Health Savings Account (HSA)
Health Savings Accounts (HSAs) combine the protection of health insurance with a tax-advantage checking account. Together with a high-deductible health plan, HSAs can help you take control over the rising costs of healthcare. HSAs let you pay your medical expenses on an income tax-free basis. Your tax professional can give you details on how HSAs apply to your situation.
- Account currently earns 0.50% annual percentage yield
- For convenience in accessing your HSA balance, CCU offers a FREE HSA debit card and special HSA checks.
CCU HSA cards can also be used in the Apple Pay, Google Pay and Samsung Pay wallets. Contact us for more information about mobile wallets. - Receive your first 50 checks FREE
- No monthly or annual fees
- Low minimum balance of just $25 to earn dividends
- Funds in your HSA account can be used to pay qualified medical expenses at any time whether it's in two months, two years or longer. There is no "use-it-or-lose-it" penalty like many health insurance plans have.
NOTE: The HSA account owner is responsible for knowing their eligibility for opening and maintaining the account, knowing their allowed contribution limit and contribution deadlines, and for keeping receipts and records to support allowable withdrawals. Cloverbelt Credit Union is not responsible for any aspect of monitoring the account for allowable usage including determining eligibility for opening or maintaining the account, monitoring contribution limits and deadlines, or verifying withdrawals are for acceptable purchases or uses. The credit union will file annual IRS reports for each account detailing the dollar amount of contributions and distributions made during the tax year, as required by federal law.