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Health Savings Account (HSA)

Health Savings Account (HSA)

At F & M Community Bank, we strive to provide solutions in all areas of business. Attract and retain better employees by providing them with health benefits to match. We offer Health Savings Accounts (HSAs) to accommodate the needs of local businesses.

An HSA allows you, and the employee, to make contributions toward medical expenses. Reduce your company's insurance premiums and benefit from tax deductions at the same time. Plus, there's very little administrative burden for your business to keep up with. Stop by an F & M branch, and we'll be happy to walk you through the simple process.


Employee Details

  • Greater personal control over healthcare management and expenses
  • Prepare for qualified medical expenses
  • Earn competitive interest on entire balance
  • Make tax-free withdrawals for qualified medical, dental, vision expenses, and more*
  • Accessibility to funds**
  • Additional personal contributions may be made, tax-free
  • Unused funds remain in account
  • Keep your HSA in your name, regardless of career or life changes
  • Federally insured by FDIC
  • No minimum deposit to open

Company Details

  • Provide great benefit to employees
  • Helps retain and attract good employees
  • Contributions are tax deductible*
  • Reduced insurance premiums
  • Little administrative burden

*When used for qualified medical expenses. Consult a tax adviser. Qualified expenses include most medical care and services, dental and vision care, weight loss programs, some over the counter medications, mileage, and more.

**You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty tax.


Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.