Use pre-tax1 dollars for qualified medical expenses. Unlike other plans, you own the account. This means your funds will roll over from year-to-year.


The Details
  • Dramatically improved personal control over healthcare management and expenses
  • Contributions are generally tax deductible and earnings grow tax free, as long as the money is used for health expenses
  • Eligibility: Member covered under a high deductible health plan
  • Earn dividends above standard savings on entire balance
  • Receive higher rates on larger deposits
  • An HSA provides triple tax savings:
    • Tax deductions when you contribute to your account1
    • Tax-free earnings through investment1
    • Tax-free withdrawals for qualified medical, dental, vision expenses, and more1
  • Contributions can be made by you, your employer, or a third party
  • Funds can be withdrawn at any time2
  • If the account is below $500 on December 31st, there will be a maintenance fee
  • Unused funds remain in account year after year; no "use it or lose it" policy
  • Keep your HSA in your name, regardless of career or life changes
  • Federally insured by NCUA
  • $100 minimum deposit to open or payroll direct deposit



In order to have an HSA, you must be covered under a HSA-compatible High-Deductible Health Plan (HDHP). Not all HDHPs are HSA-compatible, so check with your insurance provider to ensure it meets all requirements.

In addition to having an HDHP, you must also meet the following requirements.

  • You cannot be enrolled in Medicare.
  • You cannot be claimed as a dependent on anybody else's tax returns.
  • You may not be covered by another health plan (some limited exceptions do apply).

You and your spouse (if applicable) generally cannot have additional health coverage that is not an HDHP. An individual who is covered by a qualified HDHP may, however, qualify for an HSA even if his/her spouse is covered by a non-HDHP plan1. Accident, disability, dental, vision and long-term care insurances do not affect your ability to qualify for an HSA.

1Consult a tax advisor.

2You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty. Closure of the account does yield a $30 closure fee.