Community Bank, N.A.

Health savings accounts become more available

Published in Law and Health Weekly, January 21st, 2006

Community Bank, N.A. and its Pennsylvania division, First Liberty Bank and Trust, now offer health savings accounts.

Health savings accounts, or HSAs, are bank accounts created by Congress as part of the Medicare Prescription Drug, Improvement and Modernization Act passed in January 2004 to help individuals pay for current and future medical expenses with pretax dollars, and possibly accumulate funds that may be used to pay for future medical expenses tax free. Industry and government consultants are touting HSAs as a way to make healthcare more affordable at the same time businesses and individuals are looking to reduce these rapidly rising expenses.

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Source: Law and Health Weekly (2006-01-21)

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