With an HSA, you can start saving for future medical costs so that you have the funds when you need them.
The future will be here before you know it, make sure you have everything you need for your retirement! Citizens also offers many FDIC-insured IRA options to choose from, and knowledgeable client service representatives to help you decide which is the best choice for you.
| Compare Accounts | Traditional Individual Retirement Account | Roth Individual Retirement Account | Health Savings Account |
|---|---|---|---|
| Overview | Tax deferred earnings* - normal distribution at age 59 1/2 |
Earnings can be tax free* |
Tax exempt account with a qualifying high deductible health plan |
| Minimum Balance |
No minimum balance required
|
No minimum balance required
|
No minimum balance required
|
| Contribution Limits 2024 |
$7,000
$1,000 catch up contribution if 50 or older |
$7,000
$1,000 catch up contribution if 50 or older |
Single - $4,150
Family - $8,300 $1,000 catch up contribution if 55 or older |
| Additional Details | $500.00 minimum balance required |
$500.00 minimum balance required |
Interest bearing
Free debit card
Free online banking
Online bill payment
|
| More Info | More on Traditional Retirement Account | More on Roth Individual Retirement Account | More on Health Savings Account |
