Search Login Open Account Menu Home Health Savings Accounts (HSA) Health Savings Accounts (HSA) Overview Rates Calculator FAQ Open An Account Health Savings Accounts (HSA) Healthcare costs are rising. Stay in control with an HSA. Why open an HSA? With a Health Savings account, the money for your family’s healthcare is protected from taxes, both when you save it and when you spend it. An HSA not only helps you get a handle on medical expenses, but earns interest on balances that carry over from year to year. Your Spirit of Alaska HSA checking account will come with a customized debit card, a high point-of-sale limit, and no statement or maintenance fees. A tax-advantaged checking account to use for qualified healthcare costs Easily access funds with a customized debit card Qualified deposits (contributions) are tax-deductible Qualified spending (distributions) are tax-free The more you save, the more interest you earn with tiered rates. No statement or maintenance fees Qualifying to open an HSA Account Not everyone is eligible to open a Health Savings Account. First, take a look at your health insurance coverage. To contribute to an HSA, you must be covered under an HSA-eligible high deductible health plan (HDHP). Additionally: You cannot be covered by another health plan (with limited exceptions) You cannot be enrolled in Medicare Finally, you cannot be eligible to be claimed as a dependent on another person’s tax return If you are out on your own, and are enrolled in a high-deductible health care plan, an HSA can be a great way to meet your deductible tax-free and save for unexpected medical expenses. Additional Account Information Manage it in one place Simplify your life by managing your finances in one trusted and familiar credit union, while earning competitive interest on balances. Contribute what you need to cover medical expenses Contributions to the account may be made through: Deposits in person at any branch Setting up an ACH transaction Payroll deduction Requests to our operations department to transfer funds. Requests can be made by sending us a message through the online banking system. Tools for keeping records Account holders are responsible for keeping records and receipts for all medical expenses paid using their HSA account. To make this process as simple as possible, we provide several tools through online banking: e-Statements – view every statement generated for your account Records of your debit card transactions Electronic receipt records of contributions Account Access Limitations Spirit of Alaska’s Health Savings Account is a limited checking account product, with a debit card issued to access funds in the account. Due to the tax structure of the account, there are limitations to accessing your funds, which include: No paper check usage No transfers into the account through online banking No overdraft protection No Bill Pay checks issued from the account $5000 point-of-sale limit No ATM access to cash Check out the FAQ for more detailed information on our HSA account. Related Products & Services Debit Cards Retirement Accounts Education Savings Accounts Savings Accounts IRS Resources IRS Health Savings Accounts Publication IRS HSA Medical and Dental Expenses IRS Notice 2004-2 on Health Savings Accounts Learn with Banzai Health Savings Accounts Article Coach: Make the Most of your HSA or FSA Pay for Health Care Collection Other Resources Pricing Guide Reach Us Contact & Locations Member Service 907-459-5900 Toll Free Number 1-800-478-1949 Routing: 325272212 Blocked Vendors & Areas Lost or Stolen Card? Current Rates Sheet Protect Yourself from Fraud Property For Sale Safe Deposit Boxes Award-winning, innovative service for Interior Alaskans Follow us on Facebook Follow us on Twitter Follow our YouTube Channel NCUA Share Insurance Disclosures Privacy Statement Sitemap © Spirit of Alaska Federal Credit Union | NMLS #402231 Call: 907-459-5900 or 1-800-478-1949 Copyright © 2021 - All Rights Reserved. Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.