Health Savings Accounts

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If increases in medical expenses are taking up a larger share of your budget, an HSA may help you reduce those expenses.

We offer an HSA Checking Account with a free HSA Visa® Check Card. If you have a High Deductible Health Plan, you can use your HSA Checking Account whenever you need to pay for qualifying medical expenses. You’ll enjoy earning daily dividends on your account, no monthly service charges, no minimum balance requirements, and no per check fees. Plus, your first box of checks are free.

Featured Rates


HSA Checking .05%
Annual Percentage Yield

The cost to provide healthcare coverage to your employees is becoming less affordable every year. Like many companies, you need to control spending to stay competitive but rising health care expenses are impacting your profits. A High Deductible Health Plan (HDHP) paired with a Health Savings Account (HSA) is an increasingly popular option for business owners. It allows you to manage insurance costs while providing health benefits that attract and retain a qualified workforce.

Switching to an HDHP can help you reduce the amount of money you spend on health insurance premiums for your employees. An HDHP is an alternative form of health insurance where plan holders pay lower premiums in exchange for a higher deductible.

In return, you can pass on some of that savings to your employees by contributing to their HSA. A Health Savings Account (HSA) is an account to help your employees pay for qualified medical expenses not covered by their insurance plan. HVFCU can provide your employees with an HSA Checking Account and free HSA Visa® Check Card. Employees can use this HSA Checking Account to pay for qualifying medical expenses.

HSA contributions can be funded by the employee, the employer, or both. As an employer, you aren’t required to make a contribution to your employees’ HSA, however, any payments you make are tax deductible. Some firms wait until the end of the fiscal year, making contributions to employees’ HSAs to reduce taxable income. A company with 15 employees may save 40% over a traditional policy if they make the maximum contribution.

Type of Coverage Minimum Annual Deductible Maximum Annual Out-of-Pocket
Private / Exchange
Individual 2014: $1,250
2015: $1,300
2014: $6,350 (Private) / NA (Exchange)
2015: $6,450 (Private) / $6,600 (Exchange)
Family 2014: $2,500
2015: $2,600
2014: $12,700 (Private) / NA (Exchange)
2015: $12,900 (Private) / $13,200 (Exchange)


Contact our Business Development Officers, Charles Walwyn or Vince D’Ambroso for more information on how the credit union can help you reduce your insurance premiums. You can reach Charles by phone at 845.702.8945 or email at [email protected]. You can reach Vince by phone at 845.406.1769 or email at [email protected].

HSA Employer Benefit Calculator

Health Savings Accounts (HSA) Employer Benefit
This calculator helps estimate the value of creating a High Deductible Health Plan (HDHP) with Health Savings Accounts (HSA) for your employees. Providing such a plan not only gives your employees a valuable benefit, it can be a cost saving measure for your business. Use this calculator to estimate your net cost of setting up your HDHP and HSA plans.


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PO Box 1071, Poughkeepsie, NY 12602-1071
ph: 845.463.3011 / 800.468.3011

Routing Number : 221979363
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