Offering HSAs Nothing to be Afraid of--Early Adopter CUs Seeing Success
WEST PALM BEACH, Fla. -- When it comes to offering health savings accounts many say credit union size does not matter.
Touted as the next big thing since IRAs, HSAs are tax-free savings accounts that can be used to pay for medical expenses including prescription and over-the-counter drugs incurred by individuals, spouses or dependents. These accounts are accompanied by high-deductible comprehensive insurance policies that cover preventive care and larger medical bills. Unused HSA money rolls over from year to year and can then be used to pay for medical care up to the plan's deductible.