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Health savings accounts

Everence Federal Credit Union health savings accounts (HSAs), administered by Everence Insurance Company, are designed to help you save and pay for qualified medical expenses. You can make tax-deductible contributions and withdraw money tax-free to pay for medical expenses. Your earnings are never taxed as long as you use the money in your account for qualified medical expenses. And, there’s no “use it or lose it” rule – the money in your account carries over from year to year.


With an Everence Federal Credit Union HSA, you have access to exciting options, such as:

  • An HSA share account,
  • An HSA debit card and/or checks,
  • HSA investment and share certificate opportunities, and
  • Full online account access.

Finding the information you need to manage your account is easy with our HSA forms and documents page. You may also contact a service representative at (800) 348-7468, ext. 2460, or to request any HSA-related forms and documents.

Opening an Everence Federal Credit Union HSA

Interested in opening an Everence Federal Credit Union HSA? Visit your local Everence Federal Credit Union branch office or call Everence Insurance Company at (800) 348-7468, ext. 2460. You may also download a copy of our Everence Federal Credit Union Membership and HSA Application from the HSA forms and documents page.

Annual HSA administration fees apply and are listed in our fee schedule.

HSA contributions

Here’s how to make tax-deductible HSA contributions:

  • Contribute directly to your HSA using after-tax dollars, and report your contributions when you file your taxes.
  • Make contributions to your HSA through a Section 125 plan (if your employer offers it), using pretax dollars.

The type of coverage (individual or family) you have under your qualified high-deductible health plan determines how much you may contribute to your HSA. HSA maximum contribution levels are adjusted each year. Visit the health savings account section of the Internal Revenue Service’s Web site for this year’s contribution limits.

HSA distributions and eligible expenses

To withdraw funds for qualified medical expenses from your Everence Federal Credit Union HSA, use your HSA debit card, your HSA checks, or submit a distribution request. Qualified medical expenses are the amounts you pay for certain types of medical care** for yourself, your spouse, and your dependents – to the extent such amounts are not covered by insurance or otherwise reimbursed.

HSA eligibility

To determine if you’re eligible to open an HSA, you need to talk to your tax advisor. In general, you are eligible to open and contribute to an HSA if:

  • You are covered under a qualified high-deductible health plan.
  • You are not covered under another, non-qualified high-deductible health plan.
  • You or your spouse are not participating in any other health expense reimbursement plan that isn’t coordinated with HSA rules.
  • You are not enrolled in Medicare Part A or B.
  • You are not eligible to be claimed as a dependent on another person’s tax return.

Need extra help to determine if you’re eligible? Visit the HSA forms and documents page for an eligibility worksheet.

**Qualified medical expenses are defined by the Internal Revenue Code (IRC) section 213(d).