Health Savings Account (HSA)

  • What is a Health Savings Account?

    • An HSA works in conjunction with a high deductible health plan (HDHP)
    • HSA dollars can be used to help pay the health insurance deductible and qualified medical expenses, including those not covered by the health insurance, like dental and vision care
    • Once you meet the plan-year deductible, health insurance pays the remaining covered expenses per the terms of coverage

    Benefits of an HSA

    • Dollars can be used to meet your deductible
    • Tax deductible off of gross income on federal income taxes
    • Interest earnings grow tax-deferred
    • NEVER taxed when used for qualified medical expenses
    • Rolls over year after year – no “use it or lose it”
    • Portable – it is your money – it goes with you wherever you go

Educators Credit Union - HSA Vendor

Employee Funding Options

    • Direct deposits may be made into your HSA through Educators Credit Union