Manage your medical costs with the help
of a Health Savings Account.
Health Savings Account
A Health Savings Account (HSA) at CEFCU can help you manage your medical expenses. You can keep your HSA even if you change jobs, become unemployed, move, change medical coverage, or change marital status.
- Access funds with the new CEFCU HSA Debit MasterCard®.
- Make tax-deductible contributions.*
- Enjoy tax-free investment growth and withdrawals.
- Keep funds in the account from year to year — no "use it or lose it" rules.
- Open a CEFCU HSA with no set-up fees.
- Place your CEFCU HSA funds in a Savings, Checking, Certificate, My Use, or Insured Money Market Account (IMMA).
- Deposit money at any Member Center, by mail, electronically, or through online banking.
- Withdraw funds through electronic transfers, at any Member Center or ATM or by mail.
Health Savings Accounts were developed by Congress for consumers with high-deductible health plans. If you are not enrolled in Medicare, you can use tax-free savings to pay for current or future qualified medical costs.
*Consult your tax advisor for help determining your eligibility to open an HSA and your allowable contributions and withdrawals. As custodian/trustee of your HSA, CEFCU is not responsible for determining your allowable contribution amounts or whether distributions are used for qualified medical expenses. Your total contributions and withdrawals are reported annually to the IRS.