Take Control of your Healthcare Savings
A Health Savings Account (HSA) from North Star Community Credit Union offers a tax-advantaged way to save and pay for qualified medical expenses. If you're enrolled in a high-deductible health plan (HDHP), an HSA helps you plan for healthcare costs now and in the future—while keeping your money secure and accessible when you need it most.
Health Savings Account (HSA)
A Health Savings Account (HSA) is a tax-advantaged account designed to help you pay for qualified medical expenses, both now and in the future. When paired with a high-deductible health plan (HDHP), it offers a flexible way to manage healthcare costs with long-term savings potential.
Contributions to an HSA are made pre-tax, grow tax-free, and can be withdrawn tax-free when used for qualified medical expenses. Unlike a Flexible Spending Account (FSA), HSA funds carry over year to year and are not forfeited if unused.
Eligibility Requirements
To open and contribute to an HSA, you must:
Be enrolled in a qualified high-deductible health plan (HDHP)
Not be enrolled in Medicare
Not be covered under any other non-HDHP health plan
Not be claimed as a dependent on another person’s tax return
With an HSA, you are responsible for verifying that your health care plan qualifies as a high-deductible health plan (HDHP) and for tracking your allowable annual contribution limits. You are also responsible for ensuring that withdrawals are used for qualified medical expenses as defined by the IRS and are eligible for reimbursement.
Account Features
Tax-free contributions and earnings
Tax-free withdrawals for qualified medical expenses
Funds roll over from year to year—no "use-it-or-lose-it" rule
Checks provided for easy access to HSA funds
Online banking access for account management
For assistance with HSA contribution limits or qualified expenses, please consult your tax advisor.
Ready to plan ahead for medical expenses or supplement your retirement savings? Open a Health Savings Account at North Star Community Credit Union today.
Health Savings Account Rates
Current Rates effective as of July 23, 2025.
| Account | DIVIDEND RATE | APY** |
|---|---|---|
| Health Savings Share Draft Account | 0.20% | 0.20% |