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
- 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
Please contact our representatives for assistance by calling (888) 499-FIRE (3473) or by clicking here to start Web Chat.
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.