Your HSA is about to get even better
Announcing Health Account Services

With updated technology including a new online Consumer Portal, Mobile App and Debit Card, you’ll enjoy an even better experience.

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We are the right strategic partner to add value to your client’s relationship

For the past 15 years, First American Bank has been proud to serve the HSA needs of clients nationwide. Agents and brokers who wish to provide these benefits to their individual, mid-size or large group clients can count on exceptional support from First American Bank's Broker Program and Account Team. We offer HSA  and HSA PLUS options, and our experienced team can offer your clients the following support:

  • Facilitated individual and employer HSA implementation
  • Informative employee communications to drive engagement
  • Dedicated contact with our HSA Account Team
  • Toll-free support at (866) 449-1150
  • If your clients are located in the Chicago area, our team will make an onsite presentation. We'll distribute and collect completed applications and answer any questions.
Broker Sales Materials

To learn more about how First American Bank's HSA program can add value to your current client offering, please contact an account manager at (866) 449-1150.

First American Bank is a full-service bank with branches in Illinois, Wisconsin and Florida.
Contribution Limits

Minimum Deductible 2020: $1,400
2021: $1,400
2020: $2,800
2021: $2,800
Maximum Out-of-Pocket 2020: $6,900
2021: $7,000
2020: $13,800
2021: $14,000
Contribution Limit 2020: $3,550
2021: $3,600
2020: $7,100
2021: $7,200
Catch-up Contribution (55 or older) 2020/21:
A Health Savings Account (HSA) is a tax-exempt trust or custodial account you set up with a qualified HSA trustee (First American Bank) to pay or reimburse qualified medical expenses you and your family incur. You must be an eligible individual to qualify for an HSA.
To be an eligible individual and qualify for an HSA, you must meet the following requirements. 1) You are covered under a high-deductible health plan (HDHP) on the first day of that month 2) You covered under an HSA qualified High Deductible Health Plan (HDHP) and have no other health coverage except what is permitted under “Other health coverage” 3) You are not enrolled in Medicare 4) You cannot be claimed as a dependent on someone else’s tax return.
A high-deductible health plan (HDHP) is a health insurance plan with lower premiums and higher deductibles than a traditional health plan. Being covered by an HDHP is also a requirement for having a health savings account. To view limits, visit our HSA page.

Deductibles and out-of-pocket expenses index annually, adjusting for inflation. All qualified medical expenses are used to reduce the plan's deductible, before the insurer starts paying claims (preventive care excluded). HSAs help reduce the overall cost of the plan's deductible due to their tax advantages and long-term savings/potential growth.
Yes. The HDHP must limit out-of-pocket expenses. To view these limits click here.
These amounts index annually, adjusting for inflation.
It is a checking account.

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