Health Savings Accounts
About HSAs | FAQ | Open an HSA | Contribution Limits | Qualified Expenses
High Deductible Health Plans (HDHP) from Local Insurance Agencies | Resources
STEP 1
Become a member of Beacon Credit Union by visiting any branch location. If you are already a member, you have already completed this step. If you are not a member, go to any Beacon branch and open an account with a minimum deposit of $25.
STEP 2
To be an eligible individual and qualify for an HSA, you must meet the following requirement:
- You are covered under a High Deductible Health Plan (HDHP).
- You have no other health coverage besides an HDHP.
- You are not enrolled in Medicare.
- You are not eligible to be claimed as a dependent.
Each individual who is eligible for an HSA must open a separate HSA. You cannot have a joint HSA.
STEP 3
Complete the Health Savings Trust Account application and agreement. A Beacon Member Service Representative at any branch can assist you in completing the form. Beacon will issue you an HSA debit card and send you HSA checks (if ordered).
STEP 4
Fund the account. You may make deposits at any Beacon CU branch, by mail, by transfer from another Beacon account, by payroll deduction or direct debit of another financial institution account.
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