 What
is an HSA?
An Health Savings Account (HSA) is a special account owned by an individual
used to pay for current and future medical expenses.
Who is eligible for HSAs?
An individual that:
-- Is covered by a High Deductible Health Plan
-- Is not covered by other health insurance
-- Is not enrolled in Medicare
-- Can't be claimed as a dependent on someone else's tax return
Children cannot establish their own HSAs
Spouses can establish their own HSAs, if eligible
What happens to my HSA when I die?
If you are married, your spouse becomes the owner of the account and
can use it as if it were their own HSA. If you are not married, the
account will no longer be treated as an HSA upon your death. The account
will pass to your beneficiary or become part of your estate (and be
subject to any
applicable taxes).
Benefits of a Health
Savings Account....
Ask about a free Visa Check Card when you sign up at your local First
Bank & Trust office.
For more information, visit www.Treas.gov
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