RALEIGH, N.C. – Coastal Federal Credit Union is the latest credit union to offer Health Savings Accounts. 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. With a growing number of its members looking for alternatives to beat the rising costs of medical care, the credit union says the time was right to launch its HSA solution.
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