Health Savings Account

Healthcare Spending on Your Terms

By establishing a FNBT.COM BANK Health Savings Account, you are taking healthcare savings back into your own hands to help make the decisions that are right for you. This tax-exempt account will allow you to pay for or reimburse qualified medical expenses you have incurred.
 
Determining If You Qualify

If you are currently covered by a high deductible health plan with an annual deductible as indicated on the below chart, you are eligible for a FNBT.COM BANK Health Savings Account. However, you must not have another health coverage plan in addition to your high-deductible plan, not be enrolled in Medicare and cannot be claimed as a dependent on someone else’s annual tax return. 

High Deductible Health Plan Requirements

Tax Year

HDHP

Coverage

Minimum

Deductible

Out-of-Pocket

Expense Limit

2013-14

Self – Only

$1,250

      $6,350

2013-14

Family

$2,500

     $12,700

 You can enjoy several benefits from establishing a FNBT.COM BANK Health Savings Account. You can claim a tax deduction for contributions you make to the account, even if you do not itemize your deductions on your 1040 tax form. The interest or other earnings on the assets in your account are tax free. In addition, your distributions may be tax free when used for qualified medical expenses.

Easy Access To Your Funds

FNBT.COM BANK makes it easy to make payments from your account to your pharmacy or doctor’s office for qualified medical expenses you have incurred. Upon opening your Health Savings Account, FNBT.COM BANK will issue you a debit card to enable you to access your funds easily. You can also manage your account online through FNBT.COM BANK Internet Banking.

Keep Growing Your Contributions

We understand that you work hard for your money and you want it there when you need it. With a FNBT.COM BANK Health Savings Account, your contributions remain in your account from year to year until you use the funds. Now you can budget for your health expenses and build up your savings to cover qualified medical expenses when the need arises.

Your Contributions Are Yours

Once you open your FNBT.COM BANK Health Savings Account, you become the sole owner. Thus, if you change your company of employment or leave the work force, your FNBT.COM BANK Health Savings Account does not stay behind with your former employer, it goes with you. Additionally, your employer may choose to make contributions to your FNBT.COM BANK Health Savings Account as an added benefit to you.  The below chart indicates eligible contribution limits. 

Regular Contributions

Tax Year

HDHP Coverage

Standard Limit

Catch-up Amount (Age 55+)

Total Contribution Limit

for Ages 55+

2013-14

Self – Only

$3,250 (2013) $3,300 (2014)

$1,000

            $4,350 (2013)             $4,400 (2014)

2013-14

Family

$6,450 (2013) $6,550 (2014)

$1,000

              $7,450 (2013)               $7,550 (2014)

Contribution Deadline:  Income tax return filing due date, not including extensions.

 *Consult your tax advisor for specific information that may pertain to your situation and changes in HSA legislation.

If you would like an HSA opening package mailed to you, please email your name and address to: HSA@fnbt.com.

Click here to view HSA Frequently Asked Questions.