruStone declining to honor the Trust or Certification of Trust instrument, or payment or transfer of credit which TruStone may give, make or permit with respect to this Agreement on the Trust, whether through inadvertence, accident, oversight, neglect or otherwise. The liability of the Trustee(s) under this Agreement is joint and severable, and shall accrue immediately upon the presentation of any claim by any of the Trustee(s), or any of their assigns, heirs or beneficiaries. This Agreement shall be effective and binding upon the Trustee(s)’ respective assigns, successors and legal representatives. Funds may be withdrawn on the Trust account by any Trustee.