Health Savings Accounts - Afena Federal Credit Union

Health Savings Accounts

Combat high deductibles with an HSA…

With rising deductibles, a surprise visit to the doctor is the last thing you want. With our Health Savings Accounts you can save some of your pre-tax money and be prepared for future medical expenses, all while keeping any interest earnings tax-deferred or exempt. If you have a high deductible health plan, an HSA will give you peace of mind knowing you’re ready for unexpected medical bills.

Features and Benefits:

 

  • Favorable tax treatment of contributions and distributions
  • May contribute up to $3,600 for individuals and $7,200 for families in 2021 starting January 1st 2021
  • Distributions are tax-free for qualified medical expenses
  • Balance rolls over from one year to the next

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