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HSA Service Center

HSA Service Center

HSA Service Center

Open and Manage your DCU Health Savings Account Online

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DCU Health Savings Account Online 

Health Savings Accounts (HSAs) are tax-favored savings arrangements for individuals and families covered by high deductible health insurance plans. HSAs were created by the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, and became available January 1, 2004. HSAs allow for tax-deductible contributions and tax-free distributions if distributed amounts are used to pay for qualified medical expenses. Qualified medical expenses include expenses incurred by spouses and dependents even if they are not eligible for an HSA. Although employers may contribute to an employee’s HSA, each HSA is owned and controlled by the individual, not the employer.

Who is eligible to establish an HSA?

Any eligible individual may establish an HSA. Eligibility is determined on a monthly basis. To be eligible, an individual must meet all of the following requirements.

  • Covered under a high deductible health plan (HDHP) on the first day of the month.
  • Generally not covered by any health plan that is not an HDHP (exceptions exist for coverage that is not part of an HDHP for accidents, disability, dental care, vision care, long-term care, or permitted insurance).
  • Not enrolled in Medicare.
  • Not able to be claimed as a dependent on another person’s tax return.

The owner of an HSA is called the "HSA owner."

NOTE: Permitted insurance is insurance under which substantially all of the coverage provided relates to liabilities incurred under workers’ compensation laws, tort liabilities, liabilities relating to ownership or use of property (e.g., automobile insurance), insurance for a specified disease, or illness and insurance that provides a fixed payment for hospitalization.

FAQs and Resources:

If you have additional questions, please consult with a tax professional.

  

HSA¹ Checking Account Rates

Offers a tax advantage to help offset healthcare expenses

Minimum Daily Balance to earn Minimum Daily Balance to earn Dividend Rate Dividend Rate APY² APY²
$100,000 or more 0.45% 0.45%
$50,000 to $99,999 0.40% 0.40%
$25,000 to $49,999 0.35% 0.35%
$10,000 to $24,999 0.30% 0.30%
$1,000 to $9,999 0.25% 0.25%
less than $1,000 0.20% 0.20%
Minimum Daily Balance to earn Minimum Daily Balance to earn Dividend Rate Dividend Rate APY² APY²
$100,000 or more 0.45% 0.45%
$50,000 to $99,999 0.40% 0.40%
$25,000 to $49,999 0.35% 0.35%
$10,000 to $24,999 0.30% 0.30%
$1,000 to $9,999 0.25% 0.25%
less than $1,000 0.20% 0.20%

Rates are effective {currentdate}.

¹HSA = Health Savings Account transactions are subject to IRS rules and regulations. To review these rules and regulations, click here.

²APY = Annual Percentage Yield. Rates are variable, may change after the account is opened and subject to change weekly.  Fees or other conditions may reduce earnings. Other conditions may apply. Please refer to DCU's Truth-in-Savings Disclosures and Account AgreementsSchedule of Fees and Service Charges and Electronic Services Disclosure and Agreements for important information and disclosures.