Health Savings Account

Make sure you and your family can afford to get well and stay healthy.

 
With tax benefits and interest income, an HSA may be just what the doctor ordered.
In home care giver with their patient.
Set aside money for a wide range of medical, dental, and vision care needs.




As careful as you may be, serious injuries and illness happen. And the funds you deposit in a Health Savings Account can help cover the high cost of doctor and hospital care. Just as importantly, your HSA can also be used for routine care - like check-ups and tests – that helps keep your body and mind in good condition.


Retirees hiking outdoors.
  • HSAs are designed for individuals and families with high-deductible medical plans
  • Contributions placed in an HSA may be tax deductible* by the IRS
  • Individuals may contribute up to $4,300 annually to their HSA. The limit for families is $8,550.**
  • Funds may be used for a wide range of hospital, doctor, dental, vision and mental health care, as well as for prescription medication or over-the-counter medication
  • Competitive interest earnings with no monthly maintenance fees
  • Open account with as little as $100
  • Free HSA Mastercard debit card to pay for medical expenses
  • Any contributions not used in one year can be carried over to the next year
  • Unlike employer-sponsored health plans, you keep your HSA if you lose your job or change employers
Person transferring money with their phone.

See if you qualify

 
To qualify for a Health Savings Account, you must be covered under an HSA-eligible high deductible health plan (HDHP). Additionally:
  • You cannot be covered by another health plan
  • You cannot be enrolled in Medicare
  • You cannot be eligible to be claimed as a dependent on another person’s tax return






*Check with your tax advisor, insurance provider and/or IRS rules for further eligibility requirements. First National Bank does not provide tax advice.

**These limits are subject to IRS rules, including cost of living adjustments, which can change in future years.

The following applies to all interest bearing accounts listed on this schedule of fees and services. The interest rate and *Annual Percentage Yield (*APY) are subject to change weekly.

  • Balance Computation Method: We use the daily balance method to calculate the interest on your account. This method applies the daily periodic rate to the principal in the account on each day. Interest is paid (credited) and compounded monthly, except for Regular Savings which is paid (credited) and compounded quarterly.
  • Accrual: Interest begins to accrue no later than the day we receive full credit for the deposit of non-cash items (for example checks)
  • All interest bearing accounts are variable rate accounts. We may change the rate at our discretion.
  • If you close your account before interest is credited, you will receive interest only if you notify us at the time of closing. If you do not tell us you are closing your account you will not receive your accrued interest.
  • Effect of Fees: fees may reduce earnings.