Health Savings Accounts
Save for medical expenses.
Open your Health Savings Account (HSA) to save for medical expenses, feel more secure, and get tax benefits.
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GO Federal Credit Union offers a full suite of financial services - just like bank.
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All profits are returned to members in the form of lower loan rates, higher savings rates, personalized service and convenient tools.
Health Savings Account (HSA)
With a Health Savings Account (HSA) from GO, you’ll save money on medical expenses while earning a healthy dividend. HSA are designed to help individuals with High-Deductible Health Plans* pay for current and future qualified healthcare costs on a tax-free basis.
Unused HSA funds may be rolled over form year to year, allowing you to grow your balance and cover larger medical expenses that may arise in the future. This account is portable, meaning you can take it with your regardless of the job changes.
- Open with a minimum deposit of $25
- No service fee
- No minimum balance required
- Access your account with VISA Debit Card, check, ACH, or teller transaction
- Earn annual dividends by maintaining an average daily balance of $100
- No fee for point of sale transaction
- Free first order of printed checks
- No transaction limitations (accountholder is responsible for compliance with IRS regulation)
- Monthly account statement
- Prompt annual reporting of account balance and any withdrawals
- GO membership required (Share Savings account with minimum deposit of $25)
Health Savings Account
Individuals who are not yet members of GO must also open a Share Savings Account (separate from the Health Savings Account) to establish their membership.
*2018 minimum HDHP deductible amounts: $1,350 for individuals and $2,700 for families. 2018 HSA contribution limits $3,450 for individuals, $4,450 age 55 and over, $6,850 for families, $7,850 age 55 and over.