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Health Savings Account (HSA)

Investing in a Healthier You

A Health Savings Account (HSA) is a tax-advantaged medical savings account available to those who are enrolled in a high-deductible health plan. The funds contributed to an HSA are not subject to federal income tax at the time of deposit.

Learn More about Health Savings Accounts Apply Now for a Health Savings Account

Overview & Benefits

Our Health Savings Account lets you put aside money for medical expenses that you can deduct from your gross income to help with your taxes.

The IRS has extended the date to make contributions to your HSA for the 2019 tax year from the original deadline of April 15, 2020, to July 15, 2020.

Health Savings Account Benefits

  • Earnings are tax-deferred or tax-free when used for qualified medical expenses
  • Qualified medical expenses paid with pre-tax dollars
  • Balances carry over year-to-year
  • Starting at age 65, unused funds may be used as taxable retirement income

To open a Health Savings Account, please complete the Health Savings Account Eligibility Form and the Health Savings Account Application. Complete both forms and return to Delta Community Credit Union by fax (404-677-4964) or mail, along with any of the applicable forms below.

A different way to save for health care

To be eligible for a Health Savings Account, an individual must be someone who is:

  1. Covered under a high deductible health plan
  2. Generally not covered by any health plan that is not a high deductible health plan
  3. Not enrolled in Medicare
  4. Not eligible to be claimed as a dependent on another person's tax return.

To calculate your investment use our free Savings Calculators.

The IRS has extended the date to make contributions to your HSA for the 2019 tax year from the original deadline of April 15, 2020, to July 15, 2020.

2019 contribution limits for Health Savings Accounts are as follows:

  • Single HSA: $3,500
  • Family HSA: $7,000
  • Catch up contribution: $1,000 for owners 55 or older

2020 contribution limits for Health Savings Accounts are as follows:

  • Single HSA: $3,550
  • Family HSA: $7,100
  • Catch up contribution: $1,000 for owners 55 or older

Rates

Health Savings Account Rates

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

Tier Rate Rate APY*
$0 - $9,999.99 0.17% 0.17%
Tier Rate:
$0 - $9,999.99
Rate:
0.17%
APY*:
0.17%
$10,000.00 - $24,999.99 0.27% 0.27%
Tier Rate:
$10,000.00 - $24,999.99
Rate:
0.27%
APY*:
0.27%
$25,000.00 - $49,999.99 0.37% 0.37%
Tier Rate:
$25,000.00 - $49,999.99
Rate:
0.37%
APY*:
0.37%
$50,000.00 - $99,999.99 0.42% 0.42%
Tier Rate:
$50,000.00 - $99,999.99
Rate:
0.42%
APY*:
0.42%
$100,000.00 - and above 0.47% 0.47%
Tier Rate:
$100,000.00 - and above
Rate:
0.47%
APY*:
0.47%

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

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:

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