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Co-op Credit Union

Health Savings Accounts

doctor taking blood pressure of patientPut Your Health First.

Our Health Savings Accounts are here to assist you with planned and unplanned medical expenses. We have a variety of options as you look to put money away and put your health first.

Health Savings Account

A Health Savings Account, or HSA, is a tax-exempt custodial account established to pay qualified medical expenses in conjunction with a "High Deductible Health Plan," or HDHP.

A High Deductible Health Plan is an alternative to traditional PPO and HMO plans. In exchange for a lower monthly premium, you accept responsibility for a higher amount of out-of-pocket expenses. Federal law sets the minimum requirement for what constitutes a High Deductible Health Plan. Please see the table at the bottom of the page for details.*

Health Savings Debit Card Account

A Health Savings Debit Card Account provides convenient access for payment of medical expenses. Like the Health Savings Account, withdrawals are restricted to qualified medical expenses.

Both the Health Savings Account and Health Savings Debit Card Account have two tiers: You will earn a higher rate for balances over $10,000.

Health Savings Certificate

We offer 12-, 36- and 60-month Health Savings Certificates, which are just more vehicles for saving for your health care costs. 

*Minimum Requirements for High Deductible Health Plans:

Health Savings Account Limits

 Maximum Contribution Limits 2023 2024
Single HDHP $3,850 $4,150
Family HDHP $7,750 $8,300
Limit #1 to Qualify as a HDHP – Minimum Annual Deductible

Single Coverage $1,500 $1,600
Family Coverage $3,000 $3,200
Limit #2 To Qualify as a HDHP –Maximum Annual Out-Of-Pocket

Single Coverage
$7,500 $8,050
Family Coverage
$15,000 $16,100
Individuals age 55 and Older Can Also Make Additional “Catch-Up” Contributions of $1,000 $1,000
See our Fees & Disclosures page for additional account information and terms.