Health Savings Accounts

Compare rates on health savings accounts from banks and credit unions. Use the filter box below to customize your results. Click here to read more about health savings accounts (HSAs), including benefits and tax implications.

Location
Deposit Amount
Type
Institution
APY
Service Charge
Min. to Earn
Min. Deposit
Bellco Credit Union
HSA Savings
2.6 (17 Reviews)
3.45%
$0
$10k
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Bellco Credit Union
HSA Savings
View
2.6 (17 Reviews) NCUA Insured
APY 3.45%
Service Charge $0
Minimum to Earn $10k
Minimum Deposit
Heritage Bank
Health Savings Account
4.2 (9 Reviews)
3.02%
$5k
$50
View
Heritage Bank
Health Savings Account
View
4.2 (9 Reviews) Member FDIC
APY 3.02%
Service Charge
Minimum to Earn $5k
Minimum Deposit $50
Farmers Insurance Federal Credit Union
Health Savings Account
1.4 (14 Reviews)
2.50%
$0
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Farmers Insurance Federal Credit Union
Health Savings Account
View
1.4 (14 Reviews) NCUA Insured
APY 2.50%
Service Charge
Minimum to Earn $0
Minimum Deposit
Liberty Federal Credit Union
Health Savings Checking
3.1 (17 Reviews)
2.01%
$500
$0
View
Liberty Federal Credit Union
Health Savings Checking
View
3.1 (17 Reviews) NCUA Insured
APY 2.01%
Service Charge
Minimum to Earn $500
Minimum Deposit $0
Jovia Financial Credit Union
Health Savings Account
2.1 (8 Reviews)
2.00%
$0
$15k
View
Jovia Financial Credit Union
Health Savings Account
View
2.1 (8 Reviews) NCUA Insured
APY 2.00%
Service Charge $0
Minimum to Earn $15k
Minimum Deposit
Notre Dame Federal Credit Union
Health Savings Account
2.3 (4 Reviews)
2.00%
$400
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Notre Dame Federal Credit Union
Health Savings Account
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2.3 (4 Reviews) NCUA Insured
APY 2.00%
Service Charge
Minimum to Earn $400
Minimum Deposit
Vision Financial Federal Credit Union
Health Savings Account
0.0 (0 Reviews)
1.51%
$0
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Vision Financial Federal Credit Union
Health Savings Account
View
0.0 (0 Reviews) NCUA Insured
APY 1.51%
Service Charge
Minimum to Earn $0
Minimum Deposit
Great Lakes Credit Union
Health Savings Account
2.4 (11 Reviews)
1.50%
$100
View
Great Lakes Credit Union
Health Savings Account
View
2.4 (11 Reviews) NCUA Insured
APY 1.50%
Service Charge
Minimum to Earn $100
Minimum Deposit
AmeriCU
HSA Checking
2.3 (10 Reviews)
1.30%
$10k
$0
View
AmeriCU
HSA Checking
View
2.3 (10 Reviews) NCUA Insured
APY 1.30%
Service Charge
Minimum to Earn $10k
Minimum Deposit $0
Citizens State Bank (6194)
Health Savings Account
1.0 (1 Review)
1.17%
$10k
$0
View
Citizens State Bank (6194)
Health Savings Account
View
1.0 (1 Review) Member FDIC
APY 1.17%
Service Charge
Minimum to Earn $10k
Minimum Deposit $0
Hughes Federal Credit Union
Health Savings Account
2.6 (20 Reviews)
1.16%
$0
$0
View
Hughes Federal Credit Union
Health Savings Account
View
2.6 (20 Reviews) NCUA Insured
APY 1.16%
Service Charge
Minimum to Earn $0
Minimum Deposit $0
Connexus Credit Union
Health Savings Account
2.6 (68 Reviews)
1.01%
$15k
$0
View
Connexus Credit Union
Health Savings Account
View
2.6 (68 Reviews) NCUA Insured
APY 1.01%
Service Charge
Minimum to Earn $15k
Minimum Deposit $0
CoVantage Credit Union
HSA Account
2.8 (4 Reviews)
1.00%
$0
$0
View
CoVantage Credit Union
HSA Account
View
2.8 (4 Reviews) NCUA Insured
APY 1.00%
Service Charge $0
Minimum to Earn $0
Minimum Deposit
First Technology Federal Credit Union
HSA Checking
2.5 (33 Reviews)
1.00%
$0
$0
$10
View
First Technology Federal Credit Union
HSA Checking
View
2.5 (33 Reviews) NCUA Insured
APY 1.00%
Service Charge $0
Minimum to Earn $0
Minimum Deposit $10
The Adirondack Trust Company
Health Savings Account
2.6 (4 Reviews)
1.00%
$4
$1
$1
View
The Adirondack Trust Company
Health Savings Account
View
2.6 (4 Reviews) Member FDIC
APY 1.00%
Service Charge $4
Minimum to Earn $1
Minimum Deposit $1
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Health Savings Accounts

A health savings account (HSA) gives eligible individuals and families the opportunity to make tax-deductible contributions to savings at compounding interest rates while also reserving them the ability to pay for qualifying medical costs tax-free. All health savings accounts come with IRS-enforced eligibility requirements that include being covered by a high deductible health care plan (HDHP), not being enrolled in Medicare, and not being claimed as a dependent on someone else’s tax return.

Benefits of a Health Savings Account

For individuals and families who are unable to obtain health insurance plans with low deductibles, an HSA could be a helpful way to cover the increased out-of-pocket expenses (potentially) created by higher deductibles. Opening a health savings account could be a great financial planning strategy, as well. Because high-deductible health care plans usually come with the lowest monthly premiums available, you could save a sizable amount in premium costs each month and add them to your HSA.

HSA Tax Implications

As far as the tax implications go, every contribution you make to a health savings account (HSA limits allow up to $3,275 for an individual and $6,550 for a family in 2014) may be deducted from adjusted gross income on your tax return. Any contributions withdrawn before the age of 65, and for non-qualifying reasons, are taxable and must be reported as income. Also, any contributions made to the account in excess of the maximum amounts noted above cannot be deducted and will be included to gross income. Earnings from interest that accumulate on the funds in a health savings account are taxed-deferred and thus not included in gross income (unless used for non-medical, and thus non-qualifying, purposes).

Employer Health Plans

Many employers offer several health care options to their employees as a part of benefit packages. Some offer a high deductible health plan and include an offer to pay into a separate health savings account owned by the individual employee. A lot of employers are reluctant to do this, however, as the employee is able to take all contributions with them if they were to leave the company. Instead, employers offering a high deductible health plan option will contribute some amount into a health reimbursement account, which enables them to hang on to any contributions not used by the employee at the time he or she leaves the company.