Health Savings Account
The FCNB Health Savings Account is the right choice for those individuals who have an HSA-qualified high deductible health plan (HDHP). An HSA is a tax-exempt account that can only be used to pay qualified medical expenses.
Features and Benefits
- Tiered interest rates based on collected balance gives the customer the ability to earn additional income
- HSA funds are easily accessible with HSA checks or HSA VISA Check Card
- Complimentary first order of HSA Checks
- Monthly statement including check images
- Free access to HSA information through First Citizens Online Banking and First Connection
- Tax savings include:
- Tax deductions for HSA contributions
- HSA earnings excluded from taxable income
- Tax free withdrawals for qualified medical expenses
- Minimum opening deposit $100.00
- Low monthly fee of $3.00
- Interest earned on all collected balances
Terms
Certain federal guidelines must be met to qualify for this account. Federal tax benefits are determined by IRS rules. Check with your tax advisor for state rules regarding HSA's.
