Health Savings Accounts
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 a MasterCard HSA debit card.
- Individuals covered at least one month by an HDHP that has a
minimum annual deductible of $1,250 or $2,500 for a family.
- For 2014, the maximum out-of-pocket expense limit is $6,350
for individuals and $12,700 for families.
- 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.
Qualified Medical Expenses
- Prescription medications
- Doctor visits
- Hospital care
- Dental and orthodontic fees
- Eyeglasses, contacts and exam fees
- Lab fees
- Chiropractor visits
- Acupuncture and 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.