Plan ahead for medical expenses with a credit union HSA from Sharonview

Pre-tax or Tax-deductible contributions
Tax-free distributions for qualified expenses
Funds available immediately for medical expenses
A Health Savings Account lets you create a financial buffer to address unexpected or rising costs of healthcare. You can qualify to open an HSA if you're currently enrolled in a high-deductible health insurance plan (HDHP).

Health Savings Accounts are offered for individuals or families. Your savings will grow at a competitive rate while you enjoy certain tax advantages on your contributions or qualified medical expenses. Get easy access to funds whenever you need to pay a medical bill and you can manage your account online anytime.

Some additional features of a health savings account include: 

  • Funds are designated for qualified health and medical related expenses such as deductibles, doctor appointments, eye care, medicine and more. Please refer to the IRS Publication 502 for a list of approved expenses.
  • Spending untaxed funds on these medical expenses can lower the overall cost of healthcare for yourself, your spouse or dependent children.1
  • Funds in the HSA can carry over from one year to the next if they are not spent during the year. You may spend remaining HSA funds on qualified expenses even if you no longer have an HDHP, but you will not be able to make any further contributions.
Manage / Open / Contribute to Your HSA Open an HSA Contribute to an HSA

Sharonview Visa® Health Savings Account Debit Card

Sharonview HSA Debit Card

How to Set Up a Health Savings Account

Sharonview offers both Individual Health Savings Account as well as Family Health Savings Accounts for credit union members. 

Here’s how to get started:

  1. Click the Manage/Open/Contribute to your HSA link above. You’ll be taken to our third-party partner, Retirement Central.  
  2. Click Open an Account and select Health Savings Account (HSA) from the available options.
  3. Input the required information and click Next to continue with your enrollment. You will need your Social Security Number (SSN) and the SSN of any designated beneficiaries.

Your new HSA will be available for contributions within one (1) business day! 

How do I use or manage my Health Savings Account?

  • Manage your Sharonview HSA and make contributions through our Retirement Central portal. 
  • View your balance via Sharonview Online Banking or our mobile app. You will also receive balance updates on your monthly statement and annual summary.
  • You can set up automatic contributions with your payroll department to deposit a portion of your paycheck, pre-tax, into your HSA account.2   
  • A Sharonview HSA comes with a HSA Visa® Debit Card for ease of accessing funds. Use the debit card when paying for your office visit, medication, etc. It should be ran as a credit card transaction. 

More Questions About Health Savings Accounts?

For more questions and answers on a health savings account from Sharonview federal credit union, click the link below. 

HSA Frequently Asked Questions 

 

 

1. If you have questions about pre-tax contributions and/or tax implications, please refer to a tax professional for tax advice for your individual situation.
2. Please refer to your payroll department for information on setting up contributions to a Health Savings Account.

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