Why is a health Savings Account important? By establishing a Health Savings Account, you are putting control of your healthcare spending back into your own hands.

A Health Savings Account (HSA) is a tax-exempt account established in conjunction with a High Deductible Health Plan (HDHP) exclusively for the purpose of paying qualified medical expenses of the account owner and dependents.

• Current dividend yield: 1.20%
• Compounded daily, credited monthly
• $50 minimum account balance required to earn a dividend

• You must be covered by a HDHP and you cannot be covered by any other medical plan that is not a HDHP.
• Balances in a HSA account carry forward from year to year.
• Contributions to the HSA account are deductible for federal tax purposes, subject to the limits under the tax code.
• Annual contributions are capped by the Federal Government
• Participants age 55 and over may be able to contribute an annual "catch up" contribution.

• Initial set-up fee is $15 which is waived with an Ashland CU checking account.
• Account history available through your monthly statements and Internet Teller
• No withdrawal fees.
• No monthly account maintenance fees.
• No account transfer fees.

• $50 minimum initial contribution
• Periodic contributions through:
• Payroll deduction/direct deposit
• ACH from another account of applicant
• Personal checks
• Transfer from Ashland CU savings, checking, or money market account

• Check withdrawal ($25 minimum)
• Debit card via HSA funds transfer to an Ashland CU checking account
• Free HSA convenience checks (8 annually)
• Additional convenience checks available for $1.00 (4 checks per page)
• Ashland CU checking account overdraft fees apply
• Monthly account transfer and withdrawal limitations apply

1. If you are not already a member of Ashland CU, you must apply for membership.
2. Review and familiarize yourself with pages 2-5 of the HSA Custodial Account Agreement and Disclosure Statement
3. Complete the HSA Application
4. Complete the HSA Eligibility and Information Form and
5. Complete Sections II and III of the Ashland CU Disclosure Statement

To hear more about what our HSA program can do for you, call us at 1-800-245-8112. For additional information on Health Savings Accounts, please consult your tax professional, log-on to the IRS’s website at www.irs.gov, or the USDepartment of the Treasury's website at www.ustreas.gov.