Do you have a High Deductible Health Insurance Plan? Look to First National Bank to furnish your Health Savings Account. We offer a Health Savings Account Checking. This account will be used to hold your tax deductible contributions and to then pay for your medical expenses.
Must have a High Deductible Health Plan (Check with your health insurance provider to see if your plan meets this requirement)
Cannot be covered by another health plan
Cannot be enrolled in Medicare
Cannot be eligible to be claimed as a dependent on another person’s tax return
Savings tool with investment earnings
Flexibility to pay current medical expenses or save for future needs
Tax-free distributions (if used properly)
Balance carries over from year to year
Remains with you, regardless of change in coverage or employment
Use of funds
Money withdrawn from the account is tax-free if used to pay qualified medical expenses as permitted under federal tax law (see your tax preparer if you have any questions whether a particular expense qualifies)
Most medical, dental, and vision care expense are included
Health Savings Account Checking
*APY – Annual Percentage Yield
**Interest rates may change after the account is opened at any time.