Use pre-tax dollars to pay for medical-related expenses, like doctor visits, prescription medication, surgeries, and more. A health savings account works in conjunction with a high-deductible insurance plan.
And the money rolls over year-to-year, without any "use-it-or-lose-it" policy. So whether you get sick in the next year or in the next decade, the money is yours to spend, tax-free.
HSAs as another option for retirement planning...
Since there is no use-it-or-lose-it requirement, unused balances can carry forward into retirement, tax free. A consumer can spend out of pocket for medical expenses while working, and save the balance in the HSA for retirement.
With a First Citizens Community Bank Health Savings Account, you can use checks and a MasterMoney debit card to pay providers or purchase qualified medical supplies.
In addition, contributions for the current year can be automatically transferred from your First Citizens checking account each month, or you can make the transfer yourself with our NetTeller Internet Banking and our Bank-By-Phone services.