A white icon of a telescope with a heartbeat resembles a health savings account with ProFed.

HSA

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Secure Your Health Savings Account

Experience more care with less cost! A Health Savings Account (HSA) works in connection with High Deductible Health Plans (HDHPs) to help save for medical expenses. Distributions may be tax-free when used for qualified medical expenses, such as co-pays, prescriptions, and more. Unlike flexible spending accounts, your unused funds roll over year after year, so you don't lose what you've saved. If you are eligible for an HSA, open yours with ProFed today!

See Rates

Health Savings Account Rates

Health Savings Accounts** Dividend Rate (Compounded Monthly) APY* (Compounded Monthly)
Up to $999.999 0.05% 0.05%
$1,000 - $9,999.999 0.10% 0.10%
$10,000 and Over 0.25% 0.25%

Membership at ProFed is required. *APY = Annual Percentage Yield. **You must maintain a minimum daily balance of $125.00 to earn dividends.

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Our Hassle-Free Features Include:

  • No minimum balance, no enrollment or maintenance fees
  • Digital banking with transfers and payroll deduction
  • Check-writing flexibility
  • Visa® Debit card with fee-free ATM access
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You're Eligible For An HSA If:

  • Covered by a qualified High Deductible Health Plan (HDHP)
  • Not covered under a non-HDHP
  • Not enrolled in Medicare
  • Not eligible to be claimed as a dependent on another individual's tax return
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Benefits Of An HSA Include:

  • Tax savings & deferred
  • Can be used for long-term care
  • No penalty for withdrawals after 65+ (potential tax implications if the funds are used for non-qualified expenses)
  • Can be used on medical-related purchases