TULLAHOMA, Tenn. -- Ascend Federal Credit Union is hoping to be the credit union that its members turn to for Health Savings Accounts.
Effective March 1, Ascend FCU will offer members HSAs with no service charge and no minimum balance. Members will be able to access their funds via special checks and an HSA check card.
HSAs are tax-free portable 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.