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Improving Your Financial Life

Blog > 2010 > April > Thinking About a Bank Health Savings Acc...
April 21, 2010

Thinking About a Bank Health Savings Account?

by admin

A bank health savings account helps individuals and families get tax savings, earn interest, reduce insurance premiums and encourage long term savings.

HSA banks have the option of opening an account quite easily. An individual can either apply for the account online or visit the nearest bank that offers the account.

HSA information like eligibility forms and the income limits can all be accessed online. In order to qualify for a HSA, you must also be covered by a high deductible health plan. Individuals who are 18 years and above can opt for the health plan and there are no income limits to subscribe to it.

The contribution that an individual makes each year varies and for the year 2010 it is $3,050 for an eligible individual and $6,050 for family coverage. Contributions can also be made by your employer.

Category: FCFCU
Your savings federaly insured to at least $250,000 and backed by the full faith and credit of the United States Government: NCUA, Equal Housing Lender, ESI