Health Savings Accounts

A Tax Advantage To Offset Health Care Expenses

PLCU introduces Health Savings Accounts, or HSAs.  This new account is designed to help members or members and their families who are covered by a High Deductible Health Insurance Plan (HDHP) to take advantage of possible tax savings.  HSAs are IRA-like accounts that are designed to cover medical expenses incurred by the HSA account owner, the account owner’s spouse and his or her dependents.  HSA contributions are deductible and, if amounts are used for qualified medical expenses, distributions of basis and earnings are tax free.

What are HSAs' benefits?

HSAs can provide significant tax benefits to eligible individuals.  Not only can HSAs provide tax benefits related to paying qualified medical expenses, they may also provide benefits similar to many tax-favored retirement plans.

Check out our current dividend rates for the Health Savings Account.

For more information regarding PLCU’s Health Savings Accounts, please contact our Call Center at (858) 495-3400.  Frequently Asked Questions regarding HSAs can be found on the US Treasury’s website at http://www.treas.gov/offices/public-affairs/hsa/faq.shtml.