Health Savings

Health Savings Account (HSA)*

A health savings account (HSA)* is an exclusive tax-sheltered savings account that serves as a fund for current and future medical needs.

Users of these accounts can plan for unexpected health care expenses and easily pay for covered costs, such as medical appointment co-pays, prescriptions, prescribed OTC meds, dental or vision care, elective procedures, emergency treatment, long-term care services, and more. Those with a health savings account plan can easily use the balance in their HSA account to pay for qualified medical expenses above or beyond their insurance or deductible coverage.

AurGroup Credit Union offers a credit union HSA for members in the Cincinnati, OH, area. Enrollment in a qualified high-deductible health plan—not Medicare or non-HDHP plans—is required to be eligible for this account.

Why Use a Credit Union Health Savings Account?

At AurGroup, we understand why opening an HSA with a trusted credit union provides great financial and investment benefits. With a credit union health savings account, you can customize the exact amount of your savings and expenses for healthcare–related products and services.

Through regular contributions, you can grow your account balance beyond the monthly deposits made by yourself or your employer. The maximum account contribution limits for singles or families is specified by law.

The Advantage of HSA for Business Owners

As a business owner, you have enough to worry about. Attract and retain good employees by offering them an AurGroup Credit Union HSA plan—it’s a simple plan for you and them. Funds either roll over from year to year or can be withdrawn without penalty or tax on any unused balance. If you don’t end up spending account funds, the balance remains regardless of changes in employment or insurance coverage.

Remember, HSAs work in conjunction with high-deductible health insurance plans (HDHPs). Any contributions you or your employees make are tax-free. Dividends earned by the account are tax-free and qualified medical expense withdrawals are tax-free, too. Employers and employees alike benefit from this valuable peace of mind.

The AurGroup Difference

At AurGroup Credit Union, we include the services of insured funds, online banking, mobile banking, bill pay, e-Statements, and HSA Visa Debit Card access with our health savings accounts at no charge to you. Other notable benefits include competitive rates with no extra service fees or balance requirements. If you have any further questions about our credit union health savings account—or would like to take the next step—contact us via phone or e-mail today.

*Consult a tax advisor for your specific tax situation.