Health Savings Accounts

Health Savings Accounts

Health Savings Account

Pay for doctor visits, prescriptions, dental check-ups and more with pre-tax (or tax deductible) dollars.

What is an HSA?

A Health Savings Account (HSA) is a special tax-free account created exclusively for the benefit of those covered under a high-deductible health plan (HDHP). The funds in an HSA are used towards qualified medical expenses, and an HSA has the unique potential to offer triple tax savings. HSA is portable meaning you can keep it if you change jobs, medical coverage carriers (usage of the account will be limited when your health care coverage is no longer a HDHP) or become unemployed, etc.

• Pre-tax or tax-deductible contributions
• Tax-free dividends (interest) earned
• Tax-free distributions when used for qualified medical expenses
• Contributions remain in the account until you use them

Who is eligible to open an HSA?

To open a Health Savings Account, you must be enrolled in a High Deductible Health Plan (HDHP). A HDHP satisfies specific federal requirements related to deductibles and out-of-pocket expenses. Consult your company's Benefits Administrator or Human Resources Department to determine if you are covered by a HDHP.

If you are enrolled in a HDHP — either through your employer or one you've purchased on your own — chances are you are eligible to open an HSA. However:

• You must have a valid Social Security Number and be primary residence in the U.S.
• You can not be claimed as a dependent on another person's tax return (unless spouse).
• You can not be covered by any other type of health plan, including Medicare.

What can HSA funds pay for?

The tax-free dollars you save in an HSA can only be used to pay for IRS-qualified medical expenses. These include:

• Medical expenses before and after you meet your health plan deductible
• Dental care services
• Vision care services
• Prescription services
• Over-the-counter medications prescribed by your doctor
• Certain medical equipment

Ready to open your HSA account?
Stop by your local branch

Call our membership department


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Health Savings Accounts

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Cinfed offers HSAs for qualifying members. You can invest your HSA funds into a dividend bearing checking account or certificate.


Cinfed Credit Union
4801 Kennedy Avenue
Cincinnati, OH 45209
(513) 333-3800
Routing #242076656


They always go above and beyond at the Oakley branch and truly care about each of their members. And, I absolutely love their kids' membership program. It makes it fun for them to learn about money... 
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Been a member since I moved to the Queen City in 1978. Cinfed has always provided customer service that other financial institutions only dream about. Thank you for almost forty years of outstanding... 
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I recently became a member here at CINFED and it was the best decision I have ever made. I walked in with tears and despair and left with dry eyes, a smile, and I even received a hug from the branch... 
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Earlier this year my much younger sister passed away and with that many obligations were to be met by my husband and myself ..My sister was survived by a daughter and son. We have since then taken on... 
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How lucky I am to have Liz Frey managing the office I use! I live in Florida but maintain Cinfed as my main banking office. Everytime I need special help a simple email or call to Liz and it is... 
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Emily Snyder took the best care of my two auto loans. She was professional, courteous and very knowledgeable of the available services for me. She went out of her way to make sure I felt like I was... 
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I have been member with Cinfed since 1986. The Roselawn Cinfed staff greeted the customer phone calls friendly and polite willing to help you with your needs. They have excellent customer service.... 
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I have been a member of CINFED since about 1981 when I was transferred from SLC, Utah with the US Army Recruiting Command and have always received excellent service and support . Hope Dee Dee is... 
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I have been a member at the Roselawn Branch for a long time and I couldn't be more satisfied with the customer service. No matter how often I come in with a question or issue and no matter what... 
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I been a member since 1985 and can not imagine banking anywhere else. This credit union as taken care of my every need. 24/7 services is excellent.
— Edward, member since 1985
I have been a Cinfed member for years. I know I can depend on them to provide excellent service. The bill pay on line is great and every time I visit the Florence branch I am met with friendly... 
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Closed a loan in 24 hours! Absolutely unheard of! Thanks to the exceptional customer service of LeAnn Rose at the Turfway Branch! She went above and beyond by providing unexpected expedited service! ... 
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I recently applied for a credit card online. I received a call from Emily Snyder explaining what needs to be done next. It was easy and Emily’s customer service was excellent. Emily is a great... 
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I met Emily Snyder because I had a flat tire in the parking lot of Cinfed Credit Union. I didn’t know what to do and she offered to help me. It was late in the evening and I didn’t think anyone... 
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Emily Snyder took care of setting up a consolidation loan for me on Saturday. She was very friendly, professional, and explained very articulately all the steps involved. Emily also opened a new... 
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I recently closed for a car loan and a credit card with Susan Z. Her service was excellent. We closed in a couple of days. She was so helpful with her knowledge. It was a pleasure to deal with her.
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I cannot say enough good things about the service I have always received from Cinfed! Most recently, we refinanced a vehicle and dealt with Emily S.! She was quickly responsive and on top of her... 
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I can say a million great things about Cinfed Credit Union and how they helped me over the years ,But there are many helpful service members, but one Great lady Is Mrs Susan Z. She is an Awesome... 
I have to say I think the new online banking update is pretty awesome. I love that the app is more up to date, clean and user friendly. Happy to be a customer with Cinfed.
— Kyle Neises
I have member with Cinfed for 24 years. The customer service is beyond great. Everything from daily banking to loan services. I recently purchased my daughter a car and originally it was going to be... 
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