Health Savings Account - HSA
Save Smarter For Health Care Expenses
Healthcare costs can be unpredictable—but your financial plan doesn’t have to be. A Health Savings Account (HSA) helps you take control by offering a tax-advantaged way to save and pay for qualified medical expenses.
What is an HSA?
A Health Savings Account (HSA) is a special savings account available to individuals enrolled in a high-deductible health plan (HDHP). It allows you to set aside money for healthcare expenses—while enjoying significant tax benefits.
0.50%
As High As
$4,400/year
Max Individual Contribution
$8,750/year
Max Family Contribution
Benefits of an HSA
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Contributions may be tax-deductible
Earnings grow tax-free
Withdrawals for qualified medical expenses are tax-free
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Doctor visits
Prescriptions
Dental and vision care
Medical supplies
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Funds roll over year after year—no “use it or lose it”
Build savings for future healthcare needs
Use it as a long-term financial tool for retirement healthcare expenses
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Your HSA belongs to you—not your employer
Keep your account even if you change jobs or health plans
HSA FAQ’s
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Your balance rolls over and continues to grow.
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Yes, you can use funds for qualified medical expenses for eligible family members.
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Taxes and penalties may apply if you’re under age 65.
*The dividend rates and Annual Percentage Yields (APYs) shown are accurate as of the declaration date of May, 2026. Please contact the Credit Union at 740-522-8311 for current rate and account information. The Health Savings Account (HSA) is a variable rate account, and the dividend rates and APYs may change after the account is opened. Fees may reduce earnings. There is no minimum balance required to open an HSA. The minimum balance to open an HSA is in addition to the purchase of one $25.00 membership share in Hopewell Federal Credit Union that is required to be maintained in your Savings account. All members are required to open and maintain a Savings account in order to have any other HFCU product or service. The HSA is a tiered-rate account. For HSA accounts, dividends are paid at the stated dividend rates and APYs only on the portion of the balance within the specified balance tier. The first dividend rate and APY shown on the Current Dividend Rates sheet will be paid only on the portion of your average daily balance that was greater than $0.00 but less than $1,000.01. The second dividend rate and APY shown on the Current Dividend Rates sheet will be paid only on the portion of your average daily balance that was greater than $1,000.00. For additional account information, please see the HSA Truth-in-Savings disclosure. Contact your tax advisor for more details and to determine eligibility.
The minimum balance to open an account is in addition to the purchase of one $25.00 membership share in the Credit Union that is required to be maintained in your Savings account. All members are required to open and maintain a Savings account in order to have any other HFCU product or service. For additional account information, please see the Truth-in-Savings disclosure.
APY = Annual Percentage Yield
Other types of insurance like specific injury insurance or accident, disability, dental care, vision care, or long-term care insurance are-permitted. See https://www.irs.gov/pub/irs-pdf/p969.pdf or contact your tax advisor for more details.
To join HFCU, you must meet the membership requirements including purchase and maintenance of at least one (1) share (membership share) as set forth in the Hopewell Federal Credit Union’s Articles. You authorize us to check your account, credit, and employment history, and obtain reports from third parties, including credit reporting agencies, to verify your eligibility for the account and services you request. Accounts, services, and products offered to you may be based on information from a credit report.
Consult your tax advisor for details.