Health Savings Account
A Health Savings Account (HSA) is an account that you can put money into to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax advantages.*
Ease of Access
- Save automatically via payroll deduction
Withdraw via cashier/teller check or Visa Check Card to pay medical expenses.
Savings
- No HSA fees at XFCU
- Contributions earn dividends and are federally insured to $100,000
- Unspent balances remain in your account (no "use it or lose it" rules)
Tax Advantages*
- Contributions are tax deductible
- Dividends are tax-free
- Qualified medical expense withdrawals are tax-free
Health Savings Account Inquiry
Department of the Treasury Health Savings Brochure
HSA for America
* First consult your tax advisor for details.
