X Sound CU App on Google Play Store Sound CU App on App Store VIEW VIEW
HSAs WA

Open a Health Savings Account (HSA) in Kent

Open a Health Savings Account (HSA) in Kent

Pay for doctor visits, prescriptions, dental check-ups, and more when you open a health savings account in Kent.

Our health savings accounts offer great perks – like triple tax benefits, retirement supplements, account ownership, and more! When you open a Sound Credit Union HSA in Kent, you’ll experience the credit union difference with competitive rates and fees, tools and advice, and helpful service and support. Conveniently located, we hope you’ll stop by to experience the difference today!

Triple Tax Benefits*

Contribute with pre-tax dollars, receive tax-free returns, and make tax-free withdrawals.

No “Use It or Lose It” Rules

Any unused money in your account is carried over to the next year and accrues interest.

Use for Nearly Any Medical Related Expense

Funds can be used for a wide range of items. See a complete list of approved expenses.

You Own The Account

Even if you leave your employer, relocate, or become unemployed, the money is yours.

Supplement Your Retirement

After age 65, you can use the funds for non-medical expenses without penalty.

Easy Account Access

Access your funds with your HSA debit card, checks, or through Online and Mobile Banking.

HSA Eligibility

  • At least 18 years old

    At least 18 years old

  • Covered by a qualifying high-deductible health plan (HDHP)
    see limits below

    Covered by a qualifying high-deductible health plan (HDHP)
    see limits below

  • Covered by Medicare

    Covered by Medicare

  • Covered by another health plan that is not an HDHP

    Covered by another health plan that is not an HDHP

  • Claimed as a dependent on another person’s tax return

    Claimed as a dependent on another person’s tax return

Eligible
Individual HSA

  • At least 18 years old

    Yes

  • Covered by a qualifying high-deductible health plan (HDHP)
    see limits below

    Yes

  • Covered by Medicare

    No

  • Covered by another health plan that is not an HDHP

    No

  • Claimed as a dependent on another person’s tax return

    No

Eligible
Family HSA

  • At least 18 years old

    Yes

  • Covered by a qualifying high-deductible health plan (HDHP)
    see limits below

    Yes

  • Covered by Medicare

    No

  • Covered by another health plan that is not an HDHP

    No

  • Claimed as a dependent on another person’s tax return

    No

Not Eligible

  • At least 18 years old

    No

  • Covered by a qualifying high-deductible health plan (HDHP)
    see limits below

    No

  • Covered by Medicare

    Yes

  • Covered by another health plan that is not an HDHP

    Yes

  • Claimed as a dependent on another person’s tax return

    Yes

2022 HSA Guidelines

  • Individual

    Individual

  • Family

    Family

HDHP Minimum Deductible

  • Individual

    $1,400

  • Family

    $2,800

HDHP Annual Out-of-Pocket Limit

  • Individual

    $7,050

  • Family

    $14,100

HSA Contribution Limit

  • Individual

    $3,650

  • Family

    $7,300

HSA 55+ Catch-up Contribution Limit

  • Individual

    $1,000

  • Family

    $1,000


Make Managing your HSA Easier

Online and Mobile Transfers

Send your cash right where you need it with real-time online transfers.
Read about online banking
Learn about our mobile app

Mobile Deposit

Deposit checks into your Health Savings Account using Mobile Deposit on the Sound mobile app.
Learn more about mobile banking

Mobile Pay

Tap and pay with your smartphone wherever contactless payments are accepted. It’s an easy and secure way to pay. Learn more about Mobile Pay.

Plan Your Trip

Location & Hours

Address:
Kent Branch
10914 SE Kent-Kangley Rd
Kent, WA 98030

800.562.8130

Hours:
Monday - Friday 9am - 6pm
Saturday 9am - 1pm

Get the answers you need about Health Savings Accounts

A health savings account (HSA) is a bank account that can be used to pay medical expenses, tax-free, if you have a health plan with high out-of-pocket costs.

Sound Credit Union offers Health Savings Accounts. Learn More »

To open an HSA, you need a high deductible health plan (HDHP) that you either purchase on your own or get through your employer’s health insurance plan.

Sound Credit Union offers Health Savings Accounts. Learn More »

You can use your HSA to pay for qualified medical expenses, defined by the IRS, including medical care, vision and dental care expenses, prescription drugs, and payments for long-term care services and insurance.

Sound Credit Union offers Health Savings Accounts. Learn More »

As a Health Savings Account (HSA) holder, you must report all contributions and distributions on your income tax return. Non-qualified uses of HSA assets are subject to taxes and a 20% penalty, unless the beneficiary is age 65 or older, deceased, or disabled.

Below are the 2022 HSA contribution limits. Any 2022 HSA contributions can be made as late as the 2022 tax deadline in 2023.

2022 HSA Guidelines

HSA Contribution Limits
  • Individual: $3,650
  • Family: $7,300
HSA 55+ Catch-up Contribution Limit
  • Individual:  $1,000
  • Family:  $1,000

Note: Limits are adjusted annually for inflation.

Ready to open your Health Savings Account?