Health Savings Account

Be in control of your health spending.

Alarmed by the increasing costs of health care? At TBACU, we offer our members a wide array of services to help them plan and save for health related expenses. HSAs allow you to combine the protection of health insurance with a tax-deductible savings account. A Health Savings Account is an account to help you pay for qualified medical expenses that are not covered by an insurance plan. It can be funded with your tax-exempt dollars, by your employer, or both. Withdraw money from your HSA tax and penalty free at anytime to use for a variety of medical expenses – from the doctor and prescriptions to dental, vision and lab visits.

Health Saving Account Benefits

  • Security – You will have an opportunity to save money to pay high or unexpected medical bills.
  • Convenience – You own the account, so it goes where you go.
  • Savings – Your ability to deduct your contributions and the tax deferral of account earnings permit you to build your account.
  • Flexibility – You can make a contribution at any time throughout the year, and your HSA balance rolls over from year to year.
  • Affordability – High health insurance policy deductibles mean lower premiums.
**The information above is not intended and should not be construed as legal, tax or investment advice. Please contact your tax professional for such advice. Visit the IRS website on HSAs.