Help protect yourself against rising medical costs.
Tax breaks help you set aside more money for health care.
Ensure your family can afford the best treatment possible
Health care costs continue to rise, putting a strain on family budgets. Even if you’re fortunate enough to avoid serious illness and injury, routine matters like eye exams and dental work can get expensive. At Michigan First, we offer Health Savings Accounts (HSAs) that help stretch your medical care dollars by providing tax advantages and competitive dividends.
- HSAs are for individuals and families with high-deductible medical plans
- Funds can be used for a wide range of medical, dental and eye care, as well as prescription costs
- Contribute as much as you want to annually, up to $3,550 for individuals and $7,100 for families
- Contributions are made with pre-tax dollars and interest earned is not taxable
- All withdrawals are tax-free
- Unused funds can be rolled over to the next year with no penalty
Michigan First is a full-service credit union with branches that are easily accessible around Metro Detroit, Grand Rapids and mid-Michigan.