Skip to main content

Health Savings Account

In response to the rising cost of health care, Harvesters Federal Credit Union is now offering Health Savings Accounts to our members. An HSA is a government-sponsored investment option created to help individuals save for current or future health care expenses on a tax-free basis.

Advantages of an HSA:

  • Allows you to save for high or unexpected medical bills
  • Lower insurance premiums by switching to a high-deductible health plan
  • No use-it or lose-it provision so funds remain in the account from year to year
  • Receive a tax deduction when you make a contribution to your account
  • Earnings grow tax-free
  • Tax-free withdrawals for qualified medical expenses*
  • Account is owned by you so funds remain even if you change employers
* Individual circumstances may vary, consult your tax advisor.

Harvesters Federal Credit Union HSA offers:

  • $5 minimum deposit to open
  • No monthly service charges
  • No limit on the number of withdrawals you can make
  • Payroll deduction available
  • Unused balances may be carried from year to year
  • NCUA insured up to $250,000