HSAs
Tax-Deductible. Tax-free. Smart.
With the rising costs of insurance, many of today's families find themselves underinsured, or even uninsured. A Health Savings Account (HSA) is one way to prepare for what life sends your way. It's a tax-exempt account you can open for the express purpose of paying or reimbursing you for medical expenses.
Deposits go into an account you control. You decide how much to contribute and you decide whether or not to use it for current expenses or save it for the future. Best of all it's tax exempt and tax free as long as you use it for qualified medical expenses. And, like other FVSB savings accounts you have access to your account via debit cards, checks and online account management.
Current Rates on HSAs
| Deposit Amount | Rate | APY |
| $50 - $2,499 | 0.25% | 0.25% |
| $2,500 - $9,999 | 0.50% | 0.50% |
| $10,000 - $24,999 | 0.75% | 0.75% |
| $25,000 and Over | 1.00% | 1.00% |
APY = Annual Percentage Yield. Current rates effective January1, 2012. Rates are subject to change.
HSA Fees
Enrollment fee - $25.00
Excess Contribution Removal
To comply with regulatory requirements limiting the amount of annual contributions, there is a $5.00 fee each time an excess contribution is removed from the account.
Check Order Fee
Varies. Overdraft protection is not available on this account. Fees could reduce earnings on account.
