With an Holston Methodist FCU Health Savings Account, you can deposit funds to pay for current or future medical expenses. Funds used for qualified medical expenses, including dividends, are tax-free. Unused funds remain in the HSA year after year, earning tax-deferred dividends.

  • Competitive Dividends.
  • Easy access to funds via a free Visa HSA Debit Card or HSA Checks.
  • No fees for account opening, maintenance or transactions.

Free 24/7 account access:

2016 HSA Contribution Limits, Deductibles, and Out-of-Pocket Expenses

2016 offers individuals and families additional opportunities to save for current and future health care with a Health Savings Account (HSA):

  • HSA holders can choose to save up to $3,350 for an individual and $6,650 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,350 for an individual and $7,650 for a family) - and these contributions are 100% tax deductible from gross income.
  • Minimum annual deductibles are $1,300 for self-only coverage or $2,600 for family coverage.
  • Annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) cannot exceed $6,450 for self-only coverage and $12,900 for family coverage.
  Minimum Deductible Maximum
55+ Contribution
Single $ 1,300 $ 6,450 $ 3,350 $ 1,000
Family $ 2,600 $ 12,900 $ 6,650 $ 1,000

For more detailed information on HSA plans and taxes, visit the U.S. Department of Treasury website at www.ustreas.gov or talk to your tax advisor.