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Health Savings Account (HSA)

Health Savings Account (HSA)

Take control of your health care costs with a Health Savings Account (HSA) from First U.S. If you’re covered by a High Deductible Health Plan (HDHP), an HSA is a smart way to save for medical expenses today and in the future. Unlike other health accounts like a Flexible Spending Account (FSA), there’s no “use it or lose it” rule and your balance rolls over year after year.

Multiple Tax Advantages

  • Contributions are tax-deductible (up to annual IRS limits).
  • Employer contributions (if offered) are tax-free.
  • Withdrawals for qualified medical expenses are tax-free.
  • Save with every contribution while lowering your out-of-pocket healthcare costs.

Convenient Access with Your First U.S. HSA Visa® Debit Card

HSA debit card from First US
  • Pay doctors, pharmacies, dentists, and other providers directly from your HSA.
  • Use your chip-enabled, contactless debit card for eligible medical purchases.
  • Track and manage your transactions with eAlerts.
  • Keep your receipts - every withdrawal must be for a qualified medical expense, and all activity is reported to the IRS.

To Get Started:

  • Minimum to Open: $1
  • Minimum to Earn Dividends: $300
  • Monthly Fee: $5

You must be covered under a qualified High Deductible Health Plan (HDHP) to open an HSA. Keep receipts for all HSA debit card purchases, as withdrawals must be for qualified medical expenses. Consult your tax advisor regarding specific tax situations.