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Health Savings Account

Be Prepared for Health Related Costs

Let’s be honest: you don’t enjoy going to the doctor. But you really don’t like the costs associated with a doctor’s visit or a trip to the emergency room. But there is a way to bridge the gap to your deductible or out-of-pocket max: a health savings account.

What is a Health Savings Account?

  • A health savings account, or HSA, is a separate savings account that can be used specifically for qualifying medical costs
  • It is available for those enrolled in a high-deductible health plan (HDHP)
  • Contributions are tax-deductible, and grow tax-free
  • The balance of an HSA is rolled over from year to year, so you never encounter a “use it or lose it” scenario

To open a health savings account, stop by a Farmers State Bank office in Algona, Whittemore or West Bend today!

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