HSAs Now Available at DCU

Looking for a way to ease the pain of increasing health care costs? You may want to see if you're eligible for a Health Savings Account (HSA). An HSA is a tax-favored account used to pay for qualified medical expenses. DCU now offers HSA Checking Accounts for eligible members.

Who Is Eligible?
If you currently have a high-deductible health plan (HDHP), you may be eligible for a consumer-directed HSA. An HSA works in tandem with an HDHP and helps you save for current and future health care expenses, such as doctor visits, prescriptions, dental care, and certain types of additional health care coverage.*

• Covered under an HDHP on the first day of the month.
• Generally not covered by any health plan that is not an HDHP (some
  exceptions exist).
• Not enrolled in Medicare.
• Not claimed as a dependent on another person's tax return.

Contributions to an HSA and the account's earnings can be used tax-free to pay premiums, co-pays, deductibles, and other expenses of the HDHP. In 2008, the minimum annual deductible for individual coverage is $1,100 and $2,200 for family coverage. The HDHP maximum annual out-of-pocket limit (including deductibles, co-payments and other amounts, but excluding premiums) is $5,600 for individual coverage and $11,200 for family coverage. These amounts are indexed to inflation annually. A range of HDHPs are available from no deductible for preventive care to higher out-of-pocket limits for non-network services.

DCU's HSA Checking Account
If you qualify for an HSA, you can open an HSA Checking Account at DCU. You can access your HSA Checking Account 24 hours a day using PC Branch or Easy Touch Telephone Teller. You will also receive a Health Savings Account debit card that can be used at any ATM. You can transfer money into your HSA Checking Account from your other DCU account – we even make it easy to help you grow your account through automatic transfers with PC Branch. And your HSA Checking Account is federally insured along with your other DCU savings up to $100,000 through the National Credit Union Administration.

Learn More Today
To learn more about HSAs, talk to your employer or health insurance company, or visit the HSA Service Center at dcu.org. You may also speak with a Member Service Representative at a DCU branch or by calling 508.263.6700 or 800.328.8797.

* Nonqualified distributions are subject to income tax and a 10% tax penalty.