Grow Your Health Savings Faster
HSA Money Market Account
Your health savings deserve more than just a place to sit. The CorePlus HSA Money Market Account pairs with your existing CorePlus Health Savings Account to put your healthcare funds to work — earning tiered dividends designed to grow with your balance.
An HSA is more than just a savings account for medical expenses.
Your HSA Money Market Advantage
The CorePlus HSA Money Market Account is built to complement your tax-advantaged CorePlus Health Savings Account. Whether you’re setting aside funds for near-term medical expenses or building a long-term healthcare reserve for retirement, this account helps your money earn more at every balance level.
- Pairs seamlessly with your CorePlus Health Savings Account
- Tiered rates designed to reward growing balances
- Set aside funds specifically for future healthcare needs
- Complements your overall retirement strategy
- Federally insured by the NCUA
How the CorePlus HSA Money Market Works:
This account is a tiered money market product — meaning your entire balance earns at the rate for whichever tier it falls in. Dividends are compounded and credited monthly using the daily balance method. To earn dividends for the period, your account must maintain the minimum required daily balance throughout the month.
A few things to know:
- Must be a CorePlus member with a CorePlus HSA associated with a qualifying high-deductible health plan (HDHP)
- Account must be opened with a CorePlus representative — it cannot be opened online
- If your balance falls below the minimum daily balance requirement during the month, accrued dividends for that period will not be credited
- Your savings are federally insured to at least $250,000 by the NCUA
| Balance | APY* |
|---|---|
| <$1,999.99 | 0.25% |
| $2,000 – $9,999.99 | 2.50% |
| $10,000 – $24,999.99 | 3.00% |
| $25,000+ | 3.50% |
If you don’t have an HSA and qualify for one, you might be missing out.
To be eligible to have an HSA, you must be covered under an HSA-compatible high deductible health plan (HDHP). An HDHP generally requires that you pay out of pocket for medical expenses incurred (excluding certain preventive care expenses) until your deductible is met. Plan coverage kicks in after that. An HDHP may be HSA-compatible if it satisfies the IRS’ annual deductible and out-of-pocket expense requirements. But the rules that define an HSA-compatible HDHP can be complicated so check with your insurance provider or employer to see if your health plan is HSA-compatible.
| Year | Self-only Coverage | Family Coverage | |
|---|---|---|---|
| Minimum Annual Deductible | 2024 | $1,600 | $3,200 |
| 2025 | $1,650 | $3,300 | |
| 2026 | $1,700 | $3,400 | |
| Maximum out-of-pocket expenses | 2024 | $8,050 | $16,100 |
| 2025 | $8,300 | $16,600 | |
| 2026 | $8,500 | $17,000 |
NOTE: Self-only coverage covers only an individual. Family coverage covers an individual and a spouse and/or one or more dependents.
In addition to being covered under an HSA-compatible HDHP, you
- cannot be covered by a non-HDHP (with limited exceptions),
- cannot be enrolled in Medicare, and
- cannot be eligible to be claimed as a dependent on another person’s tax return.
HSA eligibility is determined as of the first day of each month.
HSA Contributions
If you’re eligible to contribute to an HSA for the entire year, you can contribute up to the annual statutory limit for the type of HDHP coverage you have (self-only or family). If you’re age 55 or older, you can make an additional “catch-up” contribution of up to $1,000. If you are not eligible for the entire year, you can still contribute the maximum contribution amount if you remain HSA-eligible throughout a 13-month “testing period.” If you do not remain HSA-eligible during the testing period, then the annual limit is prorated to the number of months that you are eligible.
| Year | Self-only Coverage | If age 55 or older | Family Coverage | If age 55 or older |
|---|---|---|---|---|
| 2024 | $4,150 | $5,150 | $8,300 | $9,300 |
| 2025 | $4,300 | $5,300 | $8,550 | $9,550 |
| 2026 | $4,400 | $5,400 | $8,750 | $9,750 |
If both you and your spouse have family coverage and are HSA eligible, one annual family contribution limit applies to both of you and may be split between your HSAs in any way you choose. For example, for 2022, you could contribute $3,650 to your HSA and your spouse could contribute $3,650 to his HSA, for a total of $7,300, the 2022 family contribution limit. Note that if both you and your spouse are each eligible for a catch-up contribution, the catch-up amounts cannot be combined into one HSA.
Contributions can be made throughout the year until your tax return due date (generally April 15) for that year, not to exceed your annual limit. Any contributions made on your behalf by your employer or anyone else are included in your one annual limit.
As long as you cannot be claimed as a dependent on another person’s tax return, you can deduct HSA contributions made by yourself and your spouse (not those made by your employer).
Distributions
You will not have to pay income tax or penalty tax on the money withdrawn from your HSA for qualified medical expenses. Qualified medical expenses generally include most medical, dental, and vision care expenses not covered by insurance that are incurred by you, your spouse, or your dependents after your HSA is opened. IRS Publication 502, Medical and Dental Expenses, contains a partial list of qualified medical expenses.
HSA distributions that are not used for qualified medical expenses are subject to ordinary income tax and, if taken before age 65, a 20 percent penalty tax (unless the HSA assets are distributed after you become disabled or die).
You may want to visit with a competent tax advisor before making HSA contributions or taking HSA distributions.
*Subject to annual cost-of-living adjustments
Ready to Grow Your Health Savings?
Stop by any CorePlus branch today to open your HSA Money Market Account. Our team is ready to help you make the most of every dollar set aside for your health.
Health Savings Accounts (HSA)
An HSA is more than just a savings account for medical expenses.
Schedule an In-Branch Appointment to Open Your Account
*APY = Annual Percentage Yield. Rates effective as of May 27, 2026, and may be changed without notice. Must be or become a CorePlus member with a CorePlus HSA account associated with a high deductible healthcare plan. Account must be opened with a CorePlus representative and cannot be opened online. The CorePlus HSA Money Market is a tiered account. If your account has the minimum balance to earn the tiered rate as stated above you will be paid the APY on the entire balance in your HSA Money Market within that tier. Dividends are calculated by the daily balance method which applies a periodic rate to the daily balance in the account for the period. Failure to maintain the minimum required daily balance during the dividend period will result in the loss of accrued dividends for the period. Dividends will be compounded monthly and credited monthly. For this account type the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example above is February 1. If you close your account, or fall below the minimum daily balance requirement during the month, before dividends are credited, you will not receive accrued dividends. This credit union is federally insured by the National Credit Union Administration.