If you are on a High Deductible Health Plan, you may want to consider opening a Health Savings Account (HSA) at MCCU!
A HSA offers a way to set aside funds to pay for your (and your family’s) medical expenses. HSAs provide you with tax savings1, and annual contributions (much like an IRA) may reduce your taxable income. Plus, your qualified distributions for medical expenses are never taxed. The money you set aside in your HSA grows tax-deferred until age 65, when funds can be withdrawn for any non-medical purpose (taxes may apply) or tax-free when used for medical expenses.
MCCU’s Health Savings Account features:
- $100 minimum balance to open and earn interest
- Low $3 monthly fee
- No set-up or annual fees
- Unlimited check writing
- Free Debit Card
- Free Online & Mobile Banking
- Monthly statement/eStatements
Click here for more information on MCCU’s Health Savings Accounts!
¹ Check with your tax advisor.
« Return to "Matadors Money Matters Blog"
Comments
Post Comment