Health Savings Account (HSA)
Set aside pre-tax money each month for medical expenses and potentially save hundreds of dollars each year on your insurance premium and more.
Not A Member? |
Current Membersor contact us to upgrade your account today |
Health Savings Account Benefits
Unexpected health care costs are one of the leading causes of financial distress for families. We can help with this account designed to keep you prepared for the unknown. Our Health Savings Account provides tax-favored treatment for current and future medical expenses.
 Tax SavingsDon’t pay taxes on money used for eligible medical expenses. |
Account PortabilityThe account isn’t tied to an employer, so you have freedom and portability. |
Online Account AccessMonitor and manage your account online any time of the day or night. |
Health Savings Account Breakdown
| Best For | People with a high-deductible health insurance plan wanting to save money on co-pays, insurance premiums, and medicines. |
|---|---|
| Annual Fee | $25.00 |
| Minimum Balance | No |
| Roll-Overs | Full Balance year after year |
Not A Member? |
Current Membersor contact us to upgrade your account today |
★★★★★
“I have been with rrcu for 24 years and absolutely would not change. If I had any questions or needed assistance, they have always been there for me and quickly absolved any situation. I have and would highly recommend Red River Credit Union for satisfactory service and banking.
I love my Credit Union!”
- Josh R.
Health Savings Account (HSA) FAQs
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Do I have to be a member to open a Health Savings Account?
Yes. But we’d love for you to join our Credit Union, and becoming a RRCU member is easy. You can apply online or visit one of our many branches.
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Where can I see a list of covered or eligible expenses?
Healthcare.gov and IRS.gov post annual details and updates about HSA eligibility and eligible expenses, or contact RRCU at 903-735-3000 for current information.
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What happens if I change jobs? I know these accounts are often content with your employer?
That’s one of the great things about this plan. It’s not connected to an employer, so you can hold it for many years despite changes in employment. As of 2022, age for non-restricted withdrawal is 65.
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What is the contribution limit for this plan?
The IRS adjusts the limit from year to year, so it’s best to either reach out to us for the most updated amount or visit their website.
Not A Member? |
Current Membersor contact us to upgrade your account today |
See Our Other Savings Accounts
Not sure our Health Savings Account is the right one for you? We have several other savings accounts designed to meet your needs. See our Retirement Savings, Money Market, and more.
Questions? Click here to Contact Us.
*APY=Annual Percentage Yield. Rate subject to change without notice.