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Federal Holiday

All First State Bank offices are closed on Wednesday, June 19, for the Juneteenth federal holiday. We will be open during normal business hours on Thursday, June 20, for your banking convenience. Locations & Hours

Health Savings Account (HSA) Personal Banking

A healthy approach to medical expenses

Looking for a cure for high-deductible health plans (HDHPs)? If you have a HDHP, Health Savings Accounts (HSA) provide convenient, tax-advantaged solutions for making healthcare more affordable. Distributions from an HSA used to pay for qualified medical expenses are not taxed; neither is the interest you earn! Please consult your tax advisor for more information.

What are qualified medical expenses?

Qualified medical expenses are costs that would generally qualify for the medical and dental expenses deduction as explained in IRS Publication 502, Medical and Dental Expenses. Over-the-counter medicines (other than insulin) may also qualify as expenses for HSA purposes if you have a written prescription for them.

See IRS Publication 502 for a complete list of qualified medical expenses.

HSA qualifications and limits

The Internal Revenue Service (IRS) sets contribution and HDHP limits for HSAs which may change each calendar year.

See IRS Publication 969 to learn more about HSAs, their benefits, qualifications, and limits.

First State Bank HSA features

  • Works like an interest-earning checking account
  • Free HSA debit card
  • Free online banking
  • Free online statements
  • Free mobile banking
  • Free mobile check deposit
  • Minimum opening deposit: $100
  • No minimum balance required
  • No monthly service charge
  • Payroll direct deposit available

HSA rates

Open your HSA today

Our relationship banking team can help you determine whether you qualify for an HSA and walk you through the process of setting one up if you are. We look forward to your visit!

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