Health Savings Account
In response to the rising cost of health care, Community Choice Credit Union is now offering Health Savings Accounts to our members. An HSA is a government-sponsored investment option created to help individuals save for current or future health care expenses on a tax-free basis.
Advantages of an HSA
- Allows you to save for high or unexpected medical bills
- Lower insurance premiums by switching to a high-deductible health plan
- No use-it or lose-it provision so funds remain in the account from year to year
- Receive a tax deduction when you make a contribution to your account
- Earnings grow tax-free
- Tax-free withdrawals for qualified medical expenses
- Account is owned by you so funds remain even if you change employers
Community Choice Credit Union HSA offers:
- HSA Checking Account
- FREE initial pack of 100 checks
- FREE debit card
- $5 minimum deposit to open
- No monthly service charges
- No limit on the number of checks you can write
- Payroll deduction available
- Unused balances may be carried from year to year
- NCUA insured up to $250,000.00
