qualified health & medical needs
contributions are pre-tax
no "use it or lose it" policy
No maintenance fees for the first nine months - after that it's $5.00 per month. If you maintain more than $500 in your account or link to another account, we'll waive the monthly fee. Keep your account open at least one year to avoid early closing penalties.
To open a health savings account (HSA), a customer must have a qualifying high deductible insurance plan. HSA funds are accessed using a debit card. If you prefer to write checks, we'll help you order them. You can link an HSA to another account. We'll waive the monthly maintenance fee if your secondary account has a daily balance of $10,000.00 or more. Make contributions for the previous or current tax year, and until you enroll in Medicare. Individuals age 55-64 are allowed to make an additional $1,000.00 catch-up contribution to an HSA.
The IRS sets the annual maximum contribution amount for HSAs each year and also determines what's classified as qualified medical expenses. For tax advice, consult your financial advisor or the IRS website.
Personal banking customers can apply for and be issued PIN-protected debit cards for real-time access to checking account funds. Access your funds with ease and convenience from First Community Bank, Star, Plus and Jeanie ATMs.
Debit cards have transaction cash limits to protect you, but limit increases may be available. Even better? Your debit card is free.