PART II - VERIFICATION OF ELIGIBILITY
According to the IRS rules, only qualified individuals are eligible to open a Health Savings Account. Please read the following information and then check the box to confirm your eligibility.
* Are covered under a qualifying high-deductible health plan which meets the minimum deductible and the maximum out-of-pocket threshold for the year.
* Are not covered by any other medical plan, such as a spouse’s plan.
* Are not enrolled in Medicare.
* Are not claimed as a dependent on someone else’s tax return.
* Have not used Veterans Administration medical benefits in the past three months (exceptions apply to veterans enrolled in a high-deductible health plan who either have a service-connected disability or have only accessed disregarded coverage and preventive services in the past three months.
* Do not have any disqualifying alternative medical savings accounts, like a Flexible Spending Account or Health Reimbursement Account.
You are making excellent progress toward the opening of your HSA and are on your way to benefitting from its triple-tax advantages. A Relationship Banker will be contacting you to finalize any details about your HSA, including:
1) Beneficiary Designation. Another benefit of having an HSA is that if you accumulate more money than you need in your account, the unused funds will go to your beneficiary when you die. The named beneficiary(ies) determines how your HSA money is handled after you die.
2) Identity Verification. Examples of acceptable identity verification documents include:
* For address verification: A driver's license, state identification, bank statement, or a current phone or utility bill displaying the input address. Note: You must use your residential address, not a P.O. Box.
* For a Social Security number: A social security card.
* For date of birth: A driver's license, U.S. passport, birth certificate, or state identification.
* For name validation: A social security card, passport, birth certificate, divorce decree, legal name change certificate, or state identification.
Once details are finalized, you can sign documents electronically through DocuSign or in-person at a First National Bank location.
Thanks for selecting First National Bank as place to service your financial needs. You will hear from us soon!