This page uses JavaScript. Your browser either does not support JavaScript or you have it turned off. To see this page properly please use a JavaScript enabled browser.
Acknowledge

Matadors Community Credit Union may collect the following information from users of our website. To see how this information is used, click here to go to our privacy page. Information we may collect: IP address, browsing history, search history, products and services considered, geolocation data, and information about your interaction with our website, application or advertisement. If you complete an online form, we may also collect your name, e-mail address, physical address or phone number that you provide to us.

 Matadors Community CU Go to main content
Lock ONLINE BANKING LOGIN
Lock ONLINE BANKING LOGIN
Health Savings Accounts

Health Savings Accounts

What is a Health Savings Account ("HSA")?

A Health Savings Account is an alternative to traditional health insurance; it is a savings product that offers a different way for consumers to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis.

Eligibility

To make contributions to an HSA the account owner must meet all of the following requirements:

  • Must be covered under a High Deductible Health Plan (HDHP)1
  • Is not covered by any other health plan that is not a HDHP
  • Is not enrolled in Medicare
  • Is not actively using a Flexible Spending Account (FSA)
  • Cannot be claimed as a dependent on another person's tax return
  • Is less than 65 years old. Individuals may not make regular contributions to an HSA in or after the tax year they reach age 65.

The account owner is responsible for determining eligibility. Please consult your tax advisor.

Account Features

  • $100 minimum balance to open and earn dividends
  • No set-up or annual fees
  • Low $3 monthly fee
  • Checks available
  • Unlimited check writing
  • Free MasterMoney Debit Card
  • Free Online and Mobile Banking
  • Monthly statement

VIEW HSA RATES

Open Your HSA Account

If you would like to open your HSA Account or get more information, please contact us at (818) 993-6328 and speak to a Member Service Representative.

1 All limits shown are for 2020. A HDHP is a medical insurance plan with a deductible of at least $1,400 for single coverage (account owner only) with a maximum out-of-pocket cap of $6,900; or a deductible of at least $2,800 for family coverage with a maximum out-of-pocket cap of $13,800. Contribution limits for HSAs are $3,550 for individual coverage and $7,100 for family coverage. If you are age 55 or older, you may make catch-up contributions of $1,000 per year. You must meet your deductible before the insurance policy provides coverage except for preventative care. Disclaimer: Our intent is for this information to be correct and accurate; however, the information is provided "as is" without warranty of any kind, either expressed or implied.

Go to main navigation