My Branch: Georgetown

2187 Port Sheldon St. Jenison, MI 49428

M 9-5 | T-T 9:30-5 | F 9-6

My Branch: Creston

1327 Plainfield N.E. Grand Rapids, MI 49505

M 9-6 | T-T 9:30-5 | F 9-6 | S 9-12

My Branch: Meadowbrook

4833 Town Center Dr S.E., Grand Rapids, MI 49512

M 9-5 | T-T 9:30-5 | F 9-6

My Branch: Coopersville

1147 W. Randall St., Coopersville, MI, 49404

M 9-6 | T-T 9:30-5 | F 9-6 | S 9-12

My Branch: Wyoming

1414 Burton St. SW, Wyoming, MI, 49509

M 9-6 | T-T 9:30-5 | F 9-6 | S 9-12

Change Location
Georgetown
Creston
Meadowbrook
Coopersville
Wyoming

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Health Savings Account

Health Savings Account

Heatlth Savings Accounts (HSAs) are tax-free savings accounts that can be used to pay for qualified medical expenses (QMEs), and help you lower your overall healthcare costs.  They are available to people who are enrolled in a high deductible health plan (HDHP), including Marketplace Plans.

Who qualifies for an HSA?

  • Those who are covered under a High-Deductible Health Plan (HDHP) on the first day of the month (your minimum deductible has to be $1,350 for an individual or $2,700 for a family)
  • You have no other health coverage (such as Medicare, military health benefits, medical FSAs)
  • You cannot be claimed as a dependent on someone else’s tax return

HSA features

  • The money goes in tax-free and it comes out free of income taxes when you use it to pay for QMEs.
  • Helps you prepare for unexpected medical expenses
  • You can carry over unused funds from year to year
  • The account and your contributions are yours to keep even if you change jobs, health plans or retire.
  • Earns interest, which is not taxable.
  • Can be used for spouses or dependents medical expenses
  • Contributions can be made up to April 15 of the following year
  • No “use it or lose it” rule, your money just stays in your HSA account.
  • QMEs can include doctor’s visits, prescriptions, vision and dental expenses

Easy access to your HSA Account

  • Dedicated MPCU Debit Card available
  • Unlimited check writing
  • MPCU’s Online Banking & Bill Pay
  • MPCU mobile banking app
  • MPCU branch offices

Contribution Limits

For 2018, you can contribute up to $3,450 for self-only HDHP coverage and up to $6,900 for family HDHP coverage.  At age 55, an additional $1,000 is allowed annually. After age 65, you can withdraw funds for any purpose.  Deductible and contribution limits change annually, determined by the IRS.

Other important information about HSAs

  • HSAs can have beneficiaries
  • No required minimum distributions like IRAs.
  • Can roll them over, similar to IRAs
  • Deposits can be made by anyone (usually the account holder or employer)
  • 20% penalty for using funds from HSA for non-qualifying withdrawals
  • For tax related questions, please see a licensed tax advisor

Deposit Account Rates

NCUA Deposit Insurance Information

Chat with an agent:

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Lori Hornshaw

Lori Hornshaw

Branch Manager/Loans

@

616-252-2536

JoAnn Pugh

JoAnn Pugh

Senior Mortgage Lender

@

616-452-2161, ext. 2804

JoAnn can meet you at any MPCU branch

Terry Quinn

Terry Quinn

Investment Advisor

@

616-452-2690, ext. 2

Angela Czarnowski

Angela Czarnowski

Branch Manager/Loans

@

616-252-2573

JoAnn Pugh

JoAnn Pugh

Senior Mortgage Lender

@

616-452-2161, ext. 2804

Terry Quinn

Terry Quinn

Investment Advisor

@

616-452-2690, ext. 2

Stephanie Swem

Stephanie Swem

Branch Manager/Loans

@

616-252-2512

JoAnn Pugh

JoAnn Pugh

Senior Mortgage Lender

@

616-452-2161, ext. 2804

Terry Quinn

Terry Quinn

Investment Advisor

@

616-452-2690, ext. 2

Jerri Schmidt

Jerri Schmidt

Branch Manager/Loan Officer

@

616-252-2561

Eric Land

Eric Land

Member Service Representative/Loan Officer

@

616-252-2553

JoAnn Pugh

JoAnn Pugh

Senior Mortgage Lender

@

616-452-2161, ext. 2804

Terry Quinn

Terry Quinn

Investment Advisor

@

616-452-2690, ext. 2

Kinda Deising

Kinda Deising

Branch Manager/Loans

@

(616) 252-2511

Sarah Shea

Sarah Shea

Member Service Representative/Loan Officer

@

616-252-2513

JoAnn Pugh

JoAnn Pugh

Mortgage Specialist

@

616-452-2161, ext. 2804

Terry Quinn

Terry Quinn

Investment Advisor

@

616-452-2690, ext. 2

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