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Southern Lakes CU Finds Success with HSAs

Southern Lakes Credit Union says it stepped into the future of health care when it began offering Health Savings Accounts last year.

By Myriam DiGiovanni | Updated on July 10, 2007

LAKE GENEVA, Wis. — Southern Lakes Credit Union says it stepped into the future of health care when it began offering Health Savings Accounts last year.

HSAs are tax-free portable savings accounts that can be used to pay for medical expenses including prescription and over-the-counter drugs incurred by individuals, spouses or dependents. These accounts are accompanied by high-deductible comprehensive insurance policies that cover preventive care and larger medical bills. Unused HSA money rolls over from year to year and can then be used to pay for medical care up to the plan’s deductible.

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