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Health Savings Account. Father and daughter adding money to a piggy bank.

Even with a good, high-deductible health care plan, out-of-pocket medical expenses can be costly. A CFE Health Savings Account (HSA) is a unique savings account that allows you to save for future medical expenses with government-backed special tax savings1.

Who can have an HSA?
  • Possess coverage under the HSA-qualified high-deductible health care plan
  • Have no other first-dollar medical coverage (specific injury insurance and accident, disability, dental care, vision care, or long-term care insurance are permitted)
  • Not enrolled in Medicare
  • Cannot be claimed as a dependent on someone else's tax return

Savings

Type Min Balance To Earn APY Annual Percentage Yield (APY) Annual Dividend Rate (ADR)
Share (Savings) $50 0.15% 0.15%
Holiday, Summer and Fun Share (Savings) $50 0.15% 0.15%
IRA Savings Account No Minimum 0.40% 0.40%
Health Savings Accounts $50 0.40% 0.40%



What To Expect 

To open a CFE Health Savings Account, you will need to have established CFE membership with a CFE Share Savings Account in good standing. Members are then able to apply to open a Health Savings Account in person at any CFE branch, by calling our Contact Center, or online. For more information on the benefits of Health Savings Accounts, please visit the U.S. Department of Treasury.

 


Learn more about saving for future expenses with CFE.

Savings Accounts

1Please consult a tax professional for more detailed information on HSAs.

 


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