Health Savings Accounts (HSAs)
A Health Savings Account is a relatively new tool to save for healthcare costs when you are enrolled in a high-deductible healthcare insurance plan. These accounts are specifically designed to save for future qualified medical and retiree health expenses on a tax-exempt basis. First Palmetto Bank makes the process of setting up an HSA easy on you, so that you and your family can prepare and pay for qualified medical expenses not covered by your insurance plan. Our team is here to help you answer any questions about an HSA that you may have. Please give us a call or visit a branch to learn more about an HSA.
Preparing for Costly Medical Expenses
We make paying for qualified medical expenses like a visit to your doctor, a trip to the emergency room, or prescriptions as easy as using a debit card or the writing of a check. You don't need the complexity, you just need to pay for healthcare.
- No minimum opening balance
- Competitive interest rates
- Monthly Maintenance Fee waived for first 12 months
- $10.00/month Maintenance Fee (unless you maintain a daily balance of $1000.00 or more)
- Unlimited check writing or the use of a First Palmetto Bank VISA Debit Card for qualified medical expenses
- Access online banking
- Contributions may be tax deductible, and interest earned may be tax-deferred (See your tax professional)