Health Savings Accounts (HSA)
An interest bearing checking account designed exclusively for covering medical expenses on a qualified health deductible plan.*
HSA Benefits:
- Tax-deductible contributions
- Contributions can be made in any amount throughout the year until your tax return filing date for that year, not to exceed your annual limit
- You may contribute up to the annual limit for the type of HDHP coverage you are under (self-only or family)
- If you’re age 55 or older, you may make a catch-up contribution of $1,000
- As long as you cannot be claimed as a dependent on another person’s tax return, you may deduct contributions made by yourself or your spouse (not those made by your employer)
- Tax-free distributions for qualified medical expenses
- Qualified medical expenses typically include most medical, dental and vision not covered by insurance (IRS Publication 502 references a partial list of qualified medical expenses)
- Tax-deferred earnings
- Balance carries over from year to year
- Remains with you, regardless of change in coverage or employment
- Savings investment for retirement
- You own the HSA and can take it with you even if you change health plans or employers
FNB HSA Benefits include:
- No minimum deposit and/or balance requirements
- No maintenance fees
- Unlimited check writing and FREE checks
- Monthly statement of activity with imaged checks
- Interest compounded and credited monthly
- FREE Debit Card access
- FREE Online/Digital Banking access
- FDIC Insured
HSA Rates
Rates effective as of 01/21/2025
| Term | Minimum Balance | Interest Rate | APY |
|---|---|---|---|
| Health Savings Account | $10,000 | 0.35% | 0.35% |
| $5,000 | 0.30% | 0.30% | |
| $0.01 | 0.25% | 0.25% | |
| * APY = Annual Percentage Yield - Fees may reduce earnings. APY is subject to change without notice. Rates may change after account is open. |
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* Please consult your tax advisor or insurance provider for plan eligibility and tax advice.
