A Health Savings Account, or HSA is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a High Deductible Health Plan (HDHP). The funds contributed to the account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned by the individual, which differentiates them from the company-owned Health Reimbursement Arrangement (HRA) that is an alternate tax-deductible source of funds paired with HDHPs. HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty.

First American Bank

A Health Savings Account (HSA) from First American Bank is a great way to save for your health care deductible, while taking advantage of tax savings. First American offers two types of HSA accounts: HSA and HSA Plus (see the comparison chart below).

* If you are eligible for an HSA, then you are eligible for a First American Bank HSA regardless of the state in which you reside.
* It’s easy to open an HSA interest bearing checking account online.
* There are no set-up fees, whether you open an account online or in person.
* Tax savings are based on IRS and state guidlines. Go www.irs.gov for more information.
* Funds in the account will rollover each year. You do not lose the funds if you do not use them.
* Use your HSA MasterCard® debit card to pay for all your medical expenses, like doctors visits and prescriptions.

Click here to apply for an HSA

HSA Bank

Why Work with HSA Bank?

* Convenient funding and withdrawal options
We offer several options for both contributions and withdrawals.

* Stellar customer service
You’ll get live support from HSA Bank’s Client Assistance Center, Monday through Friday from 7 a.m. to 9 p.m. CT.

* 24/7 account access
Log in to Internet Banking or access your account through our toll-free, automated Bankline system.

* Informative tax filing help
We’ll send you the forms and instructions you’ll need for your HSA-related tax filing.