According to HealthCare.gov, a Health Savings Account (HSA) is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance, and some other expenses, you can lower your overall health care costs. An HSA can be used only if you have a High Deductible Health Plan (HDHP).
Industrial Credit Union is able to host your HSA if your employer offers payroll deduction. To find out whether your company participates, please contact your Human Resources professional.