Health Savings Accounts (HSA)
HSAs are good for your health and financial well-being.
Health Savings Accounts (HSAs) are designed to help our members save for medical expenses not covered by insurance. The appeal of HSA accounts extends beyond just medical savings. One of the benefits of HSAs is the ability to utilize any unused dollars toward your retirement savings after age 65. It's one account that prepares you for medical emergencies and helps secure your future.
cPort HSA Benefits*
Top 3 Tax Benefits
- Deposits are tax deductible.
- Withdrawals from HSAs are not taxed, if used for qualifying medical expenses.
- Interest earned on your HSA balance is not taxed.
HSAs Are Portable
- If you change jobs or move away, your money stays with you.
Balances Roll Over Year To Year
- There is no "use it or lose it" rule. Your money is yours until you need it for medical purposes, or you can use it for retirement!
Anyone Can Contribute to Your Account
- You, your employer, or family members can make deposits into your HSA.
Easy Access To Your HSA Funds
- You can use your debit card, a check, or make cash withdrawals.
- Funds from your HSA may be used to cover expenses for you, your spouse, or your dependent children.
No Minimum Balance Required
No Monthly Fees
Who Qualifies for an HSA?
Enrolled in a High Deductible Health Plan (HDHP)
Not enrolled in Medicare or other non-HDHP health plan
Not claimed as a dependent on someone else's tax return
Become a Member to Apply
*cPort Credit Union does not provide tax, investment, legal or accounting advice. This information is therefore not intended to provide, and should not be relied on for, tax, investment, legal or accounting advice. Federally insured by NCUA
Membership Eligibility for a cPort Credit Union Account
You are eligible to open an account at our Maine credit union if you live or work in Cumberland, Kennebec, Sagadahoc, Androscoggin, or York County.