Health Savings Account (HSA)

Rates

Health Savings Account Rates

Your Health Savings Account rates increase when you invest more towards future medical expenses.

Tier Rate	Rate	APY*
$0 - $499.99	0.45%	0.45%	Tier Rate: $0 - $499.99 Rate: 0.45% APY*: 0.45%
$500.00 - $9,999.99	0.45%	0.45%	Tier Rate: $500.00 - $9,999.99 Rate: 0.45% APY*: 0.45%
$10,000.00 - $24,999.99	0.50%	0.50%	Tier Rate: $10,000.00 - $24,999.99 Rate: 0.50% APY*: 0.50%
$25,000.00 - $49,999.99	0.60%	0.60%	Tier Rate: $25,000.00 - $49,999.99 Rate: 0.60% APY*: 0.60%
$50,000.00 - $99,999.99	0.80%	0.80%	Tier Rate: $50,000.00 - $99,999.99 Rate: 0.80% APY*: 0.80%
$100,000.00 - and above	0.85%	0.85%	Tier Rate: $100,000.00 - and above Rate: 0.85% APY*: 0.85%

View Current Health Savings Account (HSA) Disclosure Supplement

Minimum Opening Deposit: None
Minimum Balance: $0.00
^*APY = Annual Percentage Yield. Rates subject to change.

Fees

Health Savings Account Fees

Delta Community Credit Union Health Savings Accounts have no annual fees to maintain the account.

Fee Type	Amount
Annual Fee	$0.00	Fee Type: Annual Fee Amount: $0.00
Institutional Transfer Out after 1 free yearly	$25.00 each	Fee Type: Institutional Transfer Out Amount: $25.00 each after 1 free yearly

HSA earnings are tax-deferred, or tax-free when used for qualified medical expenses
HSAs may be used to pay qualified medical expenses with pre-tax dollars
HSA balances are carried over year-to-year.
Starting at age 65 unused HSA funds may be used penalty-free as taxable retirement income
Upon death, HSA assets become property of the beneficiary (A spouse may treat the assets as his/her own HSA. For a non-spouse beneficiary, inherited HSA assets are treated as ordinary taxable income.)

Who is eligible to participate to a Health Savings Account (HSA)?

Members must have their own primary membership to open an HSA at Delta Community Credit Union.
No joint owners are allowed on HSAs, but HSAs may have an Authorized Signer. In addition, Single and Family HSAs may have beneficiaries.
Eligibility is determined on a monthly basis. On the first day of the month, the HSA holder:
- Must be covered by a high deductible health plan (HDHP)
- May not be covered by any health plan that is not a HDHP
- May not be enrolled in the federal government's Medicare program
- May not be claimed as a dependent on another person's tax return

What is the contribution deadline for an HSA?

The deadline to contribute to an HSA for the previous tax year is the tax return deadline (usually April 15^th, but the date may vary).

HSA Contribution Limits

Tax Year	HSA Type	Annual Contribution Limit	"Catch-Up" Contributions Owner is 55 or older
2024	Single	$4,150	$1,000 ($5,150 total)
2024	Family	$8,300	$1,000 ($9,300 total)
2023	Single	$3,850	$1,000 ($4,850 total)
2023	Family	$7,750	$1,000 ($8,750 total)

For more information, visit the IRS website.

How can I contribute to my HSA?

You can contribute to an HSA through Online Banking or our Mobile App. Contributions you make through Online Banking may be made for the current year or the previous year. Previous year contributions must be made prior to the tax return deadline for that year and can only be made within Online Banking from a web browser; this is not available within Delta Community’s Mobile App.

You may also submit a request that Delta Community make the contribution(s) for you by completing the HSA deposit forms. BAll forms must be completed, signed and must indicate the tax year for which the contribution is being made.

On the HSA Contribution Eligibility form in Part 3. Contribution Type Eligibility Requirements, all four (4) statements under the heading: Regular must be true and all four (4) boxes marked with a check or “X” mark certifying eligibility to contribute to an HSA.

Return the completed forms in person at a branch, by mail, by fax or upload through Online Banking. For your convenience, the address and phone number appear under Part 2 on the forms.

To upload the forms, follow the steps below:

Log into Online Banking and select Contact Us under Additional Services.
Select Messages to create a New Message.
In the subject add “Attention IRA Department” and in the Description, include the names of the forms.
Attach the files before submitting the message.

How can I access my HSA funds?

Withdrawals from an HSA account can be done using different methods including:

ATMs
Checks
Debit Cards
In branch withdrawal with a Member Service Agent
Online Banking
Mobile Banking App

ACH to HSA Account - Code as Checking Account

If you request to deposit electronically (ACH) to your Health Savings Account, you will need to advise the company or financial institution to code it as a Checking Account and not as a Savings Account. This is due to HSA Accounts having check writing capabilities.

What happens to the money in my HSA if I lose my HDHP (High Deductible Health Plan) coverage?

When coverage under a HDHP is lost, funds deposited into your HSA remain in your account and automatically carry over from one year to the next. You may continue to use the HSA funds for qualified medical expenses. If you are no longer enrolled in a high deductible health plan, you are not eligible to contribute additional funds to an HSA. If you regain HDHP coverage at a later date, you may begin making contributions to your HSA again. Call Delta Community’s IRA/HSA Department at 404-677-4600 to advise that you are no longer covered under a HDHP.

If you regain HDHP coverage at a later date, you may be eligible to make prorated contributions to your HSA again.

If you are not covered by an HDHP for the entire year, the annual contribution limit may be prorated. It is recommended to consult a tax professional to determine the maximum contribution allowed for the tax year.

What are qualified medical expenses for Health Savings Accounts (HSAs)?

Qualified medical expenses for HSAs include, but are not limited to, the following:

Medical expenses including doctor visits, prescriptions, transportation to get medical and dental care
Long term care services
Health coverage when unemployed
Certain continuation of benefit health care coverage
Certain health insurance after age 65

Refer to IRS Publication 502: Medical and Dental Expenses for a complete list of qualified medical expenses. It is recommended to consult a tax professional to determine if a medical expense is considered qualified.

What is National Credit Union Administration?

The National Credit Union Administration is an independent agency of the United States Government. Congress established the NCUA share insurance program in 1970 in order to insure member share accounts of federally insured Credit Unions. NCUA Insurance helps to maintain sound conditions in the Credit Union industry and protects those insured in the event of failure of an insured Credit Union due to insolvency or bankruptcy, as determined by the National Credit Union Administration Board. Members in an insured Credit Union do not pay for share insurance protection directly. Delta Community maintains deposits with the Share Insurance Fund equal to 1% of member deposits. The basic insured amount for a Credit Union member under current law is $250,000. Share accounts maintained in different rights or capacities, or form of ownership, may each be separately insured up to $250,000. Thus a member may hold or have an interest in more than one separately insured share account in the same insured Credit Union. For complete details of the National Credit Union Share Insurance Fund (NCUSIF), visit their web site.

Are my deposits at Delta Community CU insured under NCUA?

The shares in your Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF), an arm of the National Credit Union Administration. The basic insured amount for a Credit Union member under current laws is $250,000. Accounts in different forms of ownership or title may each be separately insured to $250,000.

Visit NCUA's web site for additional information regarding the share insurance calculator.

Are the funds in my Money Market Account or Health Savings Account (HSAs) insured?

MMA and HSA funds are deposit accounts and are insured as stated above.

We do not offer Money Market Fund Accounts, which are investment accounts and not federally insured at this time.

What insurance coverage is provided for IRA accounts?

IRA accounts are insured up to $250,000 and are insured separately from the other deposit accounts that the member maintains in the same Credit Union. An individual's IRAs at the same Credit Union are insured in the aggregate to the maximum of $250,000.

Is my account insured individually up to $250,000 through the NCUA?

The basic insured amount for a Credit Union member under current law is $250,000. Share accounts maintained in different rights or capacities, or form of ownership, may each be separately insured up to $250,000. Thus a member may hold or have an interest in more than one separately insured share account in the same insured Credit Union. For complete details of the National Credit Union Share Insurance Fund (NCUSIF), visit their website.

I need more than $250,000.00 in federal insurance coverage on my Savings and Checking Accounts. How can I title my accounts so that I will have more coverage?

Delta Community CU can open individual (one owner), joint ownership (two or more owners) or payable-on-death (account that passes funds to a beneficiary upon the death of the owner) accounts for you. The basic insured amount for each member is $250,000. Member accounts maintained in different titles, capacities, or forms of ownership, may each be separately insured up to $250,000.

To request that your account be reviewed by Delta Community CU contact us within Online Banking from Contact Us under Additional Services. Please include any details concerning expected future deposits.

If I have accounts in several different insured Credit Unions, will the accounts be added together for the purpose of insurance coverage?

The maximum insurance of $250,000 is applicable to share accounts in each insured Credit Union. A member who has share accounts in two or more different insured Credit Unions would have up to $250,000 insurance in each Credit Union.

To review your current coverage go to the NCUA's website.

What is a P.O.D. (Payable on Death) account?

A Payable on Death (POD) beneficiary is the individual who is entitled to receive the funds in an account upon the death of the account holder(s). By designating a POD on an account, the funds in the account are payable upon the death of the primary and joint owners on the account. If more than one POD is named on a share, funds will be dispersed equally to the PODs. There is no limit to the number of beneficiaries that may be designated on an account and no age limitations for the POD beneficiaries.

The POD must be an individual(s) other than the member and/or joint owner(s). If more than one beneficiary is named, all surviving beneficiaries will receive an equal share. Corporations, charities and non-profit organizations are eligible to be named as POD. For business accounts, POD's are only allowed on Sole Proprietorships'. They are not allowed on Partnerships, LLC's or Corporations.

A POD may be added to any deposit account at any time by completing the Designation of Beneficiary Form. This form must be signed by both the primary member as well as any joint owners on the share to which PODs are being added. The name, social security number and date of birth of the beneficiary are needed to add a POD to an account. If the beneficiary is not a US citizen additional contact information will be needed in place of the social security number.

Members who have a Family Trust established have a choice of two options in naming the P.O.D. payee. The first option is naming the "trust"; for example "John D. Doe Revocable Living Trust u/t/d July 27, 2010". The "trust" must include the date the trust was established. The second option is to designate the successor trustee of the "trust" as a P.O.D. payee. The P.O.D. payee must be an individual other than the owner (s) and his/her social security number is provided for identification purposes only. For example : "John D. Doe, Successor Trustee of the Smith Family Trust", social security number 000-00-0000.

If there are any changes to the POD, it will be the responsibility of the account holders to update the designation with a new Designation of Beneficiary form. For IRA and HSA beneficiaries, contact the Credit Union to speak with an IRA Specialist to obtain more information.

How do I remove a POD (Payable on Death)/beneficiary from my account (excluding IRA and HSA)?

You will need to complete the Designation of Beneficiary form and it must be signed by the primary member and any joint owners on the account. This form is used to: designate new beneficiaries, add beneficiaries by listing new and existing beneficiaries and remove existing beneficiaries. Please remember to include your POD's social security number on the form.

Apply Now

Ready to start saving with a Health Savings Account?

If you’re currently a member, check out our open an account page for more details on how to start saving for your medical expenses.

If you’re not yet a member, open an account to sign up today!

Other forms that may be associated with HSAs are:

Health Savings Account (HSA) Authorized User Request
Add or remove an authorized user for your Family HSA.
Health Savings Account (HSA) Deposit Form
Deposit money into a Regular HSA or a Rollover HSA. Additional paperwork may be required for a Rollover.
Health Savings Account (HSA) Transfer Request
Transfer HSA funds to a new custodian.
Health Savings Account (HSA) Withdrawal Form
Use the funds you have saved in your HSA for medical expenses.
Health Savings Account (HSA) Beneficiary Form
Designate a beneficiary for your Personal HSA.

If you have transfers or rollovers concerning your HSA, please contact us at 404-677-4600 and ask for an IRA Specialist.

Health Savings Account (HSA)

Overview & Benefits

Health Savings Account Benefits

A different way to save for health care

2024 contribution limits for Health Savings Accounts are as follows:

2023 contribution limits for Health Savings Accounts are as follows:

Routing Number

Rates

Health Savings Account Rates

Fees

Health Savings Account Fees

Apply Now

Ready to start saving with a Health Savings Account?

Other forms that may be associated with HSAs are:

Health Savings Account (HSA)

Overview & Benefits

Health Savings Account Benefits

A different way to save for health care

2024 contribution limits for Health Savings Accounts are as follows:

2023 contribution limits for Health Savings Accounts are as follows:

Routing Number

Rates

Health Savings Account Rates

Fees

Health Savings Account Fees

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