Health Savings Accounts

Saving and paying for certain medical expenses is easy with a Health Savings Account (HSA) from the Credit Union. The money you put into an HSA can be used for copays, deductibles, prescriptions and many other healthcare related expenses.

Benefits of an HSA

  • Tax Savings. Annual contributions are tax-deductible* from federal and even several qualifying states taxes. Plus, qualified withdrawals are free from federal income tax.
  • Ownership. Funds remain in the account from year to year, just like an IRA.
  • Earned Interest. Dividends earned are tax-free.
  • Portability. You, not your employer, own the account, so you can always keep your HSA.
  • Flexibility. You can use the funds in your HSA to pay for medical expenses, including those not covered by your insurance, or you can save the funds in your account for future medical costs.


To contribute to a Health Savings Account you: must be covered under a High Deductible Health Plan (HDHP), may not be covered by any other health plan that is not a HDHP, may not be enrolled in Medicare, may not be a recent recipient of VA medical benefits and cannot be claimed as a dependent on another person's tax return.

Availability of Funds

Withdrawals are tax-free if the funds are used exclusively for paying or reimbursing qualified medical expenses, such as doctor visits, prescription drugs and over-the-counter medicines for the owner, his or her spouse and dependents. Qualified expenses are those incurred after the account is opened.

Still have questions about HSAs? Find answers in our frequently asked questions.

Click here for complete details on HSA accounts, eligibility, contributions and withdrawals, or visit your local branch or call our Member Contact Center at 877-325-2848.

Open an HSA or manage your current account today.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency.