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First State Bank and Trust Co.

Business HSA

HSAs are accounts where employers and employees make contributions and earn interest tax free. If the money withdrawn from these accounts is for qualified medical expenses, then that money is also tax free. Employees manage their own accounts.

  • $50 minimum balance required to open the account.
  • $25 annual maintenance fee will be assessed at the account opening and for each tax year thereafter.
  • Select checks are free with this account.
  • You’ll receive a bank statement reflecting your account activity with images of any canceled checks.
  • Drive-in/night deposit service for after-hours deposits.
  • Complimentary access to our online bill payment system, making it easy to pay for qualified medical expenses.
  • Includes a Visa® Debit Card you’re free to customize to reflect your business. 
    Customize Your Debit Card!
Have any recurring deposits sent directly to your bank account with direct deposit. There are no initial setup fees or transaction fees for direct deposit. Deposits are limited to the annual standard contribution limit plus eligible “catch-up” contributions.

Standard Contribution Limits

Tax Year Self-Only Coverage Family Catch-Up Contribution Limit
2020 $3,550* $7,100* $1,000
2021 $3,600* $7,200* $1,000

* Subject to annual cost-of-living adjustments.