Health Savings Account
text size
What is a HSA?
A Health Savings Account is a tax-exempt account that is used exclusively for the payment of qualifying medical expenses.
Qualifying Medical Expenses 1
- Chiropractic/Physical Therapy
- Dental & Optical
- Prescription Drugs
- Medical Equipment
- Nursing & Doctor Services
- Alcohol/Drug Treatment
- Prescribed Weight Loss
- Emergency Care
Eligibility 2
You are eligible for a HSA if the following conditions are met:
- You cannot be claimed as dependent on someone else's tax return.
- You may not be covered by any other health insurance.
- You must not be enrolled in Medicare.
- You must be covered by a qualifying High Deductible Health Plan.
High Deductible Health Plan (HDHP) is a plan with a minimum deductible and a maximum out-of-pocket expense, both of which are shown below.
* Subject to annual cost-of living adjustments
By establishing a HSA and having a High Deductible Health Plan, you are taking healthcare savings back into your own hands to help you make the decisions that are right for you!
First National Bank's HSA Features
- Debit Card to use at the ATM, doctor's office, pharmacy, etc.
- Unlimited check writing 3
- Rollovers
- Free Internet Banking
- Free BillPayer Plus
- Free e-Statements
- Free Mobile Banking
- Portability - the account moves with you
- Tax Savings
- Interest paid monthly
- Reduced insurance premium
Your money doesn't expire after a length of time, which allows your account to grow year after year. Our HSA is a great way to save towards retirement.
Did You Know?
Health care is the number one issue facing many individuals and families in the United States.
A Health Savings Account from First National Bank offers eligible individuals who participate in a High Deductible Health Plan an affordable alternative to the rising costs of health care.
Others can contribute within your HSA.
It's true. By meeting the eligibility requirements to successfully open your HSA, several contributors can become involved. Contributors within your HSA account can be you, members of your family, your employer, and many others.
Our HSA has full electronic access, like any other personal checking account.
Features of our HSA include a debit card to use at the ATM, doctor's office, pharmacy, and anywhere else. Our free Internet banking allows you to check the balance of your HSA, transfer funds from your personal checking, and pay bills electronically with our BillPayer Plus.