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Health Savings AccountHealth Savings Account debit card image

The Health Savings Account (HSA) is a special tax-advantaged account available to anyone who is covered by a high-deductible health plan (HDHP). The funds in your HSA can be used to pay for IRS-qualified medical expenses your HDHP does not cover, including most medical care and services as well as dental and vision care.

HSA benefits:

  • The money you contribute to your HSA is yours to keep — there is no "use it or lose it" penalty.
  • The account is completely portable. Even if you change jobs, change your health coverage or become unemployed, your HSA goes with you.
  • You receive triple tax savings: a tax deduction when you contribute to the account; tax-free earnings through investment; and tax-free withdrawals to pay for qualified medical expenses.
  • First Financial Bank provides the FirstPlus Visa HSA debit card that makes accessing the funds in your account fast and easy. The card is accepted by millions of doctors and other health care practitioners, hospitals, clinics, pharmacies and merchants anywhere Visa is welcome.  

 To open an HSA:

  • You must have a high-deductible health plan (HDHP), either through your employer or one you have purchased on your own;
  • You cannot be covered by any other health plan (including Medicare);
  • You cannot be claimed as a dependent on another person's tax return;
  • You must have a Social Security number and a primary residence in the U.S.
Want to know more about Health Savings Accounts? Our Personal Finance Center has a helpful article.

Health Savings Accounts* are available at all First Financial banking centers.



*The monthly fee for the Health Savings Account is $5.00. Using the funds in your HSA to pay for anything other than IRS-qualified medical expenses as determined by federal law will result in a tax penalty. The tax penalty no longer applies once you reach the age of 65, enroll in Medicare and/or become disabled. Please consult your tax professional for advice specific to your situation.

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