Health Savings Accounts (HSAs)

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What are HSAs?

HSAs are tax-friendly savings accounts that allow you to build a fund for future or current medical expenses that insurance may not cover. The best part is, the account is all yours and any unused funds may be used to supplement your retirement savings.

Who is Eligible?

Per IRS rules, if you are under the age of 65 and are covered by a qualified High Deductible Health Plan (HDHP) you may be eligible to open an account. However, if you are claimed as a dependent by another person or enrolled in Medicare, you are not eligible to participate.


  • Contributions are tax-deductible
  • Interest earned is tax-free
  • Funds may be rolled over each year
  • Funds can be accessed through an in-branch transaction, checks and/or a Visa HSA Debit Card
  • Withdrawals are tax-free when used for qualified medical expenses
  • Funds may be used to cover you, your spouse or dependent children

Contribution Limits and HDHP Requirements for 2019**

 Self-Only HDHP Coverage* Family HDHP Coverage
Annual Contribution Limit $3,500 $7,000
Catch-Up Contribution Limit
(for individuals 55 or older)
$1,000 $1,000
Required minimum annual HDHP deductible $1,350 $2,700
Required maximum annual HDHP out-of-pocket limit $6,750 $13,500

* For any individual, the maximum contribution is the lesser of the indexed amount or the deductible of the HDHP. Also, a minimum balance may be required to keep your account open.

** If you did not have an HSA qualified HDHP for the entire year, please consult your tax advisor for contribution limits.

Savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government, the National Credit Union Administration. 


If you have a dispute with Community Credit Union regarding your deposit or share account, you may contact us at 207.783.2096 and attempt to resolve the problem directly. If we fail to resolve the problem, please communicate the problem and resolution you are seeking to:

Maine Bureau of Financial Institutions
Consumer Outreach Program
36 State House Station
Augusta, ME 04333-0036

To file a complaint electronically, you may contact the Maine Bureau of Financial Institutions at

The Maine Bureau of Financial Institutions will acknowledge receipt of your complaint promptly and investigate your claim. You will be informed of the results of the investigation.