One tool many use to accumulate funds whether it be for college, retirement, or any other purpose is to routinely put away a few dollars each month. Many find that over the course of several years this provides surprising results and the peace of mind that should unforeseen circumstances arise the nest egg is there to help them through the rough spots that come in our lives. It also eases the concern that arises when we reach retirement age knowing we have saved to improve the quality of our life.
At FirsTier Bank we offer a variety of savings products to help your money work for you!
All of our savings accounts include the following free benefits
- Online Banking / Mobile Banking
- Telephone Banking
- ATM Card
A Health Savings Account is tax-exempt account designed to help individuals save for qualified medical expenses and also gives businesses the ability to provide affordable health insurance plans with income tax benefits to their employees.
Any adult can contribute to an HSA if they:
Advantages of HSAs
Security – Your high deductible insurance and HSA protect you against high or unexpected medical bills.
Affordability – You should be able to lower your health insurance premiums by switching to health insurance coverage with a higher deductible.
Flexibility – you can use the funds in your account to pay for current medical expenses, including expenses that your insurance may not cover, or save the money in your account for future needs, such as:
Savings – You can save the money in your account for future medical expenses and grow your account through investment earnings.
Control – You make all the decisions about:
Ownership – Funds remain in the account from year to year, just like an IRA. There are no “use it or lose it” rules for HSAs.
Tax Savings – An HSA provides you triple tax savings:
To obtain more information about HSAs you can contact your local branch office or read “All About HSAs” from the U.S. Treasury Department.