All Fox branches will be closed Monday, May 29, in honor of Memorial Day and everyone who gave everything for our country.
skip mobile nav
skip social channels
skip header skip main navigation skip dropdowns
Is a health savings account right for you?


Is a health savings account right for you?

Posted on by Fox Communities

Learn about the benefits of an HSA at Fox Communities Credit Union

A Health Savings Account (HSA) allows those with high deductible health plans to set aside money tax-free to pay for qualified medical expenses, like copays and deductibles, as well as items and procedures that may not be covered by your insurance – things like eyeglasses, hearing aids, and dental work. When you withdraw HSA funds to pay these qualified expenses, the withdrawals are tax-free, too. Plus, the interest or other earnings on your HSA are tax-free. For these reasons, HSAs are sometimes referred to as “triple tax-advantaged” accounts.


Who benefits most from an HSA?Health savings account with medical equipment

If you’re one of the millions of Americans who are generally healthy and never even come close to meeting their annual health insurance deductible, an HSA could be a great way for you to put away the cash you’ll need later in life when you’re not so healthy.

Some new and unexpected items your HSA can pay for

The CARES Act expanded the items eligible for HSA reimbursement and can include:

  • Over-the-counter medications
  • Menstrual products
  • Guide dogs
  • Travel for health care
  • Much more!

Fox Communities Credit Union offers HSAs for those who qualify. To find out if your insurance plan qualifies, check with your insurance provider, and then come speak with one of our HSA specialists!

Federally Insured by NCUA.

Leave a Comment


Any external site listed here is not operated or under the control of Fox Communities Credit Union (FCCU). By clicking on CONTINUE below, you will access a third-party site that is not operated by FCCU. FCCU is not responsible for the content of the third-party website. FCCU does not represent either you, or the website operator, if you enter into a transaction.

Please note that when you exit our site, our Privacy and security policy is no longer in effect. Privacy and security policies may differ from those practiced by FCCU and you should review the alternate websites' policies. You may cancel moving to the third party website by clicking on "X" to stay on



You are about to leave Fox Communities Credit Union's website. Any external site listed here is not under the control of Fox Communities Credit Union. Thank you for visiting. Please return when you need information about Fox Communities CU's products and services.