Access exclusive benefits when you save for health and medical expenses through a Health Savings Account (HSA). In order to qualify, you'll need a high-deductible health insurance plan. Funds in your account may be eligible for major tax savings for both routine and emergency health expenses in Moorhead and beyond.
How a Health Savings Account in Moorhead Works
An HSA is a special type of savings account designed for individuals enrolled in a high-deductible health insurance plan. Annual contributions are made with pre-tax dollars, which lowers the amount of income tax you pay each year.** As medical expenses pop up, you can use the funds in your account to cover the costs.
Plus, you don't need to worry about losing your cash at the end of the year. HSA funds rollover each year — there's no "use it or lose it" penalty involved. Finally, earnings are tax-deferred, which means any growth isn't taxed unless you use the money for non-eligible expenses.
Benefits of a Town & Country Health Savings Account
When you choose Town & Country for your Moorhead HSA, you'll enjoy several perks, such as:
No monthly fee: Keep your balance intact for actual medical expenses.
Free debit card to access your funds: Pay at the store or pharmacy with a simple swipe.
Your HSA works with any employer: Instead of opening an HSA through an employer and losing account access when you leave, you have your Town & Country HSA no matter where you work.
Taking care of your health can get expensive, but an HSA comes with a variety of financial perks to make it more affordable. With Town & Country Credit Union, you'll get the best of both worlds, with incredible service alongside an incredibly beneficial savings vehicle.
*APY=Annual Percentage Yield. Rate accurate as of 11/13/2024. Terms and conditions apply and are subject to change. **Other limitations may apply. Your tax advisor can help determine if you are eligible.
