Health Savings Accounts (HSAs)

Don’t let an unexpected medical expense or costly health care bill disrupt your life. If you have a High Deductible Health Plan (HDHP), you can save smarter with a tax-advantaged Health Savings Account.

Open an Account

An easy way to pay for medical costs

  • Free Visa® Health Savings Debit Card for medical expenses

  • No minimum balance required, zero transaction fees

  • Earn tax-free, high-rate interest

  • Deduct 100% of your HSA contributions from your taxable income

  • Get a better rate the more you save

More Ways to Save

Get Started with an HSA

1

See if an HSA is right for you

Visit our Retirement Service Center or talk to a VyStar representative to see if you qualify for an HSA.

2

Become a Member

Quickly and easily complete your application online, by phone or at one of our branches.

3

Open Your Account

Give us a call or visit a branch to open your HSA account.

Health Savings Account FAQs

What is a High Deductible Health Plan (HDHP)?

A health plan is an HDHP if it satisfies the annual deductible and out-of-pocket expense requirements for the current tax year. There are different requirements for plans that cover one person and those that cover a whole family. Visit our Retirement Service Center to find out whether your plan qualifies as an HDHP.

How do HSAs affect my taxes?

You can make tax-deductible contributions to your HSA and withdraw the funds tax-free to pay for qualified medical expenses. Visit our Retirement Service Center to learn more about how to determine which of your expenses are qualified medical expenses.

How can I use the money in my HSA?

You can use the money in your HSA to pay for qualified medical expenses. These expenses must be paid by the HSA account holder, their spouse or their dependents, and they can’t be covered by insurance. Visit our Retirement Service Center to learn more about what kinds of things count as qualified medical expenses for an HSA.

How much can I contribute to my HSA?

The yearly contribution limits for an HSA depend on several factors, including your age and what percentage of the current year you’ve been covered by a High Deductible Health Plan (HDHP). For details, visit our Retirement Service Center.

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