Maximize Your Savings with a Health Savings Account (HSA)
Pair with a Bronze & Catastrophic ACA Plan
Don’t let the high cost of healthcare sneak up on you
If you’ve chosen a Bronze or Catastrophic ACA health plan, you know the main benefit is low monthly premiums, making it an affordable option for those who want basic protection. Bronze plans offer a slightly better cost-sharing (you pay less for care after the deductible) than Catastrophic plans, which act as a safety net for major events like accidents or serious illness, covering essential benefits before the deductible kicks in.That’s where a Health Savings Account (HSA) can make a big difference for you and your wallet.
An HSA helps you put money tax-free into a savings account for qualified medical expenses. This gives you peace of mind and financial flexibility when you need it most. You can open your HSA with as little as $0, and you choose how much to contribute.
Benefits of a Health Savings Account
With an HSA, you can make pre-tax contributions to cover qualified medical expenses like prescriptions, eye exams, and doctor visits. Your HSA funds roll over year after year. They’re yours to keep, even if you change health plans. The funds can even be invested, helping you build long-term savings for future healthcare or retirement needs1.- Open your HSA with as little as $0
- Contributions are tax-deductible
- Growth is tax-free
- Withdraws for qualified expenses are tax-free
- Free prepaid Mastercard® debit card
- Free online account access and mobile app
- Free eStatements
Unlock the Full Potential of Health Benefit Accounts
Who is eligible to open an HSA?
You must meet the following criteria to qualify for an HSA.- Must have a high-deductible health plan
- Must not have a secondary health plan (except dental, vision and disability)
- Must not have Medicare
- Must not be claimed as some else’s dependent
As of January 2026, if you’re enrolled in an ACA Bronze or Catastrophic plan, your plan is considered a high-deductible health plan.
Customer Support
Call our Health Account Consumer Services team at (866) 449-1150, Monday - Friday from 7:00 a.m. - 7:00 p.m. CT, excluding holidays.
First American Bank offers Health Savings and Benefit Accounts nationwide, and is a full-service bank with branches in Illinois, Wisconsin and Florida.
| Feature | Description |
|---|---|
| Easy way to pay | The Health Account Services prepaid Mastercard® debit card comes with the added security of chip technology. Use this card to pay for doctor visits, trips to the pharmacy, or for qualified healthcare expenses when shopping online. For a list of qualified medical expenses, visit IRS Publication 502. |
| Consumer Portal | 24/7 online account access makes it easy to submit claims, view account summary reports and tax documents, monitor your accounts, and access HSA investment details. |
| Virtual Organization | Consolidate your out-of-pocket health expenses via receipt “virtual shoebox” entries, view claims that have been filed, and debit card transactions and distributions initiated through the Consumer Portal attributable to qualified health expenses. |
| Investment Options | Make the most of your account over the long term by investing1 in a select menu of low cost, competitive mutual funds. Once you reach the target cash balance of $1,000 in the checking account portion of your HSA, you can then perform an account sweep and move any additional funds into an array of investment options made available to you. |
| Mobile App | Submit claims, view HSA investment details, use the Eligible Expense Scanner, check your balances, and monitor your account all from your iOS (iPhone, iPod Touch, iPad), or Android-powered devices. Download the FAB Health mobile app from the Apple App Store or Google Play today. |
| Eligible Expense Scanner | Within the FAB Health mobile app, use the Eligible Expense Scanner to scan a product barcode to determine if the purchase is a qualified medical expense. |
2026 Limits
|
Single
|
Family
|
|---|---|---|
| Minimum Deductible | $1,700 | $3,400 |
| Maximum Out-of-Pocket | $8,500 | $17,000 |
| Contribution Limit | $4,400 | $8,750 |
| Catch-up Contribution | $1,000 | $1,000 |
Disclosures
1 A custodial management fee applies to the balances in your Investment Account. Funds in the Investment Account, as well as the Charles Schwab HSBA, are Not FDIC Insured, May Lose Value, and are Not Bank Guaranteed.
