Your HSA is about to get even better
First American Bank is pleased to announce our new Health Account Services Group to better manage your Health Savings Account (HSA). This will allow us to expand our services to include a new suite of Consumer Directed Health (CDH) benefit accounts beginning fourth quarter 2020. With the introduction of our new suite of products, we will be updating our technology, which will provide you with an even better consumer experience, including a new online Health Account Services Consumer Portal, Mobile App and Debit Card.
In the coming weeks, First American Bank will be providing additional information to further explain our new platform in depth, including what’s changing with your Health Savings Account, important dates, fee schedule, and consumer portal/mobile access.
New Online Consumer Experience
With our new Health Account Services Consumer Portal, you will have access 24/7 to your account information and many self-service capabilities, including the ability to:
- Paperless administration, including online account summary reports and tax documents.
- Consolidate all out-of-pocket expenses that are available via online or mobile expense/receipt “virtual shoebox” entries, claims that have been filed, debit card transactions, and distributions attributable to qualified health expenses.
- Conveniently access investments and investment guidance.
- Complete online transactions such as claim reimbursements, online bill pay, distributions to your bank accounts and contributions to an HSA plan.
- View/update personal data, sign up for and manage direct deposit and your debit card status, sign up for text and email communications.
- View the balance, historical and pending activity, including debit card transactions.
New Mobile App
Our new First American Bank Health Account Services Mobile App, called FAB Health, makes it easy for you to manage your benefit plans on your iOS (iPhone, iPod Touch, iPad), or Android-powered devices. You can:
- Scan a product bar code to help determine eligibility as a qualified medical expense
- Check claims requiring receipts
- Snap a photo of a receipt and submit with a new or existing claim, or store in the device’s camera roll for later use in claim filing
- View HSA investment details
- Initiate an HSA distribution or contribution
- Check balances and account details
- View summary to obtain key account info
- Access account funds to pay yourself or someone else, such as a doctor
- Report a debit card as lost or stolen via the consumer portal and mobile app
- View important messages about your account(s) and get notifications via text alerts
- Retrieve forgot username/password
New Debit Card
As part of our new First American Bank Health Account Services solution, we will be issuing a new Mastercard® debit card, allowing you to easily pay for qualified healthcare expenses, instead of paying cash. The debit card is equipped with new security features to ensure purchases are limited to qualified healthcare expenses. Non-qualifying transactions, including ATM access, will be declined.
To assure compliance with IRS regulations, our First American Bank Health Account Services debit card offers maximum electronic capabilities to reduce the amount of paper used. The result: up to 95% of all transactions don’t need receipt follow-up. Simply swipe the card and the funds are automatically deducted from the applicable benefit account for payment.