Health Savings Account (HSA)
Individuals and families with high health insurance deductibles can save money on current and future health care expenses with a USU Credit Union Health Savings Account (HSA).
Health Savings Account benefits include:
- Tax-Deductible – Contributions to the HSA are tax deductible, similar to an IRA.
- Tax-Free – Withdrawals to pay qualified medical expenses are never taxed.
- Tax-Deferred – Interest-earnings accumulate tax deferred, and if used to pay qualified medical expenses, are tax-free.
- HSA Money Is Yours To Keep – Unused money in your HSA can rollover from year to year.
Members have several options to fund their USU Credit Union HSA, including:
- Payroll direct deposit
- In-person deposits
For added convenience, you may access your HSA funds by the following means:
- Personal USU Credit Union HSA Visa Debit Card
- Personal USU Credit Union HSA Checks
To open a USU Credit Union HSA, visit any USU Credit Union branch or contact the member contact center at 800-248-6361.
|Contribution Limit||Catch-Up Contribution Limit*|
*A "catch-up" contribution is in addition to the standard contribution limit and is available for eligible individuals who are age 55 or older by the end of their taxable year and are not enrolled in Medicare.