Health Savings Account

A smart way to handle healthcare costs

Consumers today are concerned about rising healthcare costs and how unexpected medical expenses can be a drain on savings. Bellco offers a way to save for future medical expenses—while earning steady interest in a secure health savings account that offers you flexibility, tax advantages, and convenient access to your funds.

What is an HSA?

A Health Savings Account (HSA) is a tax-advantaged* savings account that you can use to pay for a wide variety of health expenses. It’s a great way to save for both day-to-day and future medical costs.

• Tax-deductible contributions*
• Tax-deferred dividend earnings with competitive interest rates*
• Tax-free withdrawals (if used for qualified expenses)*
• No "use it or lose it" restrictions, since the balance carries over from year-to-year
• You keep the funds, even with changes in your insurance coverage or employment
• Easy access to funds using HSA debit card and checks
• Online access to account transactions, so keeping tabs on your medical spending is easy
• Checking account with optional CDs — provides greater earnings opportunity for larger account balances
• Funds are federally insured by the National Credit Union Administration
• No monthly maintenance fees
• Low $16 setup fee

HSA Eligibility

You must meet certain requirements to be eligible for an HSA; most importantly, you must be covered under a high deductible health plan (HDHP).