Health Savings Accounts

Sometimes referred to as "Medical IRAs,” a Health Savings Account (HSA) is a tax-deductible savings account you can use to pay for a wide variety of health expenses. For many consumers, the benefits of the tax deduction make HSAs the smart approach to health insurance.

HSA Checking

Provident's HSA works like a checking account and earns dividends. Funds for immediate medical expenses are accessed with a debit card.
Government rules determine whether you are eligible and how you operate your account. You must be covered by a high deductible health plan (HDHP) that is HSA-compatible and not enrolled in Medicare, in addition to other requirements. Unlike Flexible Spending Accounts, your HSA has no "use it or lose it" requirement and also stays with you if you change jobs or retire.

Features:

HSA "Add-On" Certificate

This account is available to Health Savings Account (HSA) holders. With an HSA certificate, you have the option to choose either a 12 or 24 month term and can make contributions up to your HSA plan limits. This high rate certificate also has an add-on feature which gives you the ability to make deposits at any time.135 Tiered rates are available on this certificate giving you the ability to earn higher rates based on the current balance of your certificate.

Features:

  • Guaranteed high rates for the term of the certificate
  • Choice of maturity date
  • Federally insured to $250,000 by NCUA
  • Dividends may be transferred to Checking or Savings or withdrawn without penalty at maturity

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