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PerfectHealth Savings Account

A convenient way to schedule your payments


A PerfectHealth Savings Account (PHSA) is a tax-deductible savings account* that works in conjunction with a High Deductible Health Plan (HDHP). The PerfectHealth Savings Account is specifically designed to help pay for qualified health expenses and allows you to build a tax-sheltered nest egg while having the added benefit of allowing a broad range of tax-free withdrawals for qualified medical expenses.


For a list of qualified medical expenses, please refer to IRS Publication 502 at www.irs.gov.


Medical Items and dollar bills
Who Can Have a PerfectHealth Savings Account (PHSA)?

Any adult can contribute to a New York Community Bank PHSA if they:


  • Have no other first-dollar medical coverage (other types of insurance like, disability, dental care, vision care, or long-term care insurance are permitted).
  • Are not enrolled in Medicare.
  • Cannot be claimed as a dependent on someone else’s tax return.

To open your PHSA account, please complete an application and mail to the address indicated.


DOWNLOAD AN APPLICATION (PDF)
For more information, please call (800) 552-4395 or visit your nearest branch location.

*Consult your tax advisor for details.