Health Savings Accounts
Minnco offers Health Savings Accounts (HSAs) to its members and member businesses. The popularity of HSAs continues to grow as the cost of insurance premiums rise. HSAs, used in conjunction with high-deductible health plans (HDHP), provide a way to save money for medical-related expenses tax-free.

If you have an HDHP, either as a self-employed or through your employer's health insurance program, consider opening up a HSA with Minnco. A Minnco HSA pays dividends on your entire balance. In addition, there isn't a minimum balance requirement.

You have convenient access to your account through the use of checks or a Minnco HSA Check Card. For more information on HSA savings account, click here or talk to one of our friendly Member Services representatives.

Use pre-tax dollars to pay for future medical expenses.

You will be able to deduct your contributions to your HSA, and the account earnings will accumulate on a tax-deferred basis. Best of all, distributions from your HSA are tax-free if they are used for qualified medical expenses.

Opening your HSA.

To open an HSA, you must have a high-deductible health plan. The major advantage of a high-deductible plan is lower premiums. 

Account balance is carried over.

Unlike contributions to a flexible spending account, the balance of your HSA at the end of the year is carried over to the next year. So you're not placed in a position of having to "use it or lose it" each year.

Protection from catastrophic medical costs.

The high-deductible health plan provides you with protection from catastrophic medical costs, and the HSA provides you with a source of funds to pay some or all of the costs not covered by the health plan.

Control and flexibility.

An HSA enables you to take control of your health care decisions. And since you are the owner of your HSA, it doesn't matter what your job status is or whether your employer makes contributions to your plan. Your HSA will always follow you.

Call or Stop in Today.

We can explain your options, answer any questions you may have and help you open your Health Savings Account!

Click here for Frequently Asked Questions!
Click here to see the IRS Publication 502 which covers qualified medical and dental expenses.


Greater Flexibility 

A Money Market Savings Account offers members greater flexibility with their savings while providing a higher dividend rate than a Regular Savings Account. Additional benefits include immediate cash access, no early withdrawal penalty, and (as with all of our savings vehicles) up to $250,000 of insurance through the National Credit Union Administration (NCUA).

Higher Dividend Rates 

We've structured our Money Market Savings Account with five different dividend levels to provide members the ability to receive a higher dividend rate as their account balance increases. 

Earn higher dividends on tiered balances: 
  • $1,000 - $2,499.99
  • $2,500 - $4,999.99
  • $5,000 - $9,999.99
  • $10,000 - $24,999.99
  • $25,000 and greater

Daily Dividends 

All balances earn the dividend rate within the level achieved and dividends are calculated daily and paid monthly. Dividend rates on the Money Market Savings Account are subject to change on the 15th day of each month. Click here to view our current Money Market Savings Account rates.