HSAs imgHealth Savings Accounts

Come to First Federal for a Health Savings Account (HSA)...the answer for your High Deductible Health Plan.

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How HSA’s work

  • Checking Account: A Health Savings Account (HSA) combines your high deductible health insurance plan with an interest bearing, tax-favored account.
  • Health Coverage Benefits: Savings can be used for any qualified medical expenses- even those not typically covered by your plans.
  • Tax Benefits: Contributions to the HSA are 100% tax deductible.*
  • Benefits Carry Forward: Unused savings, or earnings, can be used in future years.

1. Minimum balance to open $50.

2. Must maintain $25 balance to keep account open.

3. Balances below $50 will not earn interest.

4. Rates may change.

*Applicable to all qualified medical expenses

Check with your insurance agent, or tax preparer, for details on qualified HSA plans.

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