Health Savings Accounts - HSAs - Members Heritage CU

Q: What type of health insurance plan do I need to qualify for an HSA?

You will need to have a High-Deductible Health Plan that is HSA-compatible.

Q: What are the fees associated with the HSA (monthly maintenance fees, investment fees, etc.)?

There is a $3.00 monthly fee to maintain your HSA.

Q: Can I contribute to an HSA if I’m enrolled in Medicare?

No, you cannot contribute to an HSA if you are enrolled in Medicare.

Q: What expenses are considered qualified for HSA withdrawals?

Qualified medical expenses generally include most medical, dental, and vision healthcare expenses not covered by insurance that are incurred by you, your spouse, or your dependents after your HSA is opened. IRS Publication 502, Medical and Dental Expenses , contains a partial list of qualified medical expenses.

Q: What happens to my HSA if I change jobs or health insurance plans?

Your HSA account will remain with you. However, you will still need to qualify for an HSA in your new job or under your new health insurance in order to make additional contributions.

Tax-Free Funds for Health, Dental, and Vision Care

If you’re enrolled in a High Deductible Health Plan (HDHP), you can set aside tax-free funds in a Health Savings Account (HSA) to pay for qualified medical expenses for you or your family, including dental and vision care.

You can also deduct contributions made to your HSA on your federal income tax return. Your funds carry over from year to year, and your HSA remains with you if you change health plans or employers.

HSA contributions are deductible, just like an IRA.

HSA withdrawals are not taxed when used to pay for qualified medical expenses.

Interest earnings are tax-deferred and tax-free when used to pay for qualified medical expenses.

HSA Contribution Limits

2025: $4,300 self-only | $8,550 family

2026: $4,400 self-only | $8,750 family

Catch-up contribution: Individuals 55+ (not enrolled in Medicare) can contribute an additional $1,000 per year

Reach out to us today to set up your credit union HSA account. Our team is ready to answer questions you may have about how an HSA can help you pay for medical expenses.

Current member? Call us to open your account!

New member? Please visit your nearest branch to open.

Contribution and Out-of-Pocket Limits for HSAs and HDHPs