Health Savings Accounts
Save smart. Spend wisely. Stay healthy.
Why Open an HSA?
Tax-Deductible Contributions1
Tax-Free Withdrawals2
$3 Monthly Service Charge
Competitive Rates
HSA Is Yours for Life
Tax-Deductible Contributions1
Tax-Free Withdrawals2
$3 Monthly Service Charge
Competitive Rates
HSA Is Yours for Life
What is an HSA?
Your Health Savings Advantage
A Health Savings Account (HSA) is more than just a place to save for medical expenses. It’s a smart financial tool designed to give you more control over your healthcare dollars. As long as you have a qualifying high-deductible health plan (HDHP), you can save money tax-free to cover qualified medical expenses for yourself and your family.
HSA Benefit Details
Spend Smarter on Healthcare
The benefits of an HSA reach well beyond the doctor’s office. It can be a vital part of your long-term savings strategy.
- Contributions are tax-deductible, and your eligible withdrawals and interest growth are tax-free.
- The HSA debit card allows you to pay directly for qualified medical visits, prescriptions, dental, vision, and more.
- Unused funds roll over year after year, with no "use it or lose it" deadlines.
- Your HSA is yours to keep, no matter where life or work takes you.
- Earn dividends above standard savings on entire balance.
Open an HSA
How to Get Started
Ready to get started? Opening a health savings account has never been easier.
- Apply for a TVFCU membership online in just a few easy steps.
- Open an HSA using LIVE Stream Video to chat with us directly!
Savings Accounts Rates
| Accounts | Dividend Rate | Annual Percentage Yield (APY) |
|---|---|---|
| Share Accounts | 0.30% | 0.30% |
| Club Accounts | 0.30% | 0.30% |
| Christmas Club Accounts | 0.30% | 0.30% |
| Health Savings Accounts | 0.45% | 0.45% |
| Youth Savings Accounts | 0.30% | 0.30% |
| Dividend Rate | 0.30% |
|---|---|
| Annual Percentage Yield (APY) | 0.30% |
| Dividend Rate | 0.30% |
|---|---|
| Annual Percentage Yield (APY) | 0.30% |
| Dividend Rate | 0.30% |
|---|---|
| Annual Percentage Yield (APY) | 0.30% |
| Dividend Rate | 0.45% |
|---|---|
| Annual Percentage Yield (APY) | 0.45% |
| Dividend Rate | 0.30% |
|---|---|
| Annual Percentage Yield (APY) | 0.30% |
Frequently Asked Questions
Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.
Contributions are tax-free and can be made by you, your employer, or a third party.
Qualified expenses include (but aren’t limited to):
- Doctor visits, co-pays, and hospital stays
- Dental, vision, mental health, and other specialty care
- Prescriptions and over-the-counter medications
- Physical therapy, lab fees, and X-rays
- Medical equipment and supplies
Unused funds remain in account year after year; there is no “use it or lose it” policy.
An HSA provides triple tax savings:
- Tax deductions when you contribute to your account
- Tax-free earnings through investment
- Tax-free withdrawals for qualified medical, dental, and vision expenses, and more
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Learn More1. Most adults under 65 who are not enrolled in Medicare and are covered under a high-deductible health plan (HDHP) can qualify for an HSA, but it is up to the account holders to determine their own eligibility. Please contact your tax advisor for further eligibility requirements.
2. You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty.
