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Health Savings Accounts (HSAs)

Health Savings Made Easy 

BMI Federal Credit Union offers Health Savings Account (HSA) Checking Accounts to help you save money while managing your healthcare payments. 

Benefits of a BMI Federal Credit Union HSA

  • Use your HSA Visa® Debit Card for easy account access
  • Funds available for all qualified medical expenses*
  • Four tiers available based on your minimum balance 
  • Earn dividends
  • Deposits can be made pre-tax
  • No age or income limits

Health Savings Accounts (HSA) FAQ


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Health Savings Accounts (HSAs) To Help You Save

Product Minimum Maximum Rate APY1Print Health Savings Account
HSA Checking: Tier 1 N/A $2,499.99 0.35% 0.35%
HSA Checking: Tier 2 $2,500.00 $9,999.99 0.50% 0.50%
HSA Checking: Tier 3 $10,000.00 $24,999.99 0.75% 0.75%
HSA Checking: Tier 4 $25,000.00 N/A 1.00% 1.00%
Health Savings Account (HSA) rates effective 12:30 pm on Wednesday, May 3, 2023
1 APY = Annual Percentage Yield. Rates are subject to change without notice. Fees such as a penalty for early withdrawal may reduce earnings.

Qualifying for an HSA

To be an eligible individual and qualify for an HSA, you must meet certain requirements including but not limited to the following:

  • You are covered under a high deductible health plan (HDHP)
  • You have no other health coverage including but not limited to Medicare, except what is permitted by the Internal Revenue Service**
  • You cannot be claimed as a dependent on someone else’s tax return



Explore eligibility, contributions, distributions and more.  

For the full publication of guidelines and benefits for HSAs, visit www.irs.gov

Need Help?

  • Contact a Member Service Representative at 614.707.4000
  • Visit any of our five branches in Dublin, Columbus or Westerville

BMI FCU is not responsible and does not assume any responsibility for determining the eligibility to make contributions to an HSA, nor is the Credit Union responsible for determining the yearly HSA contribution limits. The information provided does not, and is not intended to, constitute legal or tax advice. Rather, all information, content, and materials is intended for general informational purposes only. Please work with your tax adviser or legal professional to obtain advice regarding your situation.
*Visit the IRS publication of guidelines to review qualified medical expenses. 
+Card Alerts are provided at no additional cost from BMI FCU. Message and Data rates may apply. MyCardRules is a mobile application developed and maintained by Jack Henry and Associates for financial institutions that use JHA Card Processing Solutions™ card processing.
**If you are receiving Social Security retirement benefits you are likely automatically enrolled in Medicare.