Interested in a Health Savings Account? An HSA is a tax-advantaged savings account that allows individuals or employees with a high-deductible health plan to save money for medical expenses. See below for more information.
Healthcare costs can take a significant toll on one's financial well-being. That's where a Health Savings Account (HSA) can be beneficial.
An HSA is a tax-advantaged savings account that allows individuals or employees with a high-deductible health plan to save money for medical expenses. Contributions to an HSA are tax-deductible, and the funds can be used tax-free for qualified medical expenses such as doctor visits, prescriptions, and medical equipment.
Furthermore, an HSA can be a valuable long-term savings tool for individuals who want to save for retirement healthcare costs. As healthcare continues to be a significant expense for individuals, HSAs offer an avenue to save and invest in one's health.
Eligibility:
Individual must be covered by an HSA-eligible plan
Must not be enrolled in Medicare
No Income Limit
HSA Plan will have a high deductible
Qualified medical expenses are defined by IRS Publication 502 Section 213(d). Some examples include: doctors' fees, prescription and non-prescription medicines, durable medical equipment, etc. These are expenses that can be incurred by you, your spouse, or your dependents.
HSA Contribution Limits:
You can make a contribution to your Health Savings Account each year that you are eligible. The yearly limits are:
$4,150 Self-only coverage (2024)
$8,300 Family coverage (2024)
Individuals aged 55 and older can also make additional "catch-up" contributions. The maximum annual catch-up contribution is $1,000.00.
An HSA is owned by an individual, not an employer. Your employer may choose to make contributions to your HSA as a part of your benefits package. However, if you are switching to a new job, the HSA will go with you.
The Health Savings Account at FNC Bank is flexible and easy to use with the option of writing checks, using a debit card, or both. Your account earns interest and you can keep track of your account online.
We have banked at FNC bank for over 20 years. We can not say enough about how helpful the personnel has been whenever we have needed help doing or understanding something.
Arthur
Banked here for 15+ years. The staff are always helpful and knowledgeable, I recommend this bank to everyone I can!
Auir
Keep doing a great job in helping customers with fraudulent charges. Top notch support. Some of my friends have had these issues with fraud and they received ZERO support from their bank. (that was not FNCB)! Thank you!
Kate
Friendly and capable employees who go beyond the ordinary. I was very impressed with the loan officer who helped with the car loan I received even though the dealer was being ridiculous. It took people in the Hudson and New Richmond offices to get it done, but it was completed in one day.
Deborah
So far this year we have opened up savings accounts for our children and navigated a stolen debit card number/fraud. Customer service reps in both situations were wonderful.
Jamie
I have been with FNC bank for over 20 years and even though I have moved, I like the small town bank so I continue my accounts there.
Christyl
Small town service with a smile, big city offerings!
Patty
I absolutely love this bank!! They are very personable and I have NEVER had an issue with anything!! I love the ability to work with a small bank that is NOT forced to follow the "Rules" of a corporate company!!
Cory
I appreciate that FNCB keeps up with all the current technology.
Kathryn
Always treated as family with every interaction!
Byron
(Mortgage lender) was fantastic at FNC Bank! He helped my family get a loan for our new home. We got a construction loan for a shouse/barndominium. I’ve always heard it can be a difficult process with a bank to get a loan for this type of home and he made it easy. He’s always helpful with any question I have and will give you a great experience.
Tiffany
FNC Bank has been our bank for over 40 years! Never had any issues. Great service!
Richard
Have been extremely happy for the past 32 years as a customer.
James
Did a great job with refinancing our mortgage, very helpful. Meet all of our regular banking needs with accuracy and a personal touch.
Christine
This is the best bank ever! I love you guys for all you've done for me over the years!
Jennifer
The best bank I have ever used. Everyone is has been so kind and helpful!
Lisa
Really great bank, down to earth and personal. Does not have the corporate feeling vibe, long holds on the phone etc. High quality experience for sure. If buying a home, (FNC Bank) is truly fantastic.
Shawn
We have been customers of FNCB for over 40 years and have been satisfied customers the whole way!
Doreen
I like the hometown feel and great customer service. I love the employees and they have went to great lengths to help me with things. Once I left my phone there and customer service called all my kids. Who does that? I love that they care that much.
Jean
(Commercial Lender) was amazing to work with. My husband and I had a business idea and were not sure if the financing would work out. I'm so glad we called him. He was easy to work with, very responsive, and clearly knowledgeable in his field. Highly recommend.
