Sb1 now offers Health Savings Accounts (HSAs), a new type of savings account created to help our members save towards healthcare costs associated with High Deductible Health Plans (HDHPs).
Since HSAs are tied to having an HDHP, members must be enrolled in that form of health care plan to qualify for an HSA with the Credit Union.
What is a Health Savings Account?
Health Savings Accounts are used by members enrolled in a High Deductible Health Plan to save money towards their future medical expenses.
Similar to IRAs, HSAs provide tax-advantages because funds can be deposited and earn tax-free until they are withdrawn, but they also have annual contribution limits and penalties for deductions made for non-medical reasons.
Why open a Health Savings Account with Sb1?
- No account opening fees
- No maintenance fees
- Earn a competitive savings rate, view current rates >>
- Convenient access with a set of checks
- Tax deductible contributions
- Tax deferred earnings
Learn more and apply today!
To learn more about High Deductible Health Plans, Health Savings Accounts and to apply for your Sb1 HSA today click here.
|
