Health Savings Account
Find a Branch
Locate a branch near you or call
Why use a Health Savings Account?
A Health Savings Account (HSA) is a tax-advantaged savings account that benefits those with high-deductible health insurance plans. It allows you to save for future out-of-pocket medical expenses like medical care for health, dental, vision, and prescriptions. Both individuals and their employers can contribute funds each year on a pre-tax basis. Any unused HSA funds roll over yearly, giving you more control over your current or future healthcare expenditures.
Remember: to open a Health Savings Account, you must first be enrolled in a high-deductible health plan (HDHP).
Benefits that work for you
The tax advantages of the HSA help you retain more money while providing potential benefits for:
- Tax Affordability – Pre-tax payroll contributions and qualified health care expenses make your paycheck go further, are not subject to federal income tax, and are exempt from income tax in most states.
- Grow Savings – Tax-free interest1 from an HSA allows you to retain 100% of your savings earnings and increase your budget for out-of-pocket medical expenses.
- Flexible Spending – You decide how much of your money to save up to what the IRS contribution limit allows for qualified future health care expenses.
- Ownership Does not Expire – Even if you change jobs, your unused balance carries over from each year to the next.
- Secured Future – Your high-deductible insurance and HSA protect you against high or unexpected medical bills.
Account details
- $2 monthly service charge
- $0 for e-statements, $2 for paper statements2
- Free debit card for maximum purchasing power
- Free Digital Banking tools for robust access to accounts online or with the First State Bank of St. Charles mobile app
- $100 minimum balance to open
Open an Health Savings Account Today!
Need to know more? Please call our Customer Care team at 636-940-5555, contact a banking center manager, or stop by any First State Bank branch to open your account today!
1 The Annual Percentage Yield (APY) is subject to change at any time.
2 The paper statement charge is $2 per month. For free paperless statements (e-statements), you must activate Digital Banking and sign up for e-statements.
