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If your goal for 2018 is to be a healthier version of yourself, why stop at that apple for a snack? Help your health and your wealth by opening a health savings account with Fidelity Bank & Trust.

Health Savings Accounts (HSAs) are being used now more than ever before. HSAs were created by Congress to combat rising medical costs by providing an incentive for consumers to pay ‘first-dollar’ medical expenses. The main requirement for opening an HSA is having a high-deductible health plan that meets IRS guidelines for the annual deductible and out of pocket maximum.   DDougherty2013

At Fidelity Bank & Trust, we care about the financial well-being of our customers as well as their health! Here’s what you need to know about opening an HSA with Fidelity.

Darcy Dougherty in our Postville branch explained the benefits of an HSA. “HSAs at Fidelity allow pre-tax and tax-deductible contributions,” she said. “Additionally, the withdrawals may be tax-free, making it easy to access your funds.  We always suggest visiting with a tax professional on how this will affect your taxes.”

Currently, our HSAs are interest bearing accounts set up as savings accounts, but you can use the funds through a checking account by writing a check or using a Fidelity Bank & Trust HSA debit card.  Unlike most banks, at Fidelity we do not charge a monthly fee to maintain an HSA account.

An HSA with Fidelity makes it easy for your employer or your spouse to contribute as well.

“With roll-over funds, you never have to worry about ‘using it or losing,’” Dougherty said. “But, our HSAs can be used for a variety of medical expenses including regular doctors’ visits, glasses, orthodontic bills, and hearing aids.”

If you’re nearing retirement age, never fear! You can even use your HSA to pay supplementary premiums once you have retired.

“At Fidelity Bank & Trust, we know that healthcare costs are unexpected so saving for them can help you out in a pinch,” she explained. “If you have any questions at all about your options with Fidelity, please give us a call or come see us. We love to help our customers!”

Contact one of our team members to learn more about the comprehensive list of medical expenses our HSAs can cover.

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