A Health Savings Account (HSA) is a tax-advantage account that helps you save for future medical expenses. Contributions grow tax-free in your account as long as you wish and can be used to pay for qualified medical expenses at any time.
MECE Credit Union Members Can Enjoy
- Tax-Free Contributions that Earn 2.00% APY*
- No Maintenance Fees
- Free HSA Debit Card & Checks
- HSA CD Investment Options
- Direct Deposit/Payroll Deduction Options
- Are covered by a High Deductible Health Plan (HDHP) ($1,350.00 Individual plan or $2,700.00 Family plan)
- Are not covered by any other health plans or enrolled in Medicare
- Have not received VA medical benefits in the last 3 months
- Are not claimed as a dependent on another individual’s federal income tax return
- Must keep all medical expense receipts in the case of an IRA audit
Contribution Limits for 2019 Tax Year
These amounts include any funds your employer may give you.
- Single Coverage HDHP: $3,500.00
- Family Coverage HDHP: $7,000.00
- Over age 55 may make “catch-up” contributions of an additional $1,000.00
HSA Tax Forms
You will be provided with two forms for tax reporting purposes.
- 1098-SA: Delivered end of January or first week of February and shows total amount of distributions.
- 5498-SA: Delivered end of April or first week of May and shows total amount of contributions.
Ready to get started? Complete our HSA Application or call 573-634-2595 today!
*Annual Percentage Yield as of 09/24/2019. Rate is subject to change.