ELK GROVE VILLAGE, ILLINOIS, UNITED STATES, December 12, 2022 /EINPresswire.com/ — First American Bank â€“ a privately held, full-service bank with more than $6 billion in assets â€“ was officially recognized for having one of the best Health Savings Accounts (HSAs) for 2023 by Investorâ€™s Business Daily. The award-winning bank dominated the Widest Investment Options category with an FDIC-insured HSA offering that features 28 mutual funds, including index and target-date retirement funds from Vanguard, and a Health Savings Brokerage Account powered by Charles Schwab.
Investorâ€™s Business Daily curated their list of the 13 Best HSA Accounts for 2023 by weeding out providers that donâ€™t offer an investment option and then taking a closer look at account features, customer reviews, input from benefit consultants and Morningstar fund ratings.
â€œHSAs are a great tool for managing your health care expenses, and on top of that, it is a great retirement planning tool with triple tax advantages. Unfortunately, consumers often struggle with choosing the best account for their needs. Investorâ€™s Business Daily has done a great job analyzing several providers and created a list of the best HSA offerings, and weâ€™re proud to be a part of this elite group,â€� said Mitch Rosenbloom, Health Account Services Sales Manager at First American Bank. “We currently serve individuals, families, and employers of all sizes and industries through more than 40,000 HSA accounts nationwide, and we look forward to working with our current and future customers as they lower their taxes, pay for health care more easily and even save for retirement.â€�
HSAs have many benefits, such as giving people with high-deductible health plans the freedom to pay for medical expenses and allowing young consumers to set aside pretax funds for investment opportunities like stocks, ETFs and mutual funds.
Consumers who choose First American Bankâ€™s HSA account offering will access a number of benefits, including:
â€¢ $0 monthly maintenance fee
â€¢ $0 minimum balance
â€¢ First American Bank health mobile app
â€¢ 24/7 account access to the consumer portal
â€¢ $1,000 investment threshold
â€¢ Competitive interest rates
For more information on First American Bankâ€™s HSA offering, please visit https://www.firstambank.com/HSA.
ABOUT FIRST AMERICAN BANK
First American Bank is a privately held multi-state full-service community bank. We started out nearly 50 years ago as a combination of community banks serving the Chicago metropolitan area. Since then, weâ€™ve grown to become the largest privately held bank in Illinois with 61 locations across Florida, Illinois, and Wisconsin and over $6 billion in assets. Our focus has consistently revolved around three core values: creating solutions, exceptional customer service, and unmatched expertise in commercial banking, wealth advisory, and personal finance solutions.
For some, banking is a transaction. For us, it is a continuous financial partnership. Our services span from a robust network of personal and online banking to working capital solutions, business loans, and trade advisory for business owners and manufacturers — all strengthened by private banking offerings giving our clients a full suite of financial planning and wealth management solutions. Our clients are individuals, private business owners, entrepreneurs, and fast-growing companies seeking to create and preserve their wealth through personalized attention and tailored financial solutions.
First American Bank is a Member FDIC.