Health Savings Accounts (HSAs)
Beacon Credit Union offers Health Savings Accounts. Health Savings Accounts will change the way millions meet their health care needs because they are designed to help individuals save for qualified medical and retiree health expenses on a tax-advantaged basis.
Any adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA.
Learn more and open your HSA Account by visiting any branch location.
Health Savings Account Features
Your HSA will be deposited with Beacon Credit Union. You will receive a monthly statement, which details all deposits and withdrawals. If you have written checks, images may be viewed on Beacon’s website. In addition eStatements are available. This is an excellent way to archive and store all of your account history for tax purposes.
HSA Debit Card
Your HSA VISA debit card can be used for your convenience to make qualified healthcare purchases anywhere VISA is accepted. Purchases will be automatically deducted from your HSA.
If you order HSA checks, you will receive a supply of Health Savings Account checks that can be used to pay for your qualified healthcare expenses.
Your account will earn interest at the same rate as Beacon’s Savings Plus account.
If the balance in your HSA is below $100 in any month, a $3.00 fee will be charged. There are no set-up fees, debit card fees or monthly maintenance fees.
You will have access to your account balances and activity through Beacon Online. In addition, healthcare expenses may also be paid through the free bill payment service.