New to SMCU?

Continue to Application


Current SMCU Member

Sign in to Online Banking

Save time! Sign in to Online Banking and click the "Apply for a Loan" or "Open an Additional Account" link. Your personal information will be automatically filled in.

No thank you, take me to the blank application.

×

New to SMCU?

Continue to Application


Current SMCU Member

Sign in to Online Banking

Save time! Sign in to Online Banking and click the "Apply for a Loan" or "Open an Additional Account" link. Your personal information will be automatically filled in.

No thank you, take me to the blank application.

×

New to SMCU?

Continue to Application


Current SMCU Member

Sign in to Online Banking

Save time! Sign in to Online Banking and click the "Apply for a Loan" or "Open an Additional Account" link. Your personal information will be automatically filled in.

No thank you, take me to the blank application.

×

New to SMCU?

Continue to Application


Current SMCU Member

Sign in to Online Banking

Save time! Sign in to Online Banking and click the "Apply for a Loan" or "Open an Additional Account" link. Your personal information will be automatically filled in.

No thank you, take me to the blank application.

×

New to SMCU?

Continue to Application


Current SMCU Member

Sign in to Online Banking

Save time! Sign in to Online Banking and click the "Apply for a Loan" or "Open an Additional Account" link. Your personal information will be automatically filled in.

No thank you, take me to the blank application.

×

New to SMCU?

Continue to Application


Current SMCU Member

Sign in to Online Banking

Save time! Sign in to Online Banking and click the "Apply for a Loan" or "Open an Additional Account" link. Your personal information will be automatically filled in.

No thank you, take me to the blank application.

×
Security Lock SMCU OnLine Login

SMCU OnLine Login




Enroll in SMCU OnLine
Forgot Password

Non-Members

Join SMCU Now

Current Members

Open an Account

Questions?
Call: (650) 363-1725
Email: memberservices@smcu.org

Please note: IRAs, Health Savings, Youth Savings/Certificates, and Business Money Market accounts cannot be opened online. To open these accounts, visit an SMCU branch or call (650) 363-1725.

Health Savings

Frequently Asked Questions about Health Savings Accounts

Q.  What is a high-deductible health plan (HDHP)?
A.  Essentially, the HSA-qualified high-deductible health plan* is health insurance that does not cover first-dollar medical expenses. The deductible must apply to all medical costs covered by the plan, and the HDHP must have:

  • A minimum deductible of $1,300** for individual coverage and $2,600** for family coverage
  • A maximum out-of-pocket limit (including deductibles and co-pays) of $6,550** for individuals and $6,550** for families

Q.  What happens when I spend my HSA money on non-qualified expenses?
A.  HSA funds used for anything other than "qualified medical expenses" are taxable as income and subject to an additional 10% tax penalty. After you turn age 65, or if you become disabled, the 10% additional tax penalty no longer applies. Please consult a tax professional.

Q.  What medical expenses qualify?
A.  Qualified medical expenses include:

  • Most medical care and services
  • Prescriptions and over-the-counter drugs, such as aspirin
  • Dental and vision costs, even if they are not covered by your insurance plan
  • Healthcare coverage during periods of unemployment
  • Qualified long-term care insurance

Q.  Who can contribute, when, and how much?
A.  You or any other person, including an employer or a family member, can make HSA contributions on your behalf by the tax-filing deadline. Money can be deposited into the account each year that you are eligible, up to the amount specified by law. Maximum HSA annual contribution limits are as follows:

  2016 2017
Individual Coverage $3,350 $3,400
Family Coverage $6,750 $6,750

Individuals age 55 and older can make additional "catch-up" contributions,
with annual maximums as follows:

2013 and after: $1,000

Visit the U.S. Department of Treasury for more information on the Health Savings Account.

Save more for qualified medical expenses.

As health insurance premiums continue to rise, consumers are looking for ways to obtain the coverage they need at a price they can afford. San Mateo Credit Union is pleased to offer a cost-efficient option for those who have a high deductible health plan: the Health Savings Account (HSA).

Benefits of an HSA

  • Deposits can often be made pre-tax and withdrawals are tax-free for qualified medical expenses*
  • Enjoy a higher interest rate than regular savings
  • Get a VISA® Debit Card to pay for medical expenses
  • Contributions limits traditionally increase each year

You are eligible to contribute to an HSA if you:

  • Are covered under a high-deductible health plan (HDHP)
  • Are not covered by any other health insurance plan
  • Are not enrolled in Medicare
  • Are not a dependent on another individual's tax return

To open, roll over, or transfer a Health Savings Account, please visit an SMCU branch or call (650) 363-1725.

Health Savings Account owners are responsible for determining their eligibility, contribution limits, and whether distributions are made for qualified medical expenses. Please consult a tax professional.

* Any money from the account that is used for non-qualifying expenses is taxable as income and subject to an additional 10% tax penalty. Consult a tax professional for your individual situation.

6