Health Savings Accounts (HSA)
An Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the account beneficiary who, for the months for which contributions are made to an HSA, is covered under a high-deductible health plan. HSAs were created in the Medicare legislation signed into law by President Bush on December 8, 2003.
Farmers Bank & Trust is now offering HSAs to you as another way to have a high-deductible insurance plan, but a way to save money to help with the medical expenses. We have placed links below to four (4) documents to help answer questions, a printable application, an authorized signer form and a payable on death account form. You can fill out the application and authorized signer form, bring them into the bank and we'll help you open an HSA account. If you have questions, please feel free to call your local branch for more information.
