Have more flexibility and Security with Health Care Costs

WFCU Health Savings Account 

A Health Savings Account (HSA) gives you more flexibility and control over your health care costs.  That’s because it empowers you to make your own health care decisions. Use Pre-Tax dollars to pay for future medical expenses. You will be able to deduct your contributions to your Health Savings Account, and the account earnings will accumulate on a tax-deferred basis.  Best of all, distributions from your HSA are tax-free if they are used for qualified medical expenses.

How to Save for Healthcare Costs

To open a Health Savings Account, you must select a high-deductible health plan. The major advantage of a high-deductible plan is lower premiums.

To contribute to your Health Savings Account you must enroll in a high-deductible health plan before you can make HSA contributions. Your employer’s contributions to your Health Savings Account are tax-free, and you can deduct your own contributions to your Health Savings Account on your income tax return.

The high-deductible health plan provides you with protection from catastrophic medical costs, and the Health Savings Account provides you with a source of funds to pay some or all of the costs not covered by the health plan.

Benefits of a Health Savings Account

A Health Savings Account enables you to take control of your health care decisions, and since you are the owner of your HSA, it doesn’t matter what your job status is or whether your employer makes contributions to your plan.  Your Health Savings Account will always follow you.

To open a Health Savings Account (HSA) contact us at

(860)547-0027 press 2 for personalized service.

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