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

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All the Perks of a Vermont Federal HSA Account

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Your account comes with access to a Vermont Federal HSA Debit Card and/or checks. You can use either to pay qualified expenses like copays and prescriptions.

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Contributions (deposits) may be tax deductible.

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


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


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.

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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