ALEXANDRIA, Va. – NCUA said yesterday that Health Savings Accounts qualify for deposit insurance coverage under the National CU Share Insurance Fund. In a new legal opinion letter issued to an HSA provider, HealthEquity Inc., of American Fork, Utah, NCUA explained that HSAs will be insured as long as the owner of the funds is a member of the credit union or otherwise eligible to maintain an account there, or as a revocable trust. HSAs are tax-deductible accounts in which taxpayers may deposit funds targeted for medical or other health purposes.
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