Business Health Savings Accounts (HSA)

  • No annual fee.
  • No monthly maintenance fees.
  • Debit card with no annual fee.
  • No setup fee.
  • Funds federally insured up to $250,000.

A Health Savings Account (HSA), when coupled with a High Deductible Health Plan (HDHP), enables you to take control of your own healthcare and save money on insurance costs. It can also be used as a retirement vehicle. Contributions to your HSA are contributed pre-tax. They are also tax deductible and account earnings accumulate on a tax-deferred basis. Distributions from your HSA are tax-free if they are used for qualified medical expenses.

To get started, obtain a qualifying HDHP from your health plan administrator, then open a Health Savings Account at Elevations Credit Union.

Open a Health Savings Account (HSA)

Call us: 303.443.4672, 800.429.7626  |  Stop by a branch

You can use an HSA for:

  • Qualified Medical Expenses* (such as doctor visits, prescription drugs, hearing aids, non-cosmetic dental treatments).
  • COBRA Insurance.
  • Qualified long-term care insurance and expenses.
  • Funds may be used for eligible expenses for spouses or dependents, even if they are not covered by the HDHP.


  • HSA checking accounts earn dividends.
  • HSA debit card for easy access to your funds with no annual fee.
  • HSA Certificates are also available.
  • A minimum opening amount of $100 on Standard HSA Certificates makes it easy to start saving. Earn higher rates on Jumbo HSA Certificates that have a minimum opening amount of $100,000.
  • Contributions can be made by you, your employer, or both. However, the total contributions are limited annually by the Federal government. More information is available from the U.S. Treasury.
  • Designate or Change a Beneficiary on your HSA using Change Form 2603H (PDF).
  • Annual contribution limits can be viewed on the Internal Revenue Service website.

Health Savings Debit Card Terms & Conditions (PDF)
Health Savings Checking Account Terms & Conditions (PDF)

* See IRS Publication 502, page 5, for a more complete list of qualified medical expenses.

© Elevations Credit Union. All Rights Reserved. Routing# 307074580
This site is best viewed with a standards compliant browser.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency