Our team offers electronic and on-site enrollment assistance, educational materials and more
At First American Bank, our Employer Health Savings Program and Account Team can assist your employees in setting up an account that works for them, either an HSA or HSA Plus. Regardless of your location or company size, our dedicated staff will make the implementation process a smooth one. Resources include:
- Extensive online FAQs at www.irs.gov
- HSA calculators
- Informative tutorials
- Comprehensive list of educational materials for employers, including flyers and brochures
- Toll-free support at (866) 449-1150
- If you're located in the Chicago area, our team will make an onsite presentation. We'll distribute and collect completed applications and answer any questions.
- Employer Guide: Comprehensive guide detailing enrollment, contributions and disbursement options.
- Employer Presentation: An informative presentation about First American Bank's Health Savings Account program
- Employer Contribution Form: For employers to use when making contributions for employees (employee pre-tax and employer contributions).
- Sample Employer Verification Letter
- Sample HSA Payroll Deduction Authorization Form
- Employee HSA Guide
- Health Savings Account Sales Flyer
- Why Choose an HSA
- HSA FAQs
- Eligible Medical Expenses: Example list of qualified medical expenses
- Health Savings Account Plus Funds List
|Minimum Deductible||2019: $1,350
|Maximum Out-of-Pocket||2019: $6,750
|Contribution Limit||2019: $3,500
|Catch-up Contribution (55 or older)||2019/20:
Frequently Asked Questions
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.
These amounts index annually, adjusting for inflation.