Health Savings Account

Have a high-deductible health care plan? Make managing the expense easier with an HSA.

Health Savings Accounts (HSAs) provide eligible individuals with a tax-deductible means to save and pay for qualified out-of-pocket medical expenses. In particular, they are often used with High Deductible Health Plans (HDHP) that may not cover the first several thousand dollars of health care expenses.

Funds within the HSA grow tax-free until withdrawn and are not taxed as long as they are used for qualified health care expenses. Distributions that are not used for qualified expenses are subject to regular income tax and a 20% penalty.

If you have a high deductible health plan, consider opening an HSA to provide more flexibility and control over health care costs.

You Must Be Eligible to Open an HSA

If you have a high deductible health insurance plan, speak with your employer or insurance provider to see if your plan qualifies.

Learn More at
Download IRS Publication 969

Open an HSA
Or consult a tax professional for more information.

Current Offer
SVFCU is Making Camping Easy

SVFCU has extended the terms for RV Loans!

Learn More|Next Offer
Everyone is patient and available, prompt and helpful.
— Jennifer M., Kingston, NY
Read More Testimonials