Health Savings Account (HSA)

A Triangle Credit Union Tax-exempt savings account for qualified medical expenses and medical bills

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Health Savings Account (HSA)

A Triangle Credit Union Health Savings Account (HSA) is great for saving money for medical expenses, medical bills and higher deductibles. If you are enrolled in your employer's high deductible health plan (HDHP), you are eligible for a Health Savings Account (HSA) through Triangle Credit Union.

  • Employee and employer contribution option to the medical savings account
  • Tax deduction for contributions made by you and your employer (some restrictions may apply; consult with your tax adviser)
  • Tax-exempt distributions (regardless of your age) as long as the funds are used to cover qualified medical expenses and medical bills
  • Any earnings in the HSA are tax-exempt
  • Balances roll over from year-to-year
  • If you are age 65 plus or disabled, you can withdraw funds penalty-free from your HSA for non-medical expenses

A Health Savings Account (HSA) with a debit card makes for convenient and easy payment of medical expenses. The HSA debit card is also enabled for mobile payments.

Read the latest guest blog from the Cooperative Credit Union Association on Six FAQs about EMV Chip Cards.

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