Health Savings Accounts (HSAs)

Take Advantage of Tax Benefits While You Save for Medical Expenses

A Health Savings Account (HSA) gives you more flexibility and control over your health care costs. If you have a high deductible health plan (in 2008 at least $1,100 for an individual, $2,200 for a family), your employer can make pre-tax contributions on your behalf. Any other contributions you make are tax deductible. You will enjoy these benefits once your account is started:

• Save against high or unexpected medical bills.
• High insurance policy deductibles mean lower premiums.
• Receive dividends that are free from federal taxes (all earnings are tax deferred).
• You may contribute at any time during the year and the balance of your HSA will roll over year to year.
• It is your account. If you change jobs, it goes where you go.
• No income limitations or restrictions.
• No age limit.

Easy Access

RCU’s HSA is a special dividend bearing checking account, so you will have access via checks and cash withdrawals. All distributions/withdrawals are tax free if they are used for qualified medical expenses.

Open An Account

To open an account, simply fill out the required forms below.

• HSA Application Packet (required)
• HSA Contribution Form
• HSA Direct Transfer Form
• HSA Rollover and Transfer Form
• HSA Beneficiary Designation/Changes Form

Submit completed forms at any branch or mail to:

Redwood Credit Union
P.O. Box 6104
Santa Rosa, CA 95406

You can also open an account by calling : (800) 479-7928 or by visiting an RCU branch.

Learn More

• Health Savings Account Frequently Asked Questions (FAQs)
• HSA Brochure “Helping Control Health Care Costs”
• Individual Retirement Accounts (IRA) Enjoy tax benefits as you save for the future.
• More RCU Savings Accounts

Rates

• View HSA dividend rates
• View all rates

Find out if you can benefit from an RCU health Savings Account. Contact us today: (800) 479-7928 or visit an RCU branch.