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Let F&M Bank Help You Take Control Of Your Healthcare Costs.

Medical expenses can be expensive and overwhelming. F&M Bank can help prepare you and your family for unexpected medical expenses with a Health Savings Account (HSA). An F&M Health Savings Account compliments your high deductible health plan by allowing you to put money away for medical expenses that fall below the deductible. Read below to see if you would qualify and if an HSA is right for you.  

Benefits of a Health Savings Account:

  • Health insurance can cost less
  • Savings to help pay your deductible
  • Peace of mind from unexpected medical bills 

Your HSA Offers A Triple Tax Benefit:*

  • Contributions are made pre-tax
  • Interest earnings on the account are not taxable
  • Taxes are not paid on withdrawn funds, as long as they are used for eligible expenses**

What Your F&M Bank HSA Offers You:

  • Access your funds to cover medical expenses with an F&M Bank Debit Card or Checks
  • Earn a competitive rate of interest
  • Manage your account through FREE Online Banking
  • Pay medical bills through FREE Bill Pay
  • Surcharge free ATMs
  • Easily transfer funds in and out of your account
  • Unused money rolls over from year to year, there is no "use it or lose it" policy
  • Your account is portable - If you change jobs you can continue using the same account 

2019 Annual Contribution Limits:

  • $3,500 for individuals (self-only coverage)
  • $7,00 for family coverage
  • $1,000 catch-up contribution, ages 55+

Check out our Get Started and FAQs page. 

Qualifying for an HSA:

In order to be eligible for an HSA, you must be covered by a High-Deductible Health Plan (HDHP).  In 2017, a HDHP is a health plan with:


  •  A deductible of at least $1,350 for single coverage
  • A deductible of at least $2,700 for family coverage
  • A maximum annual out -of-pocket expense limit for allowing costs, not exceeding $6,650 for single coverage and $13,300 for family coverage
  • Limit does not apply to deductibles & expenses for out-of-network services if the plan uses a network of providers 
  • Only deductibles and out-of-pocket expenses for services within the network should be used to figure whether the limit applies
You must also meet the following criteria:
  • You must not be covered by any other health plan other than another HDHP (with limited exceptions)
  • You must not be eligible to be claimed as a dependent on another person's taxes
  • You are not enrolled in Medicare. 


Contact a banker today for more information or to get started on your HSA.  

Ready to open your account?  Start here


Eligibility for an HSA is determined by Federal Law.  It is your responsibility to ensure you are eligible. 

*Consult with a tax advisor. F&M Bank does not provide tax or accounting advise. 

**For a complete list of qualified medical expenses, please visit