Health Savings (Checking) Account: Health Savings Accounts are designed to cover out of pocket medical costs associated with HDHP (high deductible healthcare plans). You must have a HDHP to open an HSA account. Contributions are tax deductible, also earnings and distributions are tax free if used for qualified medical expenses (see IRS rules for qualified expenses). Filer Credit Union provides a debit card to access your HSA funds and only one debit card is issued per HSA account. We do not charge any fees to open or have an HSA account with us.
Eligibility: You must be 18 years or older. You must be a participant in an HDHP. You cannot be enrolled in Medicare or Medicaid. You cannot be claimed as a dependent on another person’s tax return.