You will receive tax advantages with a health savings account and a high-deductible health plan.
Protect yourself against the financial impact of catastrophic medical expenses and pay a lower premium with a qualified health savings account.
As a tax-advantaged medical savings account, an HSA provides you with a tax-free way to pay for qualified medical expenses. By combining your HSA with an HSA-qualified high-deductible health plan (HDHP), you can save for future medical expenses and receive favorable tax treatment.
Who is eligible?
To qualify you must meet all these requirements:
Advantages of HSAs
You may make contributions for the current year until April 15 of the following year. You may use tax-free withdrawals for qualified medical expenses including doctor visits, prescriptions and over-the-counter medicines.
Types of accounts
Shoreline Credit Union offers a checking account for your HSA deposits — both checks and a debit card are available. We pay interest monthly.
If you think a health savings account is right for you or if you would like to know more, please contact member services at 920-793-4541.