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Oregon's Resource for the Affordable HealthCare Act ACA

 

 
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Health Companies
PacificSource
Moda Health
Providence OR
Kaiser OR

Serving Clients in the following Counties and Cities.  This is not a complete list, as we help all clients in Oregon

Baker
Benton
Clackamas
Clatsop
Columbia
Coos
Crook
Curry
Deschutes
Douglas
Gilliam
Grant

Harney
Hood River
Jackson
Jefferson
Josephine
Klamath
Lake
Lane
Lincoln
Linn
Malheur
Marion

Morrow
Multnomah
Polk
Sherman
Tillamook
Umatilla
Union
Wallowa
Wasco
Washington
Wheeler
Yamhill

Cities by Counties

Baker County

Baker City
Greenhorn
Haines
Halfway
Huntington
Richland
Sumpter
Unity

Benton County

Adair Village
Albany
Corvallis
Monroe
Philomath

Clackamas CountyBarlow
Canby
Damascus
Estacada
Gladstone
Happy Valley
Johnson City
Lake Oswego
Milwaukie
Molalla
Oregon City
Portland
Rivergrove
Sandy
Tualatin
West Linn
Wilsonville 

Clatsop County

Astoria
Cannon Beach
Gearhart
Seaside
Warrenton

Columbia CountyClatskanie
Columbia City

Prescott
Rainier
Scappoose
St. Helens
Vernonia 

Coos County

Bandon
Coos Bay
Coquille
Lakeside
Myrtle Point
North Bend
Powers 

Crook County

Prineville

Curry County

Brookings
Gold Beach
Port Orford 

Deschutes County

Bend
La Pine
Redmond
Sisters

Douglas County

Canyonville
Drain
Elkton
Glendale
Myrtle Creek
Oakland
Reedsport
Riddle
Roseburg
Sutherlin
Winston
Yoncalla

Gilliam County

Arlington
Condon
Lonerock 

Grant County

Canyon City
Dayville
Granite
John Day
Long Creek
Monument
Mt. Vernon
Prairie City
Seneca 

Harney County

Burns
Hines

Hood River County

Cascade Locks
Hood River

Jackson County

Ashland
Butte Falls
Central Point
Eagle Point
Gold Hill
Jacksonville
Medford
Phoenix
Rogue River
Shady Cove
Talent

Jefferson County

Culver
Madras
Metolius

Josephine County

Cave Junction
Grants Pass

Klamath County

Bonanza
Chiloquin
Klamath Falls
Malin
Merrill

Lake County

Lakeview
Paisley

Lane County

Coburg
Cottage Grove
Creswell
Dunes City
Eugene
Florence
Junction City
Lowell
Oakridge
Springfield
Veneta
Westfir

Lincoln County

Depoe Bay
Lincoln City
Newport
Siletz
Toledo
Waldport
Yachats 

Linn County

Albany
Brownsville
Halsey
Harrisburg
Idanha
Lebanon
Lyons
Mill City
Millersburg
Scio
Sodaville
Sweet Home
Tangent
Waterloo 

Malheur County

Adrian
Jordan Valley
Nyssa
Ontario
Vale

Marion County

Aumsville
Aurora
Detroit
Donald
Gates
Gervais
Hubbard
Idanha
Jefferson
Keizer
Mill City
Mt. Angel
Salem
Scotts Mills
Silverton
St. Paul
Stayton
Sublimity
Turner
Woodburn

Morrow County

Boardman
Heppner
Ione
Irrigon
Lexington

Multnomah County

Fairview
Gresham
Maywood Park
Portland
Troutdale
Wood Village 

Polk County

Dallas
Falls City
Independence
Monmouth
Salem
Willamina

Sherman County

Grass Valley
Moro
Rufus
Wasco

Tillamook County

Bay City
Garibaldi
Manzanita
Nehalem
Rockaway Beach
Tillamook
Wheeler 

Umatilla County

Adams
Athena
Echo
Helix
Hermiston
Milton-Freewater
Pendleton
Pilot Rock
Stanfield
Ukiah
Umatilla
Weston

Union County

Cove
Elgin
Imbler
Island City
La Grande
North Powder
Summerville
Union 

Wallowa County

Enterprise
Joseph
Lostine
Wallowa 

Wasco County

Antelope
Dufur
Maupin
Mosier
Shaniko
The Dalles

Washington County

Banks
Beaverton
Cornelius
Durham
Forest Grove
Gaston
Hillsboro
King City
North Plains
Portland
Rivergrove
Sherwood
Tigard
Tualatin 
Wilsonville 

Wheeler County

Fossil
Mitchell
Spray

Yamhill County

Amity
Carlton
Dayton
Dundee
Lafayette
McMinnville
Newberg
Sheridan
Willamina
Yamhill

 

Health Insurance Companies Plans and Rates

A Real Person will Answer, give me a call - Doug Ellsworth 503-922-2903

Below are Companies who are offering coverage inside and outside the "Portal" meaning Tax Credits and adjusted premiums may not apply.  To see Actual Rates and Plan descriptions for HealthCare.gov and the Affordable Care Act or Obama Care you need to contact me at 503-922-2903

Enroll now in OR LifeMap Short Term Medical!

 

PacificSource Plans and Rates

Moda Health Plans for Individuals and Families

 

Kaiser Permanente Plans and Rates

 

 

BridgeSpan Health Plans and Rates

Providence Health Plans and Rates

Regence Oregon Logo - 203x53px

Regence BlueCross Networks

Individual And Family Network / OHSU Health Network

PeaceHealth Network / Legacy LHP Network

 

National General Short Term Medical

Accident Medical Rider

 

Careington Dental $11.95

"505" Fee Schedule

"POS CI-8" Fee Schedule 

Delta Dental PPO and Exclusive PPO Dental

HSA, Health Savings Account

First American Bank

HSA Information and account set up links

 

A Health Savings Account (HSA) from First American Bank is a great way to save for your health care deductible, while taking advantage of tax savings.

What is an HSA?

A Health Savings Account is a tax-exempt trust or custodial account which you use to pay qualified medical expenses for you and your family. 

Who is Eligible for an HSA?

To be eligible and qualify for an HSA, you must meet the following requirements:

  • You are covered under a high-deductible health plan (HDHP) on the first day of that month;
  • You are not covered under another type of health plan that is not an HDHP (certain exceptions apply);
  • You are not enrolled in Medicare (generally, are under 65 yrs. old); and
  • You may not be claimed as a dependent on another individual's tax return.

Why Choose an HSA?

  • The HDHP generally costs less than traditional health care coverage. Money saved on the insurance premium can be put into the HSA.
  • Contributions to your HSA are tax deductible.
  • After age 65, HSA funds can be used for non-qualified expenses without penalty. Only income tax is assessed.
  • Use the pre-tax funds in your HSA to pay for current medical expenses or expenses that your insurance may not cover including dental expenses, vision care, Medicare expenses, and long term care. See publication 502  on the IRS website for a complete list of qualified expenses.
  • Save the money in your HSA for future medical expenses.
  • No use it or lose it philosophy - the HSA funds remain in the account from year to year. Even if your HSA compatible coverage ends, you can still use the funds tax free for qualified medical expenses.
  • You are in control of your HSA. Funds belong to you even if you switch jobs, become unemployed, or change your medical coverage.

The following sections are intended to answer common questions regarding Health Savings Accounts and how they work. If you would like further detail, please visit the HSA section of the Internal Revenue Service website, Internal Revenue Service –Rules and Regulations.

 

Click on a FAQ category below, then click on each question to get the answer.

Health Savings Accounts FAQ

What is a Health Savings Account?
A Health Savings Account (HSA) is a tax-exempt trust or custodial account which you use to pay qualified medical expenses for you and your family.
Am I eligible for an HSA?
If you meet the following criteria in any one month, you are eligible:
  • You are covered under a high-deductible health plan (HDHP) on the first day of that month;
  • You are not covered under another type of health plan that is not an HDHP (Certain exceptions apply);
  • You are not enrolled in Medicare (generally, are under 65 yrs. old); and
  • You may not be claimed as a dependent on another individual's tax return
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What is an HDHP?
For 2018, an HDHP is a plan with an annual deductible of at least $1,350 for individual coverage ($1,350 for 2019) or $2,700 for family coverage ($2,700 for 2019). These amounts are subject to cost-of-living adjustments (COLAs).

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Who can contribute to my HSA?
Once you have met the requirements, anyone may contribute to your HSA, regardless of your employment status.

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How do I make a deposit into my HSA account?
There are several ways to make deposits easily to your First American HSA account. You can:
  • Set up an automatic deposit from your employer
  • Wire funds to your account
  • Transfer funds from another First American Account
  • Mail your deposit to:

    First American Bank
    Attn: HSA Department
    P.O. Box 0794
    Elk Grove Village, IL 60009

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What are the Federal Tax benefits of an HSA?
100% of your contribution is deductible. Furthermore, the earnings grow tax deferred and all qualified distributions are tax free. Be sure to consult with your tax or legal professional for guidance.

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How do I claim the Federal Tax Deduction for my HSA contribution?
Any contributions made by you and any other person on your behalf are deductible as long as they do not exceed the maximum annual contribution amount. Employer contributions are not deductible. However, any employer contributions do not count as wages for federal income tax purposes.

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When is the contribution deadline for funding an HSA?
Any contributions for the taxable year can be made in one or more payments, at the convenience of the individual or the employer, at any time prior to the time prescribed by law (without extensions) for filing the eligible individual’s federal income tax return for that year, but not before the beginning of that year. For calendar year taxpayers, the deadline for contributions to an HSA is generally April 15 following the year for which the contributions are made. Although the annual contribution is determined monthly, the maximum contribution may be made on the first day of the year.

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How are HSA distributions taxed?
Qualified distributions from your HSA are excludable from gross income. Any other distributions are included in your gross income and are subject to an additional 20% tax on the amount included, except in the following cases:
  • Your death
  • Your disability
  • You reach the age of 65
Any HSA distributions that are not rolled over will be taxed as income in the year they are distributed, unless used for qualified medical expenses. HSA custodians/ trustees are not required to determine whether HSA distributions are qualified. The qualified medical expenses must be incurred only after the HSA has been established.

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What happens to my HSA in the event of my death?
If you are married and your spouse is your beneficiary, the HSA becomes their HSA.

If your beneficiary is not your spouse, the HSA ceases to be an HSA effective on the date of your death. The proceeds will be included in the beneficiary’s gross income for the year of death.

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How do I know whether my expenses are qualified or not?
It is your responsibility to be sure that you are paying qualified health care expenses from your Health Savings Account.

The best way for you to be sure if your expenses are qualified is to refer to Section 213 of the IRS Code, under Publication 502: Medical and Dental Expenses.  To order IRS Publication 502, call 1-800-TAX-FORM (1-800-829-3676), or go to www.irs.gov

Please consult with your tax advisor regarding these matters.  First American Bank is not responsible for determining if your distributions qualify, nor do we provide tax advice.

Health SavingsPLUS Accounts FAQ

What is a Health SavingsPLUS (HSA PLUS) Account?
The First American HSA PLUS account allows you to invest a portion of your HSA in a variety of mutual funds. These mutual funds may provide higher yields than you would otherwise earn if your funds were left solely in your HSA.

The Health SavingsPLUS Account is composed of two parts:
  • A checking portion – This is an interest bearing account that works just
  • like our traditional HSA. You can write checks, make deposits, and use your debit card to pay any medical bills. This portion is insured by the FDIC.
  • An investment portion – You may invest in a variety of nationally recognized mutual funds. Monies in this portion are not insured by the FDIC, not bank guaranteed and may lose value.
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What are my investment options?
Every investor should be able to design an investment plan to meet their individual needs and goals. We have selected several nationally recognized mutual funds. See current fund offerings.

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Is there a minimum investment amount?
No. However, you need to have a balance exceeding $2,000 in the checking portion of your account prior to making any investments. While your balance may fall below $2,000 as you pay medical expenses, you will need to bring your balance back above $2,000 before you can make any additional investments.

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How do I choose the mutual funds that are appropriate for me?
Read carefully each fund's prospectus which includes information on the fund's investment objectives, risk, charges, and expenses along with other information before investing or sending monies. You may also choose to consult with your financial advisor to determine appropriate investment options.

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Are the funds FDIC insured?
An investment in the Health SavingsPlus mutual funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Although the funds seek to preserve the value of your investment, it is possible to lose money by investing in the funds. Investors should consider these and other relevant facts when choosing among investment options under an HSA, particularly if the need arises to have to finance short-term medical costs out of an investment account.

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Who is Devenir and what is their role?
Devenir, LLC is a registered investment advisor and Broker Dealer member NASD/SIPC that was chosen by First American Bank to research and select the Health SavingsPLUS Account investment options. Devenir's investment selection methodology screens the plan's mutual fund options on a number of criteria, which includes, but is not limited to, total fund performance, category ranking by Morningstar® and track record. Devenir will periodically review and may recommend changes in the program's group of mutual funds if a particular fund no longer meets the investment selection criteria. You will not be given separate notice of these changes; however, the Current Funds page will always list the current group of mutual funds and provide access to fund prospectuses. Any change in the group of mutual funds will not affect amounts you have previously invested and you may continue to hold that fund. However, you will not be able to make any new investment into that fund.

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How do I invest my money?
In order to invest monies into the investment portion of your HSA Plus account, click here to sign in. You can now select "Set Future Invest Selections" to change the allocation of future contributions to your investment account or select "Realign HSA Investments" to change your current holdings.

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How do I get access to my invested funds?
Generally, you will be able to have online access to your invested funds the day after you've activated that portion of your account. Click here to log in.

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How can I pay for eligible expenses?
You may only access funds in the checking portion of your Health SavingsPLUS Account. If you wish to use the assets from your investment portion to pay for your medical expenses, you must redeem your mutual fund holdings and transfer the proceeds to the checking portion of your account. The assets from the investment portion can only be accessed by transferring to the checking portion of your Health SavingsPLUS account. Funds will not be available on a same day basis. Please allow up to 5 business days for the funds to be available in the checking portion of your account.

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Do I need to deposit funds into the checking portion of my Health SavingsPLUS account before moving funds into the investment portion?
Yes. You can only make deposits into the checking portion of your account. Once the funds are available in the checking portion and your balance exceeds $2,000, you may transfer money to the investment portion.

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How do I change my investment allocations?
At any time you may log onto the HSA PLUS Investment site from our website to change your allocations. If you have a question that was not answered please contact us by Email or call our Toll Free HSA Help Line at (866) 449-1150 or call us at (847) 952-3700 (press 2 then press 4).

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If you have any additional questions please contact us at HSA@firstambank.com or call our toll free HSA Help Line at (866) 449-1150 or locally (847) 952-3700 (option 2,  then 4).

 

 

 





Mitch Rosenbloom
Health Savings Account Manager, AVP

First American Bank
1650 Louis Avenue
Elk Grove Village, IL 60007
Phone/Fax (847)586-2010
Cell: (847)857-1542
Health Savings Customer Service (866)449-1150
 

First American Bank is pleased to introduce our Health Savings Accounts (HSA). As you are aware, a High Deductible Health

Plan (HDHP) combined with an HSA is an innovative way for your company to combat the rising costs of healthcare. We

have developed very competitive HSA products, and we are interested in developing a relationship with you to offer our

accounts to your employees.

Why choose an HSA?

The HDHP generally costs less than traditional health care coverage. Money saved on the insurance premium can be

put into an HSA.

Contributions to your HSA are tax deductible. IRS guidelines in 2013 allow max contributions up to $3,250 for

individuals and $6,450 for a family plan. For 2014, the max contributions are up to $3,300 for individuals and $6,550

for a family plan. If you are over 55, you can contribute an additional $1,000 "catch-up" to your HSA. If you have a

spouse who is over 55, you must open a second account in order to take advantage of the catch up contribution.

After age 65, HSA funds can be used for non-qualified expenses without penalty. Only income tax is assessed.

Use the pre-tax funds in your HSA to pay for current medical expenses or expenses that your insurance may not cover

including dental expenses, vision care, Medicare expenses, and long-term care. See publication 502 on the IRS

website for a complete list of qualified expenses.

Save the money in your HSA for future medical expenses.

There is "no use it or lose it" philosophy – the HSA funds remain in the account from year to year. Even if your HSA

compatible coverage ends, you can still use the funds tax free for qualified medical expenses.

You are in control of your HSA. Funds belong to you even if you switch jobs, become unemployed, or change your

medical coverage.

First American Bank offers two types of Health Savings Accounts:

Our Health Savings Account is a free account* which pays interest based on the balance in the account.

Our Health SavingsPLUS Account offers all of the benefits of our Health Savings Account; in addition it allows you to invest

a portion of your HSA in a select group of mutual funds.**

For over 30 years, First American Bank has operated on the philosophy that the needs of our customers come first, and we

build our business one satisfied customer at a time. Our size and management philosophy make it possible for us to give

you the best of both worlds: big bank financial services coupled with the personal attention only a smaller bank can provide.

We place great emphasis on building strong customer relationships and we’re driven to assist you with needs beyond the

specific product at hand.

We can accommodate your HSA needs and look forward to working with you. Please don’t hesitate to call our toll free HSA

Help Desk (866) 449-1150 or locally (847) 952-3700, option “2”, and then option “4”.

*A $3.95 monthly fee will be charged if the customer elects to receive a paper statement. The fee will be waived if; 1) the customer elects to receive electronic statements only; or 2) a combined minimum average daily balance of

$2,000 is maintained between the checking portion of the Health Savings Account and an associated checking, NOW, savings or money market account. Member FDIC.

**Disclaimer: Investors should carefully read the Fund prospectus, which includes information on the Fund’s investment objectives, risk, as well as charges and expenses along with other information before investing or sending

money. Funds in the investment portion of your Health SavingsPLUS account are not FDIC insured, May Lose Value and are Not Bank Guaranteed.

Neither First American Bank nor its subsidiaries (collectively “First American Bank”) are registered investment advisors nor is First American Bank acting in the capacity of a registered investment advisor with respect to the

offering of Health Savings Account (“HSA”) investment options. Participation in the investment options is voluntary. Under no circumstances is First American Bank offering any of the HSA investment options and makes no

representations with respect to the investment options offered.

First American Bank disclaims any and all liability, contingent or otherwise, for the performance of the investment options. Please see your personal financial advisor for personal investment advice.

The Enrollment Process:

Step 1: Apply for a First American Bank HSA

There are two convenient ways to apply:

1) Online at www.firstambank.com

2) Contact your assigned HSA Account Manager if you require paper applications:

Mitch Rosenbloom, (847) 586-2010 or mrosenbloom@firstambank.com

Adam Geiger, (847) 586-2261 or ageiger@firstambank.com

Step 2: Submit Applications to First American Bank

1) Online Application

a. If your employee applies online, the account opening process has already begun.

b. First American can provide your organization a link that will allow your employees to apply online.

2) Paper Application

a. You will be in control of the account opening process for paper applications.

i. Collect all applications.

ii. Verify that all signatures and identification information has been completed. This includes issue and

expiration dates, and the identification number for the primary identification.

iii. Submit all applications at the same time.

A checklist is provided with the application regarding identification information.

Submit applications by the following two methods:

1) By mail: First American Bank, Attn: HSA Processing Center

P.O. Box 0794, Elk Grove Village, IL 60009

2) By fax: Attention: HSA Department (847) 264-2308

First American Bank - ID Information:

Primary Identification:

U.S. Drivers License

U.S. Passport

U.S. State ID Card

Foreign Passport

U.S. Armed Forces Card

Matricula Card

Secondary Forms of ID: (Necessary only if an individual has not passed our verfication process)

Any of the above forms of ID

State Voters Registration Card

State U.S. Birth Certificate

U.S. Alien Registration Card

U.S. Auto Registration Form

Student ID Card

Current Utility Bill

Identification information is required for the account signer and the additional signer (if applicable).

Identity Verification:

Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. Therefore, when your employees enroll in an HSA we will ask for name, address,

DOB, and other information that will allow us to identify each individual. We may ask for Driver's License information or other identifying documents. All new accounts are verified through Chexsystems.

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Transfers:

Are your employees transferring their current HSA to First American Bank?

Our application contains all of the necessary information to transfer funds from another HSA. To ensure a smooth transition,

please notify your HSA Account Manager if an employee will be transferring. Depending on the financial institution from

which your employee is transferring, the process could take several weeks.

Step 3: Employer Verification Letter

As part of the application please include an employer verification letter with your employee applications. The necessary

elements of this letter are listed below. If we receive the letter at the time of application, this will expedite the process of

opening your employee’s accounts. If we do not receive the letter we will need to contact you or your employee.

Requirements for the Employer Verification Letter:

1) Printed on your company’s letterhead

2) Include the name, social security number, date of birth and address of the employee (multiple employees are

allowed on a single employment verification form)

3) The signature or the Human Resource Manager, or other corporate officer

4) The title and phone number of the individual who has signed the form (see sample enclosed)

Step 4: Funding Options

EMPLOYERS: There are three options available to fund your employees’ accounts:

1) Automated Clearing House (ACH) - Preferred Method

The ACH transfer can be originated by your bank or a direct deposit payroll system. The payroll field for the Heath

Savings Account is an additional deduction similar to your 401k. Please remember that although this type of

account is titled Health Savings Account, the actual account type is a “checking account”. It takes one business day

and a maximum 48 hours for an ACH to post to the account. In order to send an ACH you will need the routing

number and account numbers of your employees’ HSA accounts.

First American Banks’ ABA Routing Number is 071922777.

2) Ca$hTrac (fees apply)

If you do not have the capability of direct deposit (ACH) and would like to deposit monies into your employees’

accounts, you have the option of using our proprietary online business banking system “Ca$hTrac”. Ca$hTrac will

allow you to directly debit an operating account and credit employees’ individual accounts within 48 hours. If you

are interested in learning more, please contact your assigned HSA Account Manager.

3) Check

You can fund your employee’s accounts by sending a check accompanied by a list of the employees’ name and their

account number (see sample enclosed). Please make the check payable to First American Bank. Please be advised

that out of state checks can take up to five business days to process.

EMPLOYEES: There are two options available to employees who wish to contribute to their HSA:

1) Automatic Transfer - Preferred Method

Employees can complete the HSA Auto Savings form which will allow First American Bank to automatically deduct

funds from the employee's personal checking or savings account on a one-time or recurring basis.

2) Check

A check made payable to the employee (accountholder) or First American Bank can be mailed to the bank or

deposited at any of our 49 branch locations.

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How to Contact First American Bank HSA Department

You may contact First American Bank's HSA Department through one of the following methods:

Mail: First American Bank

Attn: HSA

P.O. Box 0794

Elk Grove Village, IL 60009

E-Mail: HSA@FirstAmBank.com

Phone: Toll Free (866) 449-1150

Locally (847) 952-3700, select Option “2”, and then Option “4”

Fax: (847) 264-2308

Time Line

The entire account application process should not take longer than 5 business days if all the required information is

provided.

A debit card is ordered when we receive the completed applications*.

If your employee has requested checks, we will place the order when the account is funded.

Checks and debit cards will arrive in 7-15 business days. If a deposit has not been made to the account, then the

checks will be ordered upon receipt of initial contribution.

If you have any questions please feel free to contact our HSA Help Desk toll free at (866) 449-1150 or locally at

(847) 952-3700, select option “2”, and then option “4” or by email HSA@FirstAmBank.com.