We offer Montana Medical Savings Accounts

Reduce your state income taxes and earn tax-deferred dividends with a Montana Medical Savings Account (MSA). You can pay for qualifying medical expenses and save for future medical expenses. Contribute up to $4,500 annually and enjoy tax savings on your Montana tax return (Consult your tax advisor).

The unused balance at the end of each year rolls over for future use and continues to earn a competitive yield. An MSA can also be passed to others, so you can leave a legacy for spouses, children or grandchildren to use for their own medical expenses. There are also no inheritance taxes on MSAs.

Although the maximum annual contribution is $4,500, you can also put less than that in an MSA. Eligible expenses include medical insurance premiums; prescription drugs; medical, dental and nursing home care; eyeglasses; crutches; and transportation for medical care and more.

Everyone in southwest Montana is eligible to set up an MSA at High Peaks Federal Credit Union, even if you have another health care plan provided by your employer, or already have a Federal Health Savings Account. If you are married, your spouse can open an additional MSA, increasing your Montana tax savings.