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.*
Common Qualified Medical Expenses
- Eye exams
- Glasses and contact lenses, needed for medical reasons
- Dental exams and related treatments
- Prescribed medicines and drugs, including insulin
- 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, benefits, qualifications, and limits.
First State Bank HSA Features
- Minimum Opening Deposit - $100
- Works like an interest-earning checking account.
- Free HSA debit card available.
- No minimum balance required.
- No monthly service charge.
- Payroll direct deposit available.
- Manage money and track progress with Digital Banking services.
- Free eStatements.
* Please consult your tax advisor for more information.