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St. Joe Valley Credit Union Medical Savings Accounts for Members
Our Medical Savings Account is a convenient way to save for health care expenses. It is also a great way to save on your State of Idaho income tax return.*
- Contribution up to $2,000 per year (plus the accrued dividend) is deductible form Idaho State income taxes.*
- Withdrawals can be made for any eligible medical expenses* per IRS code.
- Dividends are compounded quarterly.
- If you are married, you can establish an account in your spouse’s name and claim up to a $4,000 combined deduction.*
- One free checks per month from this account, additional checks at $3.00 each.
Samples of eligible medical expenses may include the following:
- Medical insurance premiums
- Doctor office visits for exams, x-rays, and lab services
- Dental expenses
- Prescribed drugs, vaccines, and vitamins
- Nursing service
- Hospitalization and emergency treatment
- Chemical dependency treatment
- Medical aids such as hearing aids, false teeth, eyeglasses, contact lenses, braces, orthopedic shoes, wheelchairs, and guide dogs
- Ambulance service
*Please consult a tax advisor regarding possible tax benefits.
Please see our account disclosures for the Terms & Conditions, Funds Availability, & Truth-In-Savings Disclosures.
American Share Insurance privately insures this credit union. This credit union is not federally insured, and if this institution fails, the federal government does not guarantee that depositors will get back their money. St. Joe Valley Credit Union is not liable for content or availability of linked sites. This site was designed and is maintained by League Services, Inc.
Our Credit Union is committed to providing a website that is accessible to the widest possible audience in accordance with ADA guidelines. We are working to increase the accessibility and usability of our website for all people. If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at 208-245-4231 for assistance. Products and services available on this website are available at our office located at 129 South 9th Street, St. Maries, Idaho 83861.
