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Health Savings Accounts (HSA)

A tax-deductible HSA provides an excellent way to save for qualified medical expenses. A high deductible health plan is required to start an HSA.

Home Federal has been committed to HSAs since day one and our passionate expertise has led to one of the best HSA products in the country. From the grassroots level, Home Federal knows HSAs are a great way to both pay for health care and save money—all while enjoying excellent tax benefits.

Summary

Customizable Home Federal HSA options
No initial setup fee
Contributions are tax deductible
Interest grows tax-free
Withdrawals are tax-free when used for qualified medical expenses
No minimum balance to open
Money invested carries over year to year

Learn more about Home Federal HSAs here.

Check out our current rates.

Eligibility

Must be covered under a qualified, high deductible health plan
Must not have coverage by another type of health plan
Cannot be claimed as a dependent on another person's tax return
Cannot be enrolled in Medicare

Contribution Limit is Determined By:

Whether you have individual or family coverage
Statutory annual limit set by the federal government
If a person is age 55 or older, they are eligible to make "catch-up" contributions