Important Note: Due to the IRS extending the 2019 deadline for filing taxes to July 15, 2020, you also have the option for making contributions to your HSA and IRA through July 15 for the 2019 tax year. This means you have an extra 2 months to add to your retirement and healthcare savings - take advantage!
Pay for medical expenses with pre-tax dollars.
Use your Health Savings Account for doctor visits, prescriptions, dental check-ups and more.
You work hard to earn your money. Make your money work harder for you. An HSA helps you save money now - and in the future. Let's break it down:
Here's how an HSA works
- Sign up for a high-deductible health plan through your employer.
- You contribute to your HSA with pre-tax dollars. You'll decide how much through your employer, but just know the government sets up guidelines for maximum contributions. You can view limits here.
- Use those funds to pay for nearly any medical related expense. It's as easy as swiping your HSA card!
- You can use your HSA as a savings vehicle for years to come, including supplementing your retirement. That's especially helpful when health care costs typically rise. Feel better knowing you'll have a head start to pay for those medical expenses.
Managing your HSA
Once you sign up
and your account is approved, you'll get a shiny blue card in the mail.
After you put money in your account, use those funds for eligible HSA expenses. Doctor's visits, vision and dental expenses, and more. See the complete list of HSA approved expenses here.
You can increase or decrease your contribution through your employer. If you want to give your HSA a boost, simply transfer money into the account online or through the mobile app
Employers: To enroll an employee group, contact us at 402.697.8200 or firstname.lastname@example.org
*APY = Annual Percentage Yield. APY is accurate as of 02/26/20. Rates are variable and may change after the account is opened. Fees may reduce earnings. Minimum deposit to open a share account is $5.00. Health Savings Accounts have an annual fee of $25.00, charged on July 31 of each calendar year. Your employer may opt to pay the annual account fee. The following open accounts with the credit union will waive the HSA $25.00 annual fee: Kasasa Checking account, a first mortgage loan or a new or used auto loan with a balance of $10,000.00 or more when annual fee is charged.
Please consult your employer and/or tax professional for complete details on pretax contributions, tax-free gains and tax-free withdrawals. Your Mutual 1st Federal membership is established by a primary share savings account with a $5.00 minimum balance and a Health Savings Account may be opened thereafter. Rates may change after the account is opened.