Health Savings Accounts
Our HSAs are totally FEE FREE!
Designed for people with High Deductible Health Plans (HDHPs),
a Health Savings Account (HSA) earns competitive interest on
every dollar to help people save for medical and retiree health
expenses tax free. Contributions carry over annually and
distributions are tax free for qualified medical expenses.*
Plus, you can access your HSA with our MasterCard® HSA debit card.
- Individuals covered at least one month by an HDHP with a
minimum annual deductible of $1,300 or $2,600 for a family.
- Individuals cannot be covered by any other health care plan, enrolled
in Medicare under age 65, or claimed as a dependent on another
person’s tax return in the year of the contribution.
- The maximum out-of-pocket expense limit is $6,450
for individuals and $12,900 for families.
2015 ALLOWABLE CONTRUBUTIONS
- The annual contribution limit us $3,350 for an individual, $6,650 for families.
2014 ALLOWABLE CONTRUBUTIONS
- The annual contribution limit us $3,300 for an individual, $6,550 for families.
- You can continue to make 2014 contributions to your HSA Account until April 15, 2015. Please note: To apply contributions made in 2015 to your 2014 total, written permission is required by the IRS. Form available here. Simply complete and return to us via SECURE email, or bring to any branch.
Qualified Medical Expenses Include:
- Prescription medications
- Doctor visits
- Hospital care
- Dental and orthodontic fees
- Eyeglasses, contacts and exam fees
- Lab fees
- Chiropractor visits
- and much more
For more information, contact Member Services at (636) 720-2400 or (800) 500-6860, option 4.
A $25 deposit in a savings account is required for membership. *See a tax advisor for guidance as West Community does not provide tax advice.
**Individuals should always check with their plan administrator to determine eligibility.
The money you place in your Credit Union savings account is federally insured up to $250,000 by the National Credit Union Administration (NCUA), the strongest government insurance fund in the country.