Health Savings Accounts - HSAs

Parsons Federal Credit Union is pleased to offer our members Health Savings Accounts, HSAs.

HSAs are a savings plans that offer individuals who have High Deductible Health Plans a different way to pay for your health care.

To qualify for an HSA, you must be enrolled in a High Deductible Health Plan, (HDHP). An HDHP, sometimes referred to as "catastrophic" health insurance, generally does not pay for the first several thousand dollars of health care expenses (i.e. your "deductible") but will cover your expenses after the deductible has been met. The money deposited into an HSA would help pay for the expenses your HDHP does not cover.

• Helps you save for present and future medical expenses
• Allows your savings to grow tax-deferred*
• Provides additional tax advantages*
• Allows you to control how and when your savings are spent**
• Has no "use it or lose it" restrictions
• Help to pay certain health insurance after age 65

For additional details and to open your HSA today contact us at 800-765-4527.

*Always consult your tax advisor.
**Non-qualified medical expense distributions may result in additional taxes and penalties.