Invest in your health today & tomorrow
Take advantage of tax-free savings for qualified medical expenses now. Your future self will thank you!
Take advantage of tax-free savings for qualified medical expenses now. Your future self will thank you!
With an average daily balance of $100 or more
With an Alliant Health Savings Account, you, your employer, or someone on your behalf can deposit funds to pay for current or future medical expenses. Funds used for qualified medical expenses, including dividends, are tax-free7. Unused funds remain in the HSA year after year, earning tax-deferred dividends. Unlike a Flexible Spending Account (FSA), there's no "use it or lose it" provision in an HSA.
Once you are age 65 or become disabled, you can withdraw funds from your HSA for both medical and non-medical expenses (but the non-medical uses will be taxable at that time.)
HSA Guidelines for 2016
| HSA Contribution Limit | HDHP Minimum Deductible | HDHP Maximum Out-of-Pocket | HSA 55+ additional contribution amount | |
|---|---|---|---|---|
| Single | $3,350 | $1,300 | $6,550 | $1,000 |
|
Family |
$6,750 | $2,600 | $13,100 | $1,000 |
You may add HSA contributions for the 2016 tax year until April 15, 2017. If you use an HSA to pay for unqualified medical expenses in 2016, the tax penalty is 20% of the HSA distribution.
HSA Guidelines for 2017
| HSA Contribution Limit | HDHP Minimum Deductible | HDHP Maximum Out-of-Pocket | HSA 55+ additional contribution amount | |
|---|---|---|---|---|
| Single | $3,400 | $1,300 | $6,550 | $1,000 |
|
Family |
$6,750 | $2,600 | $13,100 | $1,000 |
Using HSA funds to pay for a non-qualified medical expense is taxable as income and subject to an additional 20 percent penalty by the IRS. To get a complete list of qualified medical expenses, download the IRS Medical and Dental Expenses (PDF) publication.
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View our full fee schedule.41
| HSA Checks | Free |
| HSA Custodian Check Issuance Fee | Free |
| HSA Excess Contribution Reimbursement | Free |
| HSA Set-up Fee | Free |
| HSA Monthly Maintenance Fee | Free |
| HSA Transaction Fee | Free |
| Visa® HSA Debit Card | Free |
| eStatements (electronic account statements) | Free |
| Paper Account Statement Fee (each) | $1 |
Yes. You may always use HSA funds to pay your qualified medical expenses, as well as the qualified medical expenses of your spouse and your dependents.
Yes. You can use the free Alliant Online Bill Pay to make a payment from your Alliant HSA for qualified medical expenses.
Mailing Address
Alliant Credit Union
Attn: IRA/HSA Dept.
P.O. Box 66945
Chicago, IL 60666-0945
Overnight Service
Alliant Credit Union
Attn: IRA/HSA Dept.
11545 W. Touhy Avenue
Chicago, IL 60666
773-462-2291
Check with your insurance provider or employer to ensure you are covered by a qualified HDHP.
If you wrote a check or used your HSA debit card for a non-qualified medical expense, or received reimbursement from your insurance company or physician for a medical bill already paid from your HSA, please use the Return of HSA Distribution form (pdf) to return the funds to your HSA and avoid tax penalties. Subject to IRS Guidelines.
Yes. However, you can complete this transaction one time only, for life. You can contribute funds from your IRA to your HSA, up to the IRS limit for your type of HDHP coverage.
No. Alliant HSA debit cards are not eligible for Apple Pay™ at this time.
Yes. Alliant HSA debit cards are eligible for both Android Pay and Samsung Pay mobile payment systems.
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