Acadia Health Savings Accounts (HSA)
Are you suffering from a high-deductible health plan? Choose from Acadia's three types of HSAs (Health Savings Accounts) and get help paying for prescriptions, co-pays, and other medical expenses.
- Save money tax-free for medical expenses
- Supplement high deductible health insurance
- Afford the best care for your family
What would you like to do?
Rates & Fees
Savings Account Rates
| Account Type | Dividend Rate | APY* |
|---|---|---|
| Prime Share Savings | 0.25% | 0.25% |
| Custom Select Savings | 0.25% | 0.25% |
| Monty Moose | 0.25% | 0.25% |
| Christmas Club | 0.25% | 0.25% |
| Super Saver | 0.40% | 0.40% |
| Health Savings - Traditional | 0.25% | 0.25% |
| Health Savings - Super Saver | 0.35% | 0.35% |
*APY = Annual Percentage Yield. All rates are subject to change without notice.
†When qualification requirements are met
More Info
To open any type of HSA with us, you’ll need to be on a high deductible health plan (HDHP). These are the deductible requirements:
Single – no less than $1,300
Family – no less than $2,600
These are the 2017 HSA Contribution Limits:
Single – $3,400 (over 55 and over $1,000 catch up, $4,400).
Family – $6,750 (over 55 and over $1,000 catch up $7,750).
An HSA can grow tax-free. But if your money is being added directly through a payroll, it may already be taxed. In that case, you may want to try filing a claim for it on your annual taxes.
There are three types of HSA Accounts.
HSA Checking Account: This account earns .10% dividends. You’ll need to have this as your primary HSA, even if you choose to open a club or a CD. This account is what you use to pay the bills for qualified medical expenses, and it includes a debit card so you can do so conveniently.
HSA Club Account: This account earns .25% dividends. If you’re healthy and don’t use your HSA funds often, you may want to move most of them to your HSA Club Account, so you can earn more in dividends. Contact us and we can help you transfer the funds.
HSA Certificate of Deposit (CD): This account earns the highest rate of dividends. It’s ideal for members who have several thousands of dollars in their HSA accounts and feel safe setting some aside in a CD. Remember, if you withdraw money invested in a CD before the maturity date, you’ll have to pay a penalty.
Only authorized signers can be on these accounts, NOT joint owners or beneficiaries.
Frequently Asked Questions
-
What is an HDHP?
This acronym stands for High Deductible Health Plan.
-
What are considered qualified medical expenses in an HSA?
Your qualified medical expenses are the amounts you pay for certain types of medical care for yourself, your spouse, and your dependents, but only to the extent such amounts are not covered by insurance or otherwise reimbursed. You can pay the medical expenses of your spouse or dependent even if that person is covered by a health plan that is not an HDHP or if that person also has an HSA.
-
What happens to my HSA after death?
You may designate one or more beneficiaries to receive the balance of your HSA after your death. If you do not designate a beneficiary, or if none of the beneficiaries you designate are alive on the day after your death, then your HSA will be paid to your surviving spouse. If you have no spouse, then the balance will go to your children, or if you have no children, to your estate.
-
What can I use the money in my HSA for?
The money in your HSA can be distributed tax-free up to the amount of the qualified medical expenses that you pay. Qualified medical expenses are amounts you pay for certain types of medical care for yourself, your spouse, and your dependents, but only to the extent such amounts are not covered by insurance or another health plan.
You have many options. Not only can you pay for your health insurance deductible from your Health Savings Account, but can use it for doctor visits, prescriptions, and over-the-counter drugs, dental care, eyeglasses, chiropractic services, and much more. Complete information on eligible expenses is available at www.irs.gov (search for “Publication 502”). You are responsible for determining whether a cost is a qualified medical expense.
-
What are my responsibilities regarding my HSA?
You’re responsible for making sure that the contributions you make to your HSA do not exceed your contribution limits. You’ll need to make sure the distributions you receive from your HSA do not exceed the qualified medical expenses that you pay for yourself, your spouse, and your dependents. You’re also responsible for maintaining records to prove to the IRS that your HSA contributions and distributions do not exceed applicable limits.
-
Can I use Acadia’s mobile and online Bill Pay with my Acadia HSA?
Yes. You can use the free Acadia Online Bill Pay to make a payment from your Acadia HSA for qualified medical expenses.
-
Can I rollover funds from my traditional or Roth IRA to my HSA?
Yes. However, you can complete this transaction one time only, for life. You can contribute funds from your IRA to your HSA, up to the IRS limit for your type of coverage.
-
Can I use my Acadia HSA debit card with Android Pay, Apple Pay, or Samsung Pay to pay for prescriptions?
Yes! Acadia HSA debit cards are eligible for Android Pay, Apple Pay, and Samsung Pay mobile payment systems.
-
Can my HSA funds pay for the medical expenses of my spouse and dependents if they’re not covered?
Yes. You may always use HSA funds to pay your qualified medical expenses and those of your spouse and dependents.
Need help? Send us a message.
Acadia always gives wonderful service with professionalism and a smile! Rachel S., member since 2003