Health Savings Accounts
Paired with a High Deductible Health Plan (HDHP), a Health Savings Account (HSA) provides medical coverage along with a tax free solution to save for future medical expenses.
Available as a checking or savings account, an HSA helps cover, pay for, or reimburse an individual for typical medical expenses such as prescriptions and office visits. Money can be saved in a tax-deferred HSA to be used for future qualified medial expenses, which are tax free! Other benefits of an HSA include tax-deductible contributions, tax-free withdrawals for qualified medical expenses, and tax-deferred interest earnings.
HSA’s don’t require you to use or spend your saved money by the end of the year. Your funds simply roll over and become available for use the following year.
Contact any of First National Bank’s knowledgeable Personal Bankers to find out how you can start saving today!