Health Savings Accounts

A Health Savings Account (HSA) is an alternative way to save for medical expenses and pay for health care costs. If your insurance policy is a High Deductible Health Plan (often referred to as an HDHP), you can save for qualified medical expenses – doctor visits, prescriptions, dental care and more – and do it tax-free.1

Key Features

  • No Monthly Fee
  • Tax-deductible contributions
  • Withdrawals for qualified medical expenses and dividends are both tax-free
  • No annual spending requirement
  • Debit card and checks for easy payment
  • Annual contribution limit for 2014: $3,300 for individual plans and $6,550 for family plans
Already a Member?  Apply Now
Not a Member?  Enroll

Certain conditions must be met before a Health Savings Account can be opened. Please visit the Internal Revenue Service’s website for more details.

What do you need to open a New HSA?

  • Current Health Plan details (Provider Name, Deductible Amount, Policy Effective Date)
  • Beneficiary Information (Name, Address, Social Security Number or Date of Birth)

What do you need to Rollover or Transfer an existing HSA?

  • Name of Originating Institution
  • Any related Account Numbers

If I’m Transferring an existing HSA, who should the Originating Institution make the Transfer Check out to?

  • SF Fire Credit Union FBO [Member Name]

1 Information on this page is not intended as tax advice. Please consult a tax professional for information specific to your situation. Contribution limits and high deductible health plan limits are revised each year to reflect cost-of-living increases.