Skip to main content

Main Content

Health Savings

Take control of your healthcare spending! An SCE FCU Health Savings Account (HSA) is an easy way to save for healthcare expenses. You deposit money into your HSA, where it earns interest tax-free. Funds are not taxed when they’re used for qualified medical expenses. Although there are limits set by the federal government on how much you can contribute, your balances carry over year to year and belong to you even if you change employers. When you incur a qualified medical expense, such as a doctor or hospital visit, you can pay using your SCE FCU HSA Check Card. It couldn’t be easier!

Who can have an HSA?

Any adult may contribute to an HSA if they meet each of the following:

  • Have coverage under an HSA-qualified high deductible health plan (HDHP)
  • Have no other medical coverage
  • Are not enrolled in Medicare
  • Cannot be claimed as a dependent on someone else’s tax return

Qualified & Non-Qualified Medical Expenses

The following list provides examples of eligible and ineligible medical expenses.

Qualified & Non-Qualified Medical Expenses
Qualified Medical Expenses Non-Qualified Medical Expenses
  • Acupuncture
  • Alcoholism Treatment
  • Annual Physical Exams
  • Braces
  • Chiropractor
  • Contact Lenses
  • Convalescent Home Medical Expenses
  • Dental Fees
  • Drug Addiction Therapy
  • Eyeglasses
  • Handicap Equipment
  • Hearing Aids & Batteries
  • Hydrotherapy
  • LASIK or Vision Correction Eye Surgery
  • Nursing Home & Services
  • Ophthalmologist & Optometrist
  • Oxygen & Equipment
  • Prenatal Care
  • Prescription Medicines
  • Psychotherapy
  • Surgery
  • Weight Loss Programs (prescribed)
  • Athletic Club Membership
  • Car Insurance Premiums
  • Cosmetic Surgery & Procedures
  • Funeral or Burial Expenses
  • Illegal Operations & Treatments
  • Illegally Procured Drugs
  • Over-the-Counter Medication
  • Premiums for Life Insurance, Income Protection, Disability, Loss of Limbs or Sight
  • Special Food or Beverages
  • Travel

 

Rate Table: Checking & Savings

Checking & Savings Rates
  Dividend Rate7 APY8 Compounding Minimum Balance Minimum Deposit
Rewards Checking 0.30% 0.30% Monthly $0  
Free Checking 0.00% 0.00% None $0  
Fresh Start Checking 0.00% 0.00% None $0  
Teen Checking9 0.00% 0.00% None $0  
Prime Savings 0.12% 0.12% Quarterly $250 $5
Super Saver 0.22% 0.22% Quarterly $0  
IRA Savings 0.40% 0.40% Monthly $0  
Health Savings Checking 0.05% 0.05% Monthly $0 $50
Non-Dividend Savings 0.00% 0.00% Monthly $0  
Youth Savings9 0.12% 0.12% Quarterly $5  
Youth Super Saver9 0.22% 0.22% Quarterly $0  
Holiday & Vacation Club10 0.22% 0.22% Monthly $0 $10

 

 

Fees & Charges

Printable Rate Sheet