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Health Savings Accounts
Health Savings Accounts provide a smarter way to save for your medical expenses
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Royal Credit Union's Health Savings Accounts (HSA) help eligible Wisconsin & Minnesota Members save for qualified medical expenses while earning a great rate and taking advantage of unique tax benefits.
Choose From Two Types Of Health Savings Accounts
Our HSA Checking comes with a debit card and checks to easily access funds and pay your medical expenses. It offers tiered dividend (interest) rates that increase for higher balances.
Our HSA Certificate is a 12-month certificate. Your balance earns a high dividend (interest) rate in exchange for not withdrawing funds for 12 months.
Benefits Of Having An HSA
- Whether you contribute to an HSA account from your paycheck before taxes or from your take-home pay, you won’t pay income tax. This can also reduce your taxable income.
- Download the form to start setting up direct deposit.
- Any dividends your HSA earns is not taxed. With Royal’s great rates, this can add up to substantial savings.
- When you use HSA account dollars for a qualified medical expense, your withdrawal is tax free.
- HSA funds roll over from year to year. If you don’t use the funds, they’ll remain in the account, unlike a Flexible Spending Account with a “use it or lose it” rule.
- HSA money is portable. Even if you leave your job or move, you can take your HSA with you.
- HSAs may provide a tax-advantaged way to save for medical expenses in retirement.
Who Can Have An HSA?
- To have a Health Savings Account, you must be enrolled in a high-deductible health plan, also known as an HDHP. The IRS sets limits on the minimum deductibles and out-of-pocket maximums a health plan may have to qualify as an HDHP.
- You also may not have other health coverage, be enrolled in Medicare, or be claimed as a dependent on someone else’s tax return this year.
Free Features Included With Your Royal HSA
- Free real-time alerts via our mobile app, text message, or email keep you up to date about your account
- Free online banking and mobile app makes checking balances and transactions fast and easy
- Free electronic or paper account statements and tax documents
- Free direct deposit
- Free stop payments
- Free CompuTeller access
HSA Checking Rate
HSA Certificate Rate
HSA Contribution Limits
Each year, the IRS adjusts the limits on HSA contributions to keep up with inflation. See the limit information in the table below. It’s important to note that these limits apply to your contributions plus any contribution or match made by your employer.
| 2026 HSA Contribution Limits | Individual Plan | Family Plan |
| Age 54 or younger | $4,400.00 | $8,750.00 |
| Age 55 or older* | $5,400.00 | $9,750.00 |
* Once you reach age 55, you are able to contribute up to $1,000.00 more than the regular maximum contribution limit. This is referred to as a catch-up contribution.
Consult a tax professional. Royal Credit Union does not provide tax advice.
- Contributions for the 2025 tax year can be made until April 15th, 2026.
Frequently Asked Questions
A health savings account (HSA) is a tax-advantaged account that lets you set aside money for medical expenses. Your contributions, dividends (or interest earnings), and withdrawals are tax free in most cases.
Royal offers two types of health savings accounts. HSA Checking comes with a debit card and checks to easily access funds and pay your medical expenses. The HSA Certificate is a 12-month certificate where your balance earns a competitive dividend rate in exchange for not withdrawing the funds for 12 months.
Royal's HSA offers a triple tax advantage:
- Whether you contribute to an HSA account from your paycheck before taxes or from your take-home pay, you won't pay income tax. This can also reduce your taxable income.
- Any dividends your HSA earns are not taxed.
- When you use HSA account dollars for a qualified medical expense, your withdrawal is tax free.
To have a health savings account, you must be enrolled in a high-deductible health plan (HDHP). The IRS sets limits on the minimum deductibles and out-of-pocket maximums a health plan may have to qualify as an HDHP. You also may not have other health coverage, be enrolled in Medicare, or be claimed as a dependent on someone else's tax return this year.
Yes, HSA funds roll over from year to year. If you don't use the funds, they'll remain in the account, unlike a Flexible Spending Account (FSA) with a "use it or lose it" rule. This makes an HSA a great long-term savings tool for medical expenses.
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