A Health Savings Account (HSA) is a tax-favored account in which funds can be deposited to pay for qualified medical expenses. Interest earnings accumulate tax-deferred in an HSA, and if used for qualified medical expenses, withdrawals are tax-free. Farm Bureau Bank’s Health Savings Accounts offer an FDIC-insured investment option that can be integrated with any qualified health plan.

HSA Advantages
A Farm Bureau Bank HSA offers a great way for individuals to take more control of their health care, by controlling the dollars they spend on routine health care. For employers, it is a way to introduce control into your health benefits program, while providing the protection your employees expect and deserve.

• Portability – If you leave your current employer, you can take your HSA with you.

• Tax savings - Your contributions to the HSA are made with tax deductible or pre-tax dollars, so you will pay less in income taxes.

• Control – You can use the funds in your HSA to pay for any qualified medical expense, as defined by the IRS.

• Savings and Investments – Unlike premiums, unused HSA dollars remain in the HSA until you use them later.

• Reduced Premiums – You can reduce your insurance premiums substantially by switching to an HSA-qualified high-deductible health plan.

• Tax savings – Your contributions to your employees HSA are made with pre-tax dollars

Farm Bureau Bank’s HSA Benefits You

Farm Bureau Bank’s comprehensive HSA program gives you full control over your health care plan. Your HSA can be used to reduce or even eliminate your high deductible, pay for prescription drugs or doctor co-payments. It can also be used for non-covered medical expenses such as dental and vision. Plus, any HSA funds that are in your account at the end of the calendar year remain in your account for future use.

Farm Bureau Bank will handle all of your HSA account activity with quality service and support and can answer any of your questions on HSA rules, regulations, qualified contributions and withdrawals.

Farm Bureau Bank HSA accounts feature:

• Access via Visa^® debit card and checks
• Free 24-hour phone and Internet access
• No minimum balance required
• Tiered interest that rewards increasing balances
• E-Option – earn higher interest
• Multiple deposit options including Direct Deposit and Bank-by-Mail
• Low monthly administrative fee

Diverse HSA Accounts

HSA Checking is perfect for individuals or families who need to have unrestricted access to their account each month while still earning interest. HSA Checking features:

• No transaction limitations
• Your first order of 50 checks free
• Free Visa debit card

HSA Savings is perfect for individuals or families who are looking to receive a higher rate of interest on their investment and do not need to make multiple withdrawals each month. HSA Savings features:

• Higher interest rates
• Free checks
• Free Visa debit card
• 6 allowed withdrawals per statement cycle; 3 by check or debit card

HSA CD allows accountholders to invest a portion of their HSA balance in a fixed rate Certificate of Deposit. This will allow accountholders access to a portion of their account through HSA Checking or HSA Savings account while earning higher interest on the CD portion of their balance. CD withdrawal restrictions apply.

You can monitor and manage your Health Savings Account activity as frequently as needed with our Internet Banking Services and 24-Hour telephone access.

Additional HSA Features and Information

Terms and conditions of HSA Savings will follow those of the Farm Bureau Bank Money Market Savings Account and the terms and conditions of HSA Checking will follow those of the Farm Bureau Bank Performance Checking Account.