Save For Medical Expenses
From unexpected expenses to consistent costs for ongoing medication, healthcare costs can add up quickly. With a Health Savings Account (HSA) from Farmers Bank, you can save to offset the costs of medical expenses and bridge the gap before your deductible kicks in. Here’s what you need to know about HSAs:
- You must be covered under a high-deductible insurance plan to open an account
- Contributions can be made by you, your employer, or another party
- Contributions may be tax-deductible*
- Interest grows tax free
- Withdrawals are tax free when used for qualified medical expenses
- Funds roll over from year to year
- Easy withdrawal access
- Minimum $50 opening rate
- No setup or annual fees
*Consult a tax advisor
To open an HSA at Farmers Bank, stop into our office and speak with one of our Personal Bankers.
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