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" (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 HDHP.
Health Savings Account Limits
Maximum Contribution Limits
Single HDHP $3,350 $3,400
Family HDHP $6,750 $6,750
Limit#1 To qualify as a HDHP –
Minimum Annual Deductible
Single Coverage $1,300 $1,300
Family Coverage $2,600 $2,600
Limit #2 To Qualify as a HDHP –
Maximum Annual Out-Of-Pocket
Single Coverage $6,550 $6,550
Family Coverage $13,100 $13,100
Individuals age 55 and older can also
make additional “catch-up” contributions of:
CCU has Health Savings Accounts available with debit card access. Contact us for more information or to open your account.
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