Health Savings Accounts
Your HSA card is contactless! You can now "tap" your card on all terminals that allow contactless payments.
Be sure to update any pre-authorized or recurring payments and other accounts linked to your current card.
Still need to activate your new card?
Call 1-800-631-3197 to activate your new card. Stay on the line to set your PIN.
Use your Health Savings Account for doctor visits, prescriptions, dental check-ups and more.
You work hard to earn your money. Make your money work harder for you. An HSA helps you save money now - and in the future. Let's break it down:
Here's how an HSA works
- Sign up for a high-deductible health plan through your employer.
- You contribute to your HSA with pre-tax dollars. You'll decide how much through your employer, but just know the government sets up guidelines for maximum contributions. You can view limits here.
- Pay for medical expenses with pre-tax dollars.
- You can use those funds to pay for nearly any medical related expense. It's as easy as swiping your HSA card!
- You can use your HSA as a savings vehicle for years to come, including supplementing your retirement. That's especially helpful when health care costs typically rise. Feel better knowing you'll have a head start to pay for those medical expenses.
It's your money. Period.
- Any money in your account is carried over year after year.
- HSA funds accrue dividends (tax-free!) and are paid quarterly. Currently the dividend rate is .15% APY*.
- You own the account - forever. Even if you leave your employer, the money is yours.
- After age 65, you can use the funds for non-medical expenses without penalty.
Managing your HSA
Once you sign up and your account is approved, you'll get a card in the mail.
After you put money in your account, use those funds for eligible HSA expenses. Doctor's visits, vision and dental expenses, and more. See the complete list of HSA approved expenses here.
You can increase or decrease your contribution through your employer. If you want to give your HSA a boost, simply transfer money into the account online or through the mobile app.
More details about your Health Savings Account in Omaha, NE
- There's no minimum balance to open an HSA
- You'll earn tax-free dividends on your balance
- Balances up to $250,000 are insured by NCUA
Employers: To enroll an employee group, contact us at 402.697.8200 or info@mutualfirst.com
*APY = Annual Percentage Yield. APY is accurate as of 1/9/2023. Rates are variable and may change after the account is opened. Fees may reduce earnings. Minimum deposit to open a share account is $5.00. Health Savings Accounts have an annual fee of $25.00, charged on July 31 of each calendar year. Your employer may opt to pay the annual account fee. The following open accounts with the credit union will waive the HSA $25.00 annual fee: Kasasa Checking account, a first mortgage loan or a new or used auto loan with a balance of $10,000.00 or more when annual fee is charged.
Please consult your employer and/or tax professional for complete details on pretax contributions, tax-free gains and tax-free withdrawals. Your Mutual 1st Federal membership is established by a primary share savings account with a $5.00 minimum balance and a Health Savings Account may be opened thereafter. Rates may change after the account is opened.
