If your employer offers a high deductible health plan, a Home Federal Health Savings Account (HSA) may be a great way to save for qualified medical expenses while taking advantage of certain tax benefits. You own and control the money in your HSA account, which enables you to pay for current health expenses while saving for additional qualified medical expenses on a tax-free basis.
You are eligible for a Health Savings Account if:
- You are covered under a high deductible health plan (HDHP).
- You have no other health coverage. (restrictions may apply)
- You aren’t enrolled in Medicare.
- You can’t be claimed as a dependent on someone else’s prior-year tax return.
Health Savings Account funds can be used towards any qualified medical or dental expense, such as:
- Acupuncture & Chiropractic Care
- Birth Control & Pregnancy Tests
- Braces & Dental Exams
- Eye Exams & Eyeglasses
- Hearing Aids
- Insurance Premiums & Hospital Services
- Prescription Medications
Access is easy with a free Home Federal HSA debit card. Use your HSA debit card at any Home Federal, Kwik Trip, or Kwik Star ATM. With a Home Federal HSA, you get:
- Free Home Federal HSA debit card
- Free online & mobile banking
- Free e-Statements
- Free standard Bill Pay service
- Free notary service
- Plus, no monthly service fee!