Health Savings Accounts
If you are covered by a high-deductible health plan, you may be able to contribute annually to an HSA – a highly flexible savings account that allows you to put money aside for medical expenses. Your account will follow you no matter where you are employed, and your employer may even be able to make contributions on your behalf.
In addition to earning a higher rate of interest than a Regular Savings Account, an HSA can provide tax benefits, the funds can be used to pay for any qualified medical expenses and best of all – the funds roll over from year to year! Your account comes with a Visa debit card, as well as the ability to write checks.
Tax Benefits
- Individual contributions may be tax deductible; employer contributions are tax free.
- Distributions for qualified medical expenses are tax-free and penalty-free at any age.
- Earnings are tax-deferred.
How to Make Contributions:
- Payroll deduction or automatic transfer
- Transfer from a Noble Credit Union account
- Lump sum deposits up to the total yearly contribution*
- Make catch-up contributions (if you are over the age of 55)
Qualifying Expenses Include:
- Co=pays
- Deductibles
- Prescriptions
- Dental and vision care costs
- And so much more!
Visit any Noble Credit Union branch location to get started!
*Visit IRS.gov for yearly contribution and deductible limits and minimums.
Visit our Rates page for current dividend rates.
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