Health Savings Accounts

Now PeoplesChoice Credit Union is offering members or members with employees the chance to participate in our new HSA program. Both employees and employers can benefit from what these innovative health savings accounts have to offer.

How Will It Work?

Offering a health savings account-compatible health plan may better benefit your employees — and your business.

The increasing cost of health care is becoming a financial burden for many employers and employees.  As an alternative, some individuals are seeking a low-cost, low premium health plan option that, at a minimum, gives protection against high medical bills.  Adding a health saving account (HSA)-compatible health plan to your benefits package may be just what your employees are looking for!

HSA’s are savings tools with many features similar to IRA’s, but give your employees the opportunity to pay their medical expenses with tax-free money.  Employees generally are eligible for an HSA if they are covered by a high deductible health plan (HDHP), not covered by any other health plan (with limited exceptions), not enrolled in Medicare and not eligible to be claimed as a dependent on another person’s tax return.

PeoplesChoice Checking with SpendShield has it all.

A FREE checking account with no monthly fees, the lowest overdraft fees in Maine, and a safety net when you need it most. With PeoplesChoice Checking, you’re guaranteed the flexibility and freedom you need to keep your cash in check. Features like free mobile banking, direct deposit, and more get you what you want, when you need it.