Health Savings Account

A Different Way to Pay for Your Healthcare

Gain flexibility and control over your health care costs.

Health Savings Accounts (HSAs) are a savings method available to qualified members to take control of their health care decisions. When combined with a high deductible health plan, an HSA is an alternative to traditional health insurance. An HSA is a tax-advantaged savings product that offers a different way for members to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis. 

You must be covered by a high deductible health plan (HDHP) to take advantage of HSAs. An HDHP generally costs less than traditional health care coverage and the money saved on insurance can be put into the HSA. As an HSA owner, you own and control the money in the HSA. Decisions on how you spend the money are made by you.


Visit a local branch to open a Health Savings Account today!

Visit A Local Branch


Features of HSAs:

  • $100 minimum deposit required to open.
  • Debit card and checks available. The check card and first 50 checks are free. The check card withdrawals are considered a distribution and are reported to the IRS.
  • There is no limit to the number of withdrawals or transfers per month. 
  • Dividend rate for the HSA is set by the Board of Directors.
  • Periodic payments can be made to the HSA account.


Additional Benefits:

  • Protection: Members have an opportunity to save money to pay high or unexpected medical bills.
  • Affordability: High health insurance policy deductibles mean lower premiums.
  • Savings: Members have the ability to deduct their contributions and the tax deferral of account earnings enables them to build their account.
  • Flexibility: Members can contribute at any time during the year, and the HSA balance rolls over from year to year.
  • Portability: The member owns the account, so it goes where they go, regardless of any job changes.


Please visit the IRS online for more information on Health Savings Accounts.

For more information regarding our Health Savings Account please contact our Member Services Department