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Health Savings Account

A Health Savings Account That Pays

A Health Savings Account (HSA) may be a great option if you have a qualifying high-deductible health plan (HDHP). This unique savings plan has tax advantages to help fund out-of-pocket medical expenses, like doctor visits, vision and dental care, and prescriptions. The money is yours for as long as you need it, year-after-year, throughout different health plans or employers.

Benefits with a Heritage HSA:

  • Earn 1.00% APY with our Health Savings Account1
  • No Fees | No Minimum Balance
  • Pretax Contributions – Contributions to your HSA can be made with pretax dollars which means every dollar you contribute is a dollar saved (your employer may offer a payroll deduction option to help you make contributions on a pretax basis).2
  • Tax-free Gains – Any gains on the money in your HSA are tax-free so you keep 100% of any money that your HSA savings or investments earn, boosting the amount of money you have to cover your out-of-pocket medical costs.
  • Tax-free Withdrawals – You won’t pay taxes on money you withdraw for qualified medical expenses.

Rollover Eligible

  • You do not have to be an eligible individual to make a rollover contribution from your existing HSA to a new HSA.
  • Rollovers are not subject to the annual contribution limits.
  • You do not need to wait for your insurance renewal period to rollover your HSA from another financial institution to Heritage.
  • A rollover contribution is not included in your income, is not deductible, and does not reduce your contribution limit.
  • Contributions are Tax/Pretax Deductible

Interested in a Health Savings Account? Just complete the form and a Heritage Investments Pro will contact you to talk about qualification!

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1APY = Annual Percentage Yield. Annual Percentage Yields are accurate as of 10/19/2022 and are subject to change. Fees or other conditions could reduce the earnings on these accounts. Rates may change after accounts are opened.

2Heritage Federal Credit Union does not provide tax advice and recommends speaking to a tax consultant for guidance.

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