Invest in your health today & tomorrow

Take advantage of tax-free savings for qualified medical expenses now. Your future self will thank you!

Health Savings Account
The Run Down
  • Save money tax-free for medical expenses
  • No initial deposit. No minimum balance needed. No account maintenance or transaction fees for health savings account
  • Your account stays with you — wherever you work and after you retire
  • Free Visa® HSA debit card, HSA checks and online bill pay
  • High dividends paid monthly for accounts with average balances of $100 or more in savings
  • Low-cost investment options available for accounts with balances above $1,000
  • Health Savings Account Shares insured to at least $250,000 by NCUA
0.65 %
0.648 %

With an average daily balance of $100 or more

Earn more on your money!

Get certificate rates as high as 1.85% APY.57

Learn More

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"Best Deals in Banking of 2015" - Kiplinger's


"Best Savings Account in 2017" - NerdWallet

Magnify Money Award

"Best Online Savings Account in 2017" - MagnifyMoney

Health savings account 101

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.)


Annual Contribution Limits

HSA Guidelines for 2016

  HSA Contribution Limit HDHP Minimum Deductible HDHP Maximum Out-of-Pocket HSA 55+ Contribution Limit
Single $3,350 $1,300 $6,550 $4,350


$6,750 $2,600 $13,100 $7,750

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+ Contribution Limit
Single $3,400 $1,300 $6,550 $4,400


$6,750 $2,600 $13,100 $7,750

Am I eligible for an Alliant HSA?

Answer these questions to determine your eligibility:
  • Are you at least 18 years old?
  • Are you covered by a qualified High Deductible Health Plan?
  • Do you have an HSA account at another financial institution but are not covered currently by a High Deductible Health Plan?
  • Are you covered by another healthcare plan (except some specialized plans such as specific injury or accident, dental, vision or long term care) (if yes, you may not be eligible to contribute to an HSA)
  • Are you enrolled in Medicare? (if yes, you may not be eligible for HSA contributions)
  • Have you received VA medical services within the previous three months? (if yes, you may not be eligible for HSA contributions)
  • Are you claimed as a dependent on someone else's tax return? (if yes, you may not be eligible for HSA contributions)

Setting up an Alliant HSA

Five steps to get started40
  1. Verify HSA eligibility (see criteria above)
  2. Calculate how much you are eligible to contribute monthly to your account.
  3. Click here to open HSA account.42
  4. Fund the HSA by check deposit or transfer from an Alliant account. If your employer will be funding the HSA, provide your employer with 14 digit HSA account number and Alliant ABA/routing # 271081528.
  5. Set up beneficiaries online or by completing the HSA Beneficiary Designation form.
Not a current Alliant member?

If you aren't currently an Alliant member, you'll need to become a member before opening an Alliant HSA. Don't worry. It's easy, and we'll even add the first $5 into a savings account for you71! Then, it's your choice if you'd like to add more to the regular savings account in the future. Regardless, you'll have access to your HSA account!

Two great ways to grow your savings
  1. Our high market HSA provides you with a dividend rate of 0.648%. Your funds are insured up to $250,0008.
  2. You may want to invest your HSA funds to possibly earn even greater returns. If so, consider signing up for the HSA Investment program through our Self Managed Investing Tool23,74. See the current list of mutual funds available for HSA investing.
24/7 account access

You can easily access your account any time, day or night, online or by phone.

Use your free Visa HSA debit card or your free HSA checks to pay for all eligible medical expenses.

Qualified expenses

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.


Health Savings Account Rates58

0.65 %
0.648 %

Let Me Know When Alliant Rates Gets Even Better

Health Savings Account Fees

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

Health Savings Account FAQs

Can my HSA funds pay for medical expenses of my spouse and dependents if they’re not HDHP covered?

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.

Can I use Alliant’s Online Bill Pay with my Alliant HSA?

Yes. You can use the free Alliant Online Bill Pay to make a payment from your Alliant HSA for qualified medical expenses.

Where do I send checks for deposit to my Alliant IRA, HSA, or ESA account?

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

How do I know if the HDHP I have qualifies me for an HSA?

Check with your insurance provider or employer to ensure you are covered by a qualified HDHP.

How do I return funds to my HSA?

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.

Can I roll over funds from my traditional or Roth IRA to my HSA?

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.

Can I use my Alliant HSA debit card with Apple Pay™ to pay for prescriptions?

No. Alliant HSA debit cards are not eligible for Apple Pay™ at this time.

Can I use my Alliant HSA debit card with Android Pay or Samsung Pay to pay for prescriptions?

Yes. Alliant HSA debit cards are eligible for both Android Pay and Samsung Pay mobile payment systems.

What are my investment options for the HSA Self-Directed Account?

Our investment partner SaveDaily offers many leading mutual funds. You can review the current list here.

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