A Health Savings Account (HSA) is used together with a high deductible health plan as an alternative to traditional health care plans. It is a tax-sheltered savings account similar to an IRA, but designated specifically for medical expenses. The balance not used from the account each year stays in the account and continues to earn dividends on a tax-favored basis to supplement health care expenses or your retirement, similar to an IRA.

  • Use the WLFCU HSA Visa Debit Card for your convenience.
  • No administrative or annual fees.
  • HSA funds are completely liquid for you to use for your medical expenses.
  • No minimum balance requirements.
  • Optional automatic transfer from checking or payroll direct deposit makes saving effortless!
  • A balance of $500 earns dividends paid monthly based on the Average Daily Balance.