HSA Rules

HSA Rules and Convenient Forms

If you are enrolled in a qualified, high-deductible health care plan, then you are eligible for a Northern FCU Health Savings Account.

With a Northern Health Savings Account, both you and your employer may contribute funds to your account up to the maximum yearly contribution. The total combined contribution allowed in 2011 is a maximum of $3,050 on an individual policy or $6,150 for a family. In addition, you can make a catch-up contribution of $1,000 if you are over 55.

In 2012, the total combined contribution allowed is a maximum of $3,100 on an individual policy or $6,250 for a family. In addition, you can make a catch-up contribution of $1,000 if you are over 55.

Contributions are made with pre-tax dollars and you may earn a tax deduction.*

Worried about changing jobs? Don't! Your Northern HSA is completely portable. Even if you change jobs, as long as you have a high deductible health plan, you can continue to contribute to your Northern HSA.

Applying for an HSA with Northern is easy. Just click here to review and fill our secure online forms, or print them out and send them to us when complete. If you have additional questions, feel free to call us at your convenience at (315) 782-0155 or (866) 310-6328.

Hurry! Sign up for a Northern Health Saving Account today and start saving!

*Consult your tax advisor.

Northern FCU Health Savings Accounts offer many convenient rewards, including:

Direct Access to Your Funds:

With a Northern HSA, you can check your account balance and your transactions for the last 60 days online from anywhere!

Tax-Advanced Contributions:

Any contribution you or your employer makes to your HSA is tax-free for individuals. In addition, all contributions are considered pre-tax in an employer-provided plan.

Use Your Visa Debit or Check to Pay!

To pay your medical expenses directly, use your VISA Debit Card or simply write a check. We'll pull the funds from your HSA, and you can pay your health care provider directly.

Earn interest on your account:

All balances in your Northern Health Savings Account earn interest! You can invest your money into an HSA with great interest rates.

Easy savings, simple access:

Best of all, a Northern Health Savings Account makes it easy to save and simple to know the facts about your account. You can make deposits whenever you want by mail or you can set up automatic deposits straight from your regular checking or savings. You can access your statements online or we can mail you a monthly statement that shows all deposits and disbursements. Every year, we'll provide proper IRS forms to document all activity with your Northern Health Savings Account.