Health Savings Accounts (HSAs)

1st National Bank – Growin’ Wisconsin since 1876.

 

Prepare for medical expenses with ease.

A Health Savings Account (HSA) from 1st National Bank keeps you one step ahead of medical expenses. Created for people with high deductible health plans, it allows you to pay for current and future qualified medical expenses with greater ease.

HSAs offer fewer restrictions than other plans and even carry over unspent balances year after year.  An HSA can be funded by you, your employer, or both. But ultimately, it is owned by you—providing complete control in your healthcare decisions.


Health Savings Accounts (HSAs)-at-a-Glance

Prepare for current and future qualified medical expenses

  • Created for people with high-deductible health plans who meet the qualifications*

Greater personal control over healthcare management and expenses

  • Owned by you
  • No minimum deposit to open
  • Unused funds remain in your account

Earn competitive interest on entire balance


Health Savings Account Contribution Limits

2016

  • Individual: $3,350
  • Family: $6,750
  • Catch-Up (age 55+): $1,000

2017

  • Individual: $3,400
  • Family: $6,750
  • Catch-Up (age 55+): $1,000

Contact a 1st National Bank personal banker to discuss making a prior year (2016) contribution.


*Qualifications

Eligible individuals covered under high-deductible health plans may open an HSA and use the money tax-free (including earnings) to pay for qualified medical expenses.

In general, you may contribute to an HSA if the following statements are true:

  • I am or will be covered by a qualified High Deductible Health Plan (HDHP)
  • I am not covered under any other health plan that is not compatible with a Health Savings Account
  • I am not enrolled in Medicare
  • I may not be claimed as a dependent on another person’s tax return

There are no eligibility restrictions regarding income level, and there is no requirement of earned income to make contributions. Please consult your tax advisor for guidance on your HSA eligibility.


Ready to stay one step ahead of your medical expenses?