Health Savings Accounts

Looking for a great, tax-advantaged way to save for copays, prescriptions, long-term care, and other qualified medical expenses? A Health Savings Account (HSA) can help you put away money for current and future medical needs. For a complete list of qualifying medical expenses, go to www.irs.gov.

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All the Perks of a Vermont Federal HSA Account

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Contributions (deposits) may be tax deductible.

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Earnings are tax free.*

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Distributions (withdrawals) for qualified medical expenses are tax free.

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Your HSA is portable. So it stays with you even if you leave the work force or change jobs, employers, or your medical coverage.

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Your HSA funds roll over from year to year. So you don’t have to spend the money in your account every year like you do with a flexible savings account.

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Your account comes with a free Vermont Federal HSA Debit Card. You can use it to pay qualified expenses like copays and prescriptions.

You are eligible to open a Vermont Federal Health Savings Account if you are:

  • A Vermont Federal member covered by a high-deductible health plan (HDHP).
  • Not enrolled in Medicare.
  • Not eligible to be claimed as a dependent on another person’s tax return.
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