Our December Board meeting will be held December 7, 2024 instead of December 25, 2024. 

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Health Savings Accounts

 

"Health Savings Accounts (HSAs) were created in 2003 so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses.  Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA."

From The U.S. DEPARTMENT OF THE TREASURY


 

Health Savings Account
Effective Date: December 08, 2014
DescriptionDividend RateAPY
Health Savings Account 0.15% 0.15%

 

 

HSA Contribution
Effective Date: 2024
*Catch Up Limit is for those individuals over age 55
DescriptionSingleFamily
Contribution $4,150 $8,300
*Catch Up $5,150 $9,300

 

Taxes and penalties may be assessed by the IRS for withdrawal for non-medical purposes. Overdraft fees may be assessed when applicable.

Rates may change after account opening.