Health Savings Account (HSA)

Health Savings Accounts (HSAs) are savings plans where eligible individuals can receive tax advantages for medical expenses. If you have a High Deductible Health Plan (HDHP), you may be eligible for an HSA.

HSA Benefits

• HSA contributions are tax deductible^ – whether made by you, your employer, or others on your behalf.
• Earnings on your HSA are tax-deferred and HSA assets used for qualified medical expenses are never taxed.
• The funds in your HSA roll over from year to year – no need to worry about using the funds by year-end.

LAFCU makes it easy and convenient
When you open an HSA at LAFCU, you have options. That means greater flexibility, easier access, and maximum convenience.

• HSA Checking Account - No minimum balance and easy access by check or debit card.
• HSA Savings Account - Easy access to your account through debit or checking account. A $5.00 minimum balance is required.
• HSA Money Market Account - No minimum balance requirement.
• HSA Certificate - Choose from a variety of terms for maximum flexibility.

Not sure if an HSA is right for you? We'll walk you through the details, including eligibility and contribution guidelines.

Call us at 517-622-6600 or speak with a LAFCU representative through our online chat.

^Consult with a tax advisor for further information regarding tax deductions for HSA contributions.