Meadows Credit Union Health Savings Account

If you are enrolled in a High Deductible Health Plan, consider opening an MCU Health Savings Account.

This account helps you save for qualified health care costs for you and your family, with tax advantages.

Opening your health savings account

To open a Health Savings Account, you must be covered under a high deductible health plan (HDHP). An HDHP generally has lower premiums than other types of health plans, but also has higher deductibles. Until your deductible is met, you must pay for all your medical expenses – except for preventative care, which is almost always covered.

You may use the money in your Health Savings Account to help pay for these or any other qualified medical expenses, for yourself, your spouse, or your dependent children.

Tax savings three ways*

  • Tax deductions when you contribute to your account

  • Tax-free earnings on dividends

  • Tax-free withdrawals for qualified expenses

Account balance is carried over

Unlike contributions to a flexible spending account, funds roll from year-to-year, so there’s no need to worry about using up the balance by year’s end. And your HSA goes where you go, regardless of any job changes.

MCU Health Savings Account features:

  • MCU Health Savings Debit MasterCard.
  • A competitive rate. Check today's rates >
  • Free online and mobile banking access.
  • Your money is safe and secure - backed by NCUA insurance up to $250,000.

  • To open a Meadows Credit Union Health Savings Account, please call us at 800-662-2772 and an MCU Financial Service Associate will be happy to assist you.

    *Please consult your tax adviser about the tax benefits of your Health Savings Account, including contributions, deductions, and qualified expenses.