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Saving money with a Health Savings Account (HSA) is easy and offers peace of mind knowing you're prepared for unexpected medical expenses.
Your contributions are pre-tax, like a 401(k)¹
Investment gains inside the HSA are not taxable
Withdrawals are not taxed, if used to pay for qualified medical expenses
Access money through a special HSA Visa® Debit Card or checks
Any unused funds always stay in your account
You're eligible to open a Monterra Credit Union HSA if:
*APY = Annual Percentage Yield. Rates are effective 02/01/2023 and are subject to change at any time. Conditions and restrictions apply.
Monterra Credit Union’s custodial charge for a Health Savings Account (HSA) is $15 annually and there is a $100 minimum balance to open the account and to earn interest. Health Savings Account owners are responsible for determining their eligibility, contribution limits, and whether distributions are made for qualified medical expenses. Full account details are available at the U.S. Treasury Department website at treasury.gov.
1Consult your tax advisor regarding tax implications.
An HSA cannot be used to pay for some types of healthcare costs (see IRS Publication 969)