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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

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.


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

*Consult your tax advisor for details.