A Health Savings Account (HSA) is a special purpose (tax-free) account that allows individuals to save for future qualified medical expenses. An HSA is a great way to prepare for unexpected medical bills.
Below is a list of frequently asked questions, Click the question to see more information.
Who Is Eligible for an HSA?
Who Is Eligible To Contribute To An HSA?
What Can I Pay For With My HSA?
Do I Lose my HSA Funds if I Don't Spend Them by the End of a Calendar Year?
How Do I Withdraw Money From the Account?
Can My Spouse Access The Funds In My HSA?
Who Is Eligible for an HSA?
Individuals who participate in high deductible health insurance plans. You must have coverage under an HSA-qualified "high deductible health plan" (HDHP) to open and contribute to and HSA.
Who Is Eligible To Contribute To An HSA?
Before tax contributions can be made via direct deposit in the form of payroll deductions from your employer. After tax contributions can be made by the customer.
What Can I Pay For With My HSA?
With HSA funds, you can pay for a wide variety of health-related expenses including dental and eye care, doctor visit co-pays, prescriptions, over-the-counter medications, first aid supplies, and more.
Do I Lose my HSA Funds if I Don't Spend Them by the End of a Calendar Year?
This account has no expiration date, so you don't need to worry about 'using it or losing it'. Instead, you decide when you want to save and when you want to use the funds for qualified medical expenses for you and your family.
How Do I Withdraw Money From the Account?
You can conveniently access your funds with your HSA debit card or checks.
Can My Spouse Access The Funds In My HSA?
Yes, just add your spouse as a power of attorney on the account.
