Thinking about your health?

Citizens First Bank (CFB) is proud to offer Health Savings Accounts (HSAs) to its valued community members. These HSAs come with many advantages, providing a smarter way to manage health expenses while enjoying significant tax benefits.

Key Advantages of Opening an HSA at CFB:

  1. Competitive Interest Rate:Our HSAs offer a competitive interest rate, ensuring your health savings grow with the market.
  2. 24/7 Access to Tax Forms:Seamlessly access your tax forms using CFB Digital Banking whenever you need them, providing convenience at your fingertips.
  3. Tax-Free Contributions:Contribute to your HSA with pre-tax dollars, reducing your taxable income and providing immediate financial relief.
  4. Tax-Free Growth:Watch your HSA balance flourish without being subjected to any taxes as it grows over time.
  5. Tax-Free Distributions:When you use your HSA for qualified medical expenses, rest assured that your distributions remain entirely tax-free.
  6. Tax Advantage:Benefit from a dollar-for-dollar tax advantage, exempt from Social Security and Medicare taxes with every contribution.
  7. Supplement Your Retirement:At the age of 65, leverage your HSA for non-qualified medical expenses, paying only ordinary income tax.

A Health Savings Account (HSA) is a powerful financial tool that allows you to set aside money on a pre-tax basis, strategically lowering your out-of-pocket healthcare costs. By utilizing untaxed dollars for deductibles, copayments, coinsurance, and other qualified medical expenses, you can make informed decisions about your health and financial future.

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Citizens First Bank remains committed to fostering financial literacy within the community, and the introduction of HSAs is another testament to our dedication to your financial well-being.

For more information, please visit CFB Health Savings Accounts.

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