A Health Savings Account (HSA) is a tax-exempt trust or custodial account
established exclusively for the purpose of paying or reimbursing qualified
medical expenses of you, your spouse, and your dependents. Contributions to and
HSA are tax free. Distributions not used to pay
for or reimburse qualified medical expenses roll over are tax free. Distributions not used to
pay for qualified medical expenses are subject to
a tax penalty of 10%.

If you are eligible, you can establish an HSA in much the same way you would
establish an IRA – with a qualified trustee or custodian, such as the Iowa Falls
State Bank. If you meet the eligibility requirements, you, your employer, your
family members and any other person (including non-individuals) may contribute
to your HSA.

Eligibility requirements for HSA's are; You must be covered by a health plan
with a minimum deductible of $1,050 for individuals or $2,100 for families. Your
annual out-of-pocket expenses (including deductibles and co-pays) cannot exceed
$5,250 for individuals or $10,500 for families.

Just like IRA's, there are contribution, and catch-up limits and deadlines
per year.

A Health Savings Account can help you take more control over your health care
expenses and save on taxes.  An Iowa Falls State Bank Personal Banker would
be glad to visit with you, to find out if you are eligible for an HSA.