The solution to saving for healthcare costs

Health Savings Accounts

Health Savings Accounts

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An RCU Health Savings Account (HSA) provides flexibility and control over you and your family’s health care costs. HSA accounts are available to individuals who are covered under a high-deductible health plan (HDHP). Contributions are tax-deductible and can be used to pay for qualifying medical expenses such as co-payments, treatments, prescriptions, and more.


  • Health Savings Accounts (HSAs) allow your employer to make pre-tax contributions on your behalf
  • Your own HSA contributions are tax deductible, allowing you to save on medical expenses
  • Distributions may be tax-free when used for qualifying expenses
  • Funds carry over year after year, no "use it or lose it" provision
  • Use your RCU HSA Visa® debit cards to pay for qualifying medical expenses. Widely accepted with most health care providers
  • You can also use your HSA account to pay for healthcare with checks

2021 HSA Contribution Limits (can vary year to year):

  • Single Coverage: $3,550
  • Family Coverage: $7,100
  • Catch-Up Contributions: $1,000

Want to know about HSA contribution limits?


  • You must be eligible to participate in an HSA
  • You must maintain an RCU membership to be eligible

Do you have questions about high-deductible health plans (HDHPs)?

Apply for your RCU HSA Account today!

Apply now

Health Savings Accounts (HSA)

*You may bring all completed forms into any RCU branch or mail it to the following address:
Redwood Credit Union
Attn: HSA Department
P.O. Box 6104
Santa Rosa, CA 95406


Health Savings Account (HSA)

Flexible Spending Account (FSA)

Owned by



Health Insurance

Must be covered by a High Deductible Health Plan (HDHP)


Maximum Annual Contribution

Yes, as established by the IRS

Yes, limited to the lesser of amount established by IRS or Employer

Tax Advantages

Yes, on contributions, earnings and distributions for qualified medical expenses

Yes, on contributions made via payroll deduction

Carryover of Funds Yes, funds can carryover year after year No, the funds are a "use it or lose it"
Account Options

Savings or checking


Access to funds

Use your debit card or Bill Pay or write checks to pay for qualified medical expenses


Monthly Fees

View Fee


Minimum Balance to avoid fees



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If you're interested in opening a Business, Trust, or other type of account, please visit your nearest branch.

Redwood Credit Union serves anyone living, working or owning a business in California’s Northern Bay Area, which includes the counties of Sonoma, Marin, Napa, Mendocino, Lake, San Francisco, Contra Costa and Solano. We look forward to serving you!

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If you're interested in opening a Business, Trust, or other type of account, please visit your nearest branch.

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