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A tax-advantaged investment account that is used for medical expenses for individuals enrolled in High Deductible Health Care Plans.



A tax-advantaged investment account that is used for medical expenses for families enrolled in High Deductible Health Care Plans.



A Health Savings Account (HSA) is a tax-advantaged1 investment account that is used for medical expenses for participants in High Deductible Health Care Plans. Contributions made into the HSA - either by an individual or employer - could reduce taxable income. The money in the HSA can be used for qualified medical expenses for yourself, spouse, or dependent children.

In a High Deductible Health Care Plan, your premiums are lower than traditional health insurance plans. With the money saved from lower premiums, you can deposit that money into an HSA to help pay for future medical costs.

The money deposited is generally pre-tax deductions from your paycheck. The funds withdrawn are not taxed, provided they are used for qualified medical expenses. Best of all, you can start using the funds right away, and they always stay with you if you ever switch from one job to another.

HSAs are designed so that you can always withdraw money when you need it. The money can be withdrawn by either a debit card or by writing a check. Money you don't withdraw has the potential to grow and accumulate interest. With no enrollment fee for our HSA, you can save even more money.



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Some Qualified Medical Expenses:

  • Deductibles
  • Co-insurance
  • Co-payments

As well as many other expenses not covered under medical plans including costs for services and items covered by the health plan but subject to cost sharing. For more information regarding qualified medical expenses, please visit

Some features include:

See any service associate for more information, or visit


Rates are tiered based on account balance and may vary - ask for current rates. Interest is accrued daily and credited monthly.

Minimum Opening Deposit:

No minimum opening deposit!

Monthly Service Fees:

Other service fees may apply. Please see our Banking Fees.

¹Not to be construed as tax advice. Please consult your attorney or tax adviser. ²Must be 18 years of age to use Bill Pay.  A $25 transfer fee will be charged to the Health Savings Account if funds are transferred from First Merchants Bank to another financial institution.