Health Savings Account

This account helps you cover the cost of medical care when combined with a High Deductible Health Plan.

If you participate in a High Deductible Health Plan, you qualify to open a Health Savings Account (HSA), which allows you to save for your health care deductibles or future medical expenses.

CUB’s HSA features:

•          Earns Interest
•          Individually owned & controlled
•          Usage of over 50,000 CUB & Allpoint Network ATMs worldwide1
•          Allpoint ATM Network Mobile App – for easy locating
•          Online Banking with Bill Pay2 - Bank anytime from your computer or phone
•          Mobile Banking2 – 24/7 banking for busy lifestyles
•          eStatements – The fast and safe way to get your bank statements3
•          HSA Debit Card4
•          CUB Phone – Bank by Phone 24 hours a day

Health Savings Account FAQs -Click Here 

2014 HSA Contribution Limits, Deductibles, and Out-of-Pocket Expenses

2014 offers individuals and families additional opportunities to save for current and future health care with a Health Savings Account (HSA):

  • HSA holders can choose to save up to $3,300 for an individual and $6,550 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,300 for an individual and $7,550 for a family) - and these contributions are 100% tax deductible from gross income.
  • Minimum annual deductibles are $1,250 for self-only coverage or $2,500 for family coverage.
  • Annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) cannot exceed $6,350 for self-only coverage and $12,700 for family coverage.

2014_HSA_table-resized

 

2015 HSA Contribution Limits, Deductibles, and Out-of-Pocket Expenses

2015 offers individuals and families additional opportunities to save for current and future health care with a Health Savings Account (HSA):

  • HSA holders can choose to save up to $3,350 for an individual and $6,650 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,350 for an individual and $7,650 for a family) - and these contributions are 100% tax deductible from gross income.
  • Minimum annual deductibles are $1,300 for self-only coverage or $2,600 for family coverage.
  • Annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) cannot exceed $6,450 for self-only coverage and $12,900 for family coverage.

2015_HSA_table-resized

 

For more detailed information on HSA plans and taxes, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.

View Our Current Rates

 

1If an ATM outside the 50,000+ network is used, there is a $2.00 per withdrawal fee, in addition to any fees charged by the ATM itself.
2Internet provider and mobile carrier fees may apply.
3Mailed paper statements available for only $2.50 per month – waived if average monthly balance is greater than $1,000 or upon request for account owners over 62 years of age.
4CUB Debit Card included with account.
$1.00 daily minimum balance required to obtain Annual Percentage Yield. If daily balance falls below $1,000 any day of the month there is a $3.00 monthly fee. Ask us for details. Account disclosures that include current rates, terms, and fees (if any) are available at any Citizens Union Bank location.