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Maximize Your Health Savings with HSA Accounts at NCACU 

At NCACU, we understand the importance of managing your financial and health needs. That’s why we offer Health Savings Accounts (HSAs) – an excellent product designed to supplement your health insurance while providing financial benefits. 

What is an HSA? 

A Health Savings Account (HSA) is a tax-advantaged account created for individuals enrolled in high-deductible health plans (HDHPs). It allows you to save for medical expenses while earning interest on your deposits. The funds in an HSA can be used to pay for qualified medical expenses, offering a flexible and efficient way to manage healthcare costs. 

Benefits of an HSA with NCACU: 

  • No Fees: Our HSA accounts have no maintenance fees, allowing your savings to grow uninterrupted. 
  • Interest Earning: Unlike many accounts, HSAs at NCACU earn interest (.50% APY*), helping your savings accumulate over time. 
  • Tax Advantages: Contributions to your HSA are tax-deductible, the earnings grow tax-free, and withdrawals for qualified medical expenses are not taxed. 
  • Supplement to Health Insurance: HSAs complement high-deductible health plans, offering a way to save and pay for medical expenses that insurance may not cover. 

What Can HSA Funds Cover? 

Your HSA covers a wide range of medical expenses. Here’s a list of everyday items: 

  • Prescription Medications: Most prescription drugs, including over-the-counter medications, are with a doctor’s prescription. 
  • Medical Services: Deductibles, copayments, and coinsurance for medical, dental, and vision care. 
  • Preventive Care: Regular health screenings and preventive services. 
  • Mental Health Services: Including therapy and counseling. 
  • Medical Equipment: Such as crutches, wheelchairs, and hearing aids. 
  • Dental and Vision Expenses: Including exams, glasses, contacts, and dental work. 
  • Chiropractic Services: Treatment and adjustments. 
  • Laboratory Fees: Diagnostic services and lab work. 

An HSA with NCACU isn’t just a savings account; it’s a smart financial strategy to effectively manage your health care costs while benefiting from tax advantages. As a supplement to your health insurance, it provides a flexible and practical solution for healthcare spending. 

For more information on how to benefit from an HSA, please visit our website or contact us directly. Our team is dedicated to helping you make informed financial decisions for a healthier future.