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Health Savings Accounts

Confused about managing your healthcare dollars? A Health Savings Account (HSA) can be an excellent, cost-effective way to pay for health care costs and also to save money. With an HSA from First Farmers Bank & Trust you receive a competitive variable interest rate and check writing convenience, along with tax advantages (check with your tax advisor).


Checking Account
Your HSA will be deposited with First Farmers Bank & Trust (Member FDIC).  You will receive a monthly account statement, which details all deposits and withdrawals. If you have written checks, you will receive images of the checks with your statement. Your account balances are FDIC insurance up to the limits imposed by the FDIC.  

Debit MasterCard
Your Debit MasterCard can be used for your convenience to make Qualified Healthcare purchases anywhere MasterCard is accepted. Purchases will be automatically deducted from your HSA.  Certain fees may apply see Truth-in-Savings.

If you ordered HSA Checks you will receive a special supply of Health Savings Account checks that can be used to pay for your Qualified Healthcare Expenses.  

Interest Rates
Your account may earn interest if you’re HSA account balance meets certain guidelines. For additional information see Truth-in-Savings.

Internet Access
You will have access to your account balances & activity thru our web site.  

24 Hour Telephone Banking
You will have toll free access to your account balances & activity thru 1-888-350-3799. Once your HSA account is established simply call and sign up at no cost.


HSA accounts encourage savings for future medical expenses

  • Non-covered services under future coverage
  • When employer-sponsored coverage is lost during periods of unemployment

Other coverage

  • Medical expenses after retirement (before Medicare eligibility)
  • Insurance coverage after Medicare eligibility (except Medigap)
  • Out-of-pocket expenses for Medicare
  • Long-term care expenses

Cobra continuation coverage cccounts are owned by the individual (not an employer). The individual decides:

  • How much to contribute
  • How much to use for medical expenses
  • Which medical expenses to pay from the account
  • Whether to pay for medical expenses from the account or save the account for future use.
  • Which company will hold the account

Accounts are completely portable, regardless of:

  • Whether the individual is employed or not
  • Which employer the individual works for
  • Which state an individual moves to
  • Age or marital status changes
  • Future medical coverage

No “use it or lose it rules” like Flexible Spending Arrangements (FSAs)

  • Unspent balances in accounts remain in the account until spent on medical care
  • Encourages account holders to spend their funds more wisely on their medical care
  • Encourages account holders to shop around for the best value for the health care dollars

HDHP premiums should be cheaper than health insurance with traditional deductibles Favorable tax treatment

  • Contributions
  • Disbursements 

People you can trust
If you have any questions about our products and services, please use our information request form, visit any of our offices, or call (800) 371-3316 to speak with a member of our staff. We will be happy to answer your questions and assist you in selecting the products and services that best meet your financial needs.

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First Farmers Bank & TrustMember FDIC Equal Housing Lender