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Health Savings Accounts

Health Savings Accounts (HSAs)

This custodial account allows you to save and pay for a number of healthcare expenses on a tax-advantaged basis.  Maximize your company's High Deductible Health Plan by coupling it with SEFCU Health Savings Accounts!

As an employer you know the health plans are one of the most important benefits you can offer your employees. A Health Savings Account (HSA) is a custodial account that your employees can use to save and pay for a wide range of healthcare expenses on a tax-advantaged basis. If you offer a High Deductible Health Plan your employees can open an HSA at SEFCU and enjoy a lower monthly premium.

Benefits for employer:

  • No fees
  • HSAs may cost you less than traditional health plans
  • Your contributions are tax deductible
  • Accounts can be funded via ACH, wire, check, or account transfer
  • Confidence knowing you are assisting your employees with healthcare needs

Benefits for employee:

  • Pre-tax contributions and tax-free distributions for qualified medical expenses
  • Lower health insurance premiums 
  • Employees can decide when to use pre-tax funds 
  • Accounts are portable from job to job
  • No "use it" or "lose it" restriction 
  • Use your HSA card or checks to pay for qualified expenses 

Learn More about HSA Accounts Now!