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Health Savings Account

A Health Savings Account (HSA) from First American Bank is a great way to save for your health care deductible, while taking advantage of tax savings. First American offers two types of HSA accounts: HSA and HSA Plus (see the comparison chart below).

  • If you are eligible for an HSA, then you are eligible for a First American Bank HSA regardless of the state in which you reside.
  • It's easy to open an HSA interest bearing checking account online.
  • There are no set-up fees, whether you open an account online or in person.
  • Tax savings are based on IRS and state guidlines.  Go www.irs.gov for more information.
  • Funds in the account will rollover each year. You do not lose the funds if you do not use them.
  • Use your HSA MasterCard® debit card to pay for all your medical expenses, like doctors visits and prescriptions.
  • Review our Frequently Asked Questions for more details.

If you have any questions and are calling outside the Chicago area, call our toll free HSA Help Line at (866) 449-1150. Within the Chicagoland area, call us at (847) 952-3700 (option 2, then 4), or Email us.

First American Bank HSA and HSA Plus Comparison Chart

 
Minimum to Open
Minimum Balance
Monthly Fee
Earns Interest
Why Choose This Option?
HSA
Learn More
Apply Now

$0

$0

$0

Yes

No monthly maintenance fee and no minimum balance

HSA Plus
Learn More
Apply Now

$0

$0

$4

Yes

Allows investments in mutual funds*

Disclaimer:
*Investors should carefully read the Fund prospectus, which includes information on the Fund's investment objectives, risk, as well as charges and expenses along with other information before investing or sending money.  Funds in the investment portion of your Health SavingsPLUS account are not FDIC insured, May Lose Value and are Not Bank Guaranteed.

Neither First American Bank nor its subsidiaries (collectively "First American Bank") are registered investment advisors nor is First American Bank acting in the capacity of a registered investment advisor with respect to the offering of Health Savings Account ("HSA") investment options.  Participation in the investment options is voluntary.  Under no circumstances is First American Bank offering any of the HSA investment options and makes no representations with respect to the investment options offered.

First American Bank disclaims any and all liability, contingent or otherwise, for the performance of the investment options. Please see your financial advisor for personal investment advice.

 This indicates a link to a third party site.  Please note the third party's privacy policy and information gathering may differ from First American Bank's and you should review these policy disclosures on the third party website for specific details. First American assumes no responsibility of your use of the products, services or overall content of the linked site.

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