Health Savings Accounts*

HSA’s are designed to help individuals covered under a High Deductible Health Plan or a “catastrophic” health plan save money through tax-deductible contributions to cover current and future qualified medical expenses.

An ECFCU HSA also comes with these benefits:
· Visa Debit Card (s)
· Free E-Statements
· Free Home Banking and Bill
· Unlimited debit card transactions
· Monthly Dividends
· Varity of investment options through CUNA Brokerage Services

Click here to open a New Health Savings Account (HSA) You must complete these forms when rolling over or transferring funds from another financial institution to a new ECFCU HSA:
1. HSA Trust Application Packet
2. HSA Direct Transfer Instructions
ECFCU will contact the financial institution that has your current HSA and have them close the account and transfer the funds in order to open your new account.

In 2010 the maximum annual contributions are as follows:
Single Coverage contributions = $3,050 
Family Coverage = $6,150 
55 and older can make “catch-up” single= $1,000 family =$1,000
 
*Membership eligibility required. There is a $2.00 monthly administration fee with Health Savings Accounts. You must have a high deductible health plan or a “catastrophic” health plan in order to be eligible for an HSA account.