Health Savings Accounts (HSAs) from First Federal Community Bank offer a way to offset high deductible insurance costs. HSAs are tax-exempt accounts opened by an individual or employer to pay eligible health care expenses including insurance policy deductibles, co-payments and other out-of-pocket medical expenses. An HSA must be established with a high deductible health plan (HDHP) so that the HSA is used to pay routine expenses and the plan is used to pay more significant expenses. There are annual maximum contributions that can be made and deducted for tax purposes.
Please call or visit one of our offices to learn more about HSAs.
Features and Requirements Include:
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