Tax-Advantaged Savings for Retirement and Health Care
FSB offers Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs) for different long-term goals. IRAs can help you set money aside for retirement, while an HSA can help eligible individuals save for qualified medical expenses.1
Retirement
Choose from Traditional, Roth, SIMPLE and SEP IRA options.
Health Care
Use an HSA to set aside money for qualified medical expenses.1
Current Rates
Review FSB's current IRA and HSA rates before you open an account.
Local Help
Work with an FSB banker to choose and open the account that fits your goal.
IRA Accounts in Iowa
FSB offers four IRA options for individuals, business owners and employers. The right IRA depends on how you want to save, how contributions are treated for tax purposes and whether the account is for you or your employees.1
2026 Individual IRA Contribution Limit
$7,500
Combined Traditional and Roth IRA limit
$8,600
If you are age 50 or older
Your contribution limit can also depend on taxable compensation, income and other IRS eligibility rules.1
IRA Options for Individuals
Traditional IRA
Save for retirement with tax-deferred growth and the potential to deduct eligible contributions.1
IRA Options for Business Owners and Employers
SIMPLE IRA
A retirement plan designed to give smaller businesses a straightforward way to help employees save.
- Designed for eligible businesses with 100 or fewer employees.
- Employers can match employee contributions.
- Employers can also make contributions on employees' behalf.
- Typically involves lower costs and less paperwork than a traditional 401(k).
SEP IRA
A retirement option for self-employed individuals and eligible small business owners.
- Simple to establish and maintain.
- Contributions can grow tax-deferred until funds are withdrawn.1
- Employers have flexibility because contributions are not required every year.
Traditional IRA vs. Roth IRA
Both accounts can help you save for retirement, but their tax treatment and withdrawal rules differ.1
| Feature | Traditional IRA | Roth IRA |
|---|---|---|
| Primary goal | Retirement savings | Retirement savings |
| Contribution treatment | Contributions may be deductible depending on eligibility.1 | Contributions are not deductible.1 |
| Withdrawal treatment | Withdrawals are generally taxable.1 | Qualified withdrawals may be tax-free.1 |
| Required minimum distributions | RMD rules generally apply beginning at the applicable required age.1 | No RMDs for the original owner during their lifetime.1 |
| 2026 individual contribution limit | $7,500 combined across Traditional and Roth IRAs, or $8,600 if age 50 or older.1 | $7,500 combined across Traditional and Roth IRAs, or $8,600 if age 50 or older.1 |
Current IRA and HSA Rates
Rates can change, so use FSB's current rate sheet when comparing account options.
IRA Rates
FSB lists current CD and IRA terms, Annual Percentage Yields (APYs) and interest rates together on the rate sheet.
View Current IRA RatesHSA Rates
FSB Health Savings Account rates are tiered by account balance. Check the rate sheet for current APYs and interest rates.
View Current HSA RatesHealth Savings Accounts in Iowa
An FSB Health Savings Account is an interest-bearing account that can help eligible individuals save for qualified medical expenses while keeping unused funds available for future years.1
HSA Benefits
- Tax-advantaged contributions. Eligible contributions may be tax-deductible.1
- Qualified medical expenses. Eligible withdrawals for qualified medical expenses may be tax-free.1
- Year-to-year rollover. Unused HSA funds stay in your account instead of expiring at year-end.
- Portability. Your HSA stays with you if you change jobs or retire.
- Interest earning. Your HSA balance can earn interest based on FSB's current HSA rate tiers.
HSA eligibility: You generally need qualifying high-deductible health plan coverage and must meet other IRS requirements to contribute to an HSA.1
2026 HSA Contribution Limits
$4,400
Self-only coverage
$8,750
Family coverage
Eligible individuals age 55 or older can contribute an additional $1,000 in 2026.1
IRA vs. HSA: What's the Difference?
IRAs and HSAs can both offer tax advantages, but they are designed for different purposes and follow different eligibility rules.1
| Feature | IRA | HSA |
|---|---|---|
| Primary purpose | Saving for retirement | Saving for qualified medical expenses |
| General eligibility | Traditional and Roth IRA contributions generally require taxable compensation, with additional rules depending on account type.1 | You generally need HSA-eligible high-deductible health plan coverage and must meet other IRS requirements.1 |
| 2026 contribution limit | $7,500 combined across Traditional and Roth IRAs, or $8,600 if age 50 or older.1 | $4,400 self-only or $8,750 family coverage, plus an additional $1,000 if eligible and age 55 or older.1 |
| Unused funds | Remain in the account for retirement subject to applicable distribution rules. | Roll over automatically from year to year. |
| Tax treatment | Depends on whether you choose a Traditional or Roth IRA and your individual tax situation.1 | Eligible contributions and qualified medical withdrawals may receive tax advantages.1 |
How to Open an IRA or HSA with FSB
Start online, then work with a local FSB banker to review the account and complete the opening process.
1
Complete the short online request form and select the account you are interested in.
2
An FSB banker will contact you to review the account details and answer questions.
3
Confirm your account information, eligibility and funding details to complete the process.1
IRA and HSA Banking with a Local Iowa Team
FSB has served Eastern Iowa since 1927. Whether you are planning for retirement, evaluating an IRA for your business or opening an HSA for future medical expenses, you can work with bankers serving Marion, Cedar Rapids, Hiawatha, Alburnett, Tiffin and surrounding communities.
Find an FSB LocationIRA and HSA FAQs
Answers to common questions about retirement accounts, Health Savings Accounts and current FSB rates.
What is the difference between a Traditional IRA and a Roth IRA?
A Traditional IRA may allow deductible contributions depending on your tax situation, and withdrawals are generally taxable. Roth IRA contributions are not deductible, but qualified withdrawals may be tax-free. Roth IRA owners are not required to take minimum distributions during their lifetime.1
How much can I contribute to an IRA in 2026?
For 2026, the combined annual contribution limit for Traditional and Roth IRAs is $7,500, or $8,600 if you are age 50 or older. Your individual limit can also depend on taxable compensation, income and other eligibility rules.1
Can I contribute to an IRA at any age?
There is no maximum age for making regular contributions to a Traditional or Roth IRA, but you generally need taxable compensation and must meet the applicable eligibility requirements.1
What is a Health Savings Account?
A Health Savings Account, or HSA, is a tax-advantaged account that eligible individuals can use to save for qualified medical expenses. Unused funds remain in the account and roll over from year to year.1
Who is eligible to contribute to an HSA?
HSA eligibility depends on IRS requirements. In general, you must have qualifying high-deductible health plan coverage and cannot have certain disqualifying coverage. Medicare enrollment and dependent status can also affect eligibility.1
How much can I contribute to an HSA in 2026?
For 2026, the HSA contribution limit is $4,400 for self-only coverage and $8,750 for family coverage. Eligible individuals age 55 or older can contribute an additional $1,000.1
Do HSA funds roll over each year?
Yes. Money left in an HSA rolls over from year to year, and the account remains yours if you change jobs or retire.
Where can I find current FSB IRA and HSA rates?
FSB publishes current CD and IRA rates and current Health Savings Account rates on its rate sheet. Rates are subject to change, so review the current rate sheet before opening an account.
Looking for a fixed-term savings option instead? Compare current CD rates in Iowa.
Ready to Open an IRA or HSA?
Tell us which account you are interested in, and an FSB banker will follow up to help you complete the process.
Get Started with FSB