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  Health Savings Account
Y-12 Federal Credit Union offers health savings accounts for members with high deductible health plans (HDHP.) Health savings accounts (HSAs) are tax-advantaged custodial accounts established with a written agreement, which are used to accumulate savings to pay for health care expenses. An HSA operates very much like an IRA. There are specific eligibility requirements for opening an HSA, as well as limitations and rules for contributions and withdrawals. The member is responsible for determining whether he or she is eligible for opening the account, and the appropriate amount for contributions, as well as accounting for withdrawals.

Eligibility Requirements:

An eligible individual is an individual who:
  1. is covered under a high deductible health plan (HDHP) on the first day of the month,
  2. is generally not covered by any health plan that is not an HDHP,
  3. is not enrolled in Medicare, and
  4. may not be claimed as a dependent on another personís tax return.
A primary requirement for opening a health savings account is that the individual must be covered under a qualified high deductible health plan (HDHP.) To be considered as an HDHP, the plan has minimum amounts for deductibles, and maximum out of pocket expenses. Please contact any of our branches to learn more.

At Y-12 Federal Credit Union, your funds are insured up to $250,000 by the National Credit Union Share Insurance Funds, the strongest and best capitalized Federal Deposit Insurance Agency of the U.S. Government.

Autos 2011-2017 as low as 2.74% APR
60-Month Certificate as high as 1.25% APY
Home Equity-Variable Interest Only as low as 4.00% APR
*Rates subject to change; certain restrictions apply.(1)APR (2)APY
NMLS #441816
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency
Member Cellular Discounts with Sprint
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All Rights Reserved.