Health Savings Account

A smart way to handle health care costs

Consumers today are concerned about rising health care costs and how unexpected medical expenses can be a drain on savings. Bellco now 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.

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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).

Is a HSA right for me?

Coupled with a High Deductible Health Plan, an HSA might be a great way for you to handle your medical costs.

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