Save Smarter for Health Expenses with an HSA
A Health Savings Account (HSA) is a tax-advantaged savings account designed to help you pay for qualified medical expenses for yourself, your spouse, and your dependents. At Iroquois Federal, our HSAs offer:
- Tiered interest rates — the higher your balance, the more you earn
- No monthly fees
- Free debit card or the option to order checks
- Annual contribution limits (consult your tax advisor for details)
Eligibility Requirements for Regular Contributions
You’re eligible to contribute to an HSA if, for any given month:
- You are covered under a high-deductible health plan (HDHP) on the first day of the month
- You are not covered by any other non-HDHP health plan (with certain exceptions for preventative care and permitted coverage)
- You are not enrolled in Medicare
- You cannot be claimed as a dependent on someone else's tax return
Start with Just $50
We can help you establish an HSA with as little as $50. Have questions? Just ask. We'll be glad to help! Simply contact our team or stop by your local Iroquois Federal banking office and we'll help you get started on the process!