Personal Health Savings Accounts
A Health Savings Account (HSA) is an account established exclusively for the purpose of paying or reimbursing qualified medical expenses for you, your spouse and your dependents. These expenses may include medical, dental, vision, and other qualified expenses not covered by your high-deductible health plan (HDHP). An HSA provides you with a way to pay these out-of-pocket costs, while lowering your monthly premiums and receiving a tax savings.
Reasons to sign up for a First Mid HSA
- Enrollment is easy, and can be done online.
- Account access is available at any time through the secure and easy-to-use website.
- You’ll be able to make convenient payments at clinics, hospitals and pharmacies with your HSA debit card.
- A user-friendly, web-based Consumer HSA Portal gives you access to manage your account information, see your balance, select and get helpful reminders sent via email, and manage investments.*
- The online Healthcare Toolbox provides important information to help you make decisions about your health insurance choices and healthcare.
Other Advantages of Personal HSAs at First Mid
- Earn competitive rates on your savings deposits and grow your funds with available investment options*
- Health insurance plans with higher deductibles typically offer lower premiums.
- Funds can be used for current medical expenses or saved for future needs. Plus, they roll over year to year.
- Even if you change jobs or medical coverage, your HSA account goes with you.
- Enjoy tax savings on your contributions; receive tax-free account growth through interest and investment earnings*; and take tax-free withdrawals for qualified medical expenses.
Contact Us for more details.
*Investment products are not FDIC insured, are not deposits or obligations of, or guaranteed by the bank, and may be subject to investment risks, including the possible loss of principal.
Consult your tax advisor.
HSA Custodian, Optum BankSM, Member FDIC