Health Savings Account
The CARES Act (Coronavirus Aid, Relief and Economic Security Act) contains important provisions that affect HSA (Health Savings Accounts) contribution deadlines and coverage of qualified medical expenses. Click below to learn more.
Featured Rate
0.50%APY*
*APY = Annual Percentage Yield. Dividend Rates and Annual Percentage Yield (APY), effective 7/1/2020, are subject to change at any time. Featured rate is for a Health Savings Account, balances over $2500.[ + ] CARES Act Impact to HSA
Extended HSA Contribution Deadline
- The CARES Act legislation extends the carryback-contribution deadline for tax year 2019 to July 15, 2020.
- You are able to open and contribute to HSAs until this date.
The CARES Act contains important updates on the use of HSAs. These changes have expanded to additional qualified medical expenses and access to remote care.
Telehealth services
- High-deductible health plans (HDHPs) with an HSA may* provide pre-deductible coverage for telehealth and other remote care services. This provision will last until December 31, 2021 (plan year must begin prior to this date).
Certain over-the-counter (OTC) drugs and medications as qualified medical expenses
- The CARES Act restores the ability to use HSAs, FSAs, and HRAs to purchase certain OTC drugs and medications, like aspirin and other pain medications, allergy medication, etc., that do not require a doctor’s prescription.
A Tech CU Health Savings Account (HSA) is designed to help you save for qualified medical expenses. We offer both Single and Family HSA accounts to help you save for current and future health care needs.
Tech CU's Single and Family Health Savings Account offers a tax advantage** to help offset rising health care expenses. Save money for out-of-pocket medical expenses like doctor visits, dental and vision care and prescriptions. Since there is no time limit on when to spend your HSA funds, any unused balance carries over from one year to the next. These funds never expire.
With our free Bill Pay for HSAs, you can manage your HSA and medical bills from your home computer:
- Make one-time payments for bills with fluctuating payment amounts
- Transfer funds between your HSA and other Tech CU Accounts
- View your payment history online or download it onto a spreadsheet
In order to take advantage of a Tech CU HSA, you must first have HSA-eligible health insurance.
Learn more about HSA.
EFFECTIVE DATE: 7/1/2020
Health Savings Account
| Tiers |
Dividend Rate* |
Annual Percentage Yield* |
| $0.01 to $2,500 |
0.399% |
0.40% |
| $2,500.01 and above |
0.499% |
0.50% |
Did you know you can grow your savings with a Tech CU HSA?
Earn 0.50% APY* on the first $2,500 contributed. Enjoy other convenient features including:
- $0.00 minimum opening balance
- Debit Card access
HSA Service Charges and Fees***
| Fee Type |
Amount |
| Monthly Maintenance Fee |
$2; waived for first 6 months. After 6 months maintain an average monthly balance of $100 to avoid a fee. |
| Visa Debit Card Replacement Fee |
$5 per Card when a Card Replacement request
exceeds two in a 12-month period. |
| Account Adjustment Fee |
$20 per each occurrence |
| Outgoing Transfer Fee |
$20 |
| Personalized Checks |
Available upon request. Standard printing charges apply. |