Health Savings Accounts

We now offer Health Savings Accounts - designed to give you more flexibility and control over your health care costs.  Empower yourself to make your own health care decisions.   

Use pre-tax dollars to pay for future medical expenses:
You will be able to deduct your contributions to your HSA, and the account earnings will accumulate on a tax-deferred basis.  Best of all, distributions from your HSA are tax-free if they are used for qualified medical expenses.

Opening your HSA:
To open an HSA, you must select a high-deductible health plan.  The major advantage of a high-deductible plan is lower premiums.  Contributions and plan deductible limits change frequently so consult your tax professional regarding your individual circumstances.

Account balance is carried over:
Unlike contributions to a flexible spending account, the balance of your HSA at the end of the year is carried over to the next year.  So you're not placed in a position of having to "use it or lose it" each year.

Protection from catastrophic medical costs:
The high-deductible health plan provides you with protection from catastrophic medical costs, and the HSA provides you with a source of funds to pay some or all of the costs not covered by the health plan.

Control and flexibility:
An HSA enables you to take control of your health care decisions.  And since you are the owner of your HSA, it doesn't matter what your job status is or whether your employer makes contributions to your plan.  Your HSA will always follow you.  

Using your HSA Account:
Withdraw from your HSA at any of our teller windows or use your special HSA Fremont Federal Credit Union Visa Check Card for purchases.  Remember to keep your receipts for tax reporting.

Call or stop into your favorite branch office to open your HSA account today.