What is a Health Savings Account?
A Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents.
Am I eligible for an HSA?
You are eligible to make a regular HSA contribution if, with respect to any month, you:
• Are covered under a high-deductible health plan (HDHP) on the first day of such month;
• Are not also covered by any other health plan that is not an HDHP (with certain exceptions for plans providing preventive care and limited types of permitted insurance and permitted coverage);
• Are not enrolled in Medicare; and
• Cannot be claimed as a dependent on another individual's tax return.
Deposit products offered by Iroquois Federal Saving and Loan. Equal Housing Lender . Member FDIC.
Insurance Products/services available through Iroquois Insurance, a subsidiary of Iroquois Federal.
Not a Deposit • Not insured by FDIC or any other governmental agency • May Lose Value • Not guaranteed by Iroquois Federal • Subject to risk
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