Health Savings Account FAQs
|
|
- Winifred Webster
- 8 years ago
- Views:
Transcription
1 Health Savings Account FAQs These questions and answers summarize the basic concepts of a Health Savings Account (HSA). It is not intended to provide all the information you need in order to make a decision on whether or not an HSA is right for you. You may want to consult your tax advisor. What is a Health Savings Account? A Health Savings Account (HSA) is an account that works in conjunction with a High- Deductible Health Plan (HDHP). The account allows you to put money aside and reimburse yourself for medical expenses on a tax-deductible basis (see the next question on how an HSA works). Unspent funds accumulate tax-free and roll over from year-to-year. (There is no use it or lose it rule as with flexible spending accounts.) You can setup an HSA at any financial institution that provides HSA services. As long as you are enrolled in, and covered solely by, a compatible High-Deductible Health Plan and meet the eligibility guidelines you can continue to contribute to your HSA. An HSA gives you the freedom to spend the funds today or save them for the future. The HSA is your account. You own it. You fund it. And you can take it with you wherever you go. How does an HSA work? Contributions you make to your HSA are tax-deductible. You contribute to the account during the year and deduct the contributions on your Federal income tax return. Funds you withdraw to pay for qualified medical expenses, as defined by Section 213(d) of the IRS Tax Code, are tax-free. If you use your HSA funds to pay for non-health related expenses, the amount will be taxable and you will pay an additional 20 percent tax penalty. The tax penalty does not apply if you are disabled, reach age 65 or die, but is treated as gross income for tax purposes. Who is eligible for an HSA? You are eligible for an HSA if you are covered only by a compatible High-Deductible Health Plan (HDHP). At Stanford, that is the Blue Shield HDHP. Other rules and restrictions apply, including: You are not covered by other health insurance You are not enrolled in Medicare (Part A and B) You are not listed as a dependent on someone else s tax return You do not participate in Stanford s health care Flexible Spending Account Your spouse is not enrolled in a health care Flexible Spending Account Web doc #41 Page 1 of 7 Rev. 09/2012
2 Where can I setup an HSA? Banks, credit unions and other financial institutions offer these accounts. Depending on the institution, your HSA may be a simple interest bearing account or investment account. Some institutions offer debit cards to make accessing your HSA funds easier. Checks or direct deposit services may also be available. Here is a partial list of banks that offer individual HSA services. These institutions are listed for your convenience only and are not endorsed by Stanford University. You may want to contact your bank and ask if they offer HSA accounts Bank of America The Bancorp Bank mybancorphsa.mybankingservices.com/ Chase Bank HSA Bank OptumHealth Bank Stanford Credit Union or Sterling HSA Wells Fargo Bank Who is HealthEquity? Health Equity is Blue Shield s financial partner for Blue Shield members who want to setup an HSA. When you enroll in the Blue Shield High-Deductible Health Plan, you can setup an account with HealthEquity at the same time, if you are eligible. This gives you easy access to online tools and resources linked directly with your medical plan. You can also review medical and pharmacy claims, schedule payments to providers and reimbursements to yourself. If you set up a HealthEquity HSA, you have the option to enroll in an interest bearing or investment account. Additionally, the account offers a debit card to make accessing your HSA funds easy. Why would I choose HealthEquity instead of another financial institution? Setting up your HSA with HealthEquity offers two additional advantages: You can fund your account through pre-tax payroll deductions instead of putting money in the account on your own. This means your HSA contributions are made with pre-tax dollars, so you do not have to claim a deduction on your income tax return. Stanford will contribute $300 to your account when you cover yourself only in the Blue Shield High-Deductible Health Plan, or $600 when you cover yourself plus one or more eligible family members. This is only available if you open your HSA through HealthEquity. Web doc #41 Page 2 of 7 Rev. 09/2012
3 If you setup your HSA during Open Enrollment, you will receive Stanford s contribution starting with your first paycheck in January. The contributions will be in 24 equal installments during the year. You also decide how much of your own money you want to contribute, and can change that amount at any time. Whether you contribute or not, you will receive Stanford s contribution. If you decide to setup a your HealthEquity HSA after Open Enrollment ends, the amount Stanford contributes will be prorated based on the number of pay periods remaining in the calendar year after you setup your account. You must be an active employee or on a non-personal leave to be eligible to receive Stanford s contribution. VA doctors are not eligible to receive the Stanford contribution. Each year during Open Enrollment, you will need to choose a new contribution amount for your HealthEquity HSA in order to contribute money and continue to receive Stanford's contributions for the following plan year. If you do not make a choice, re-, the contribution amount for the current year will end December 31 How do I contact HealthEquity or get more information? HealthEquity Member Services is available to answer your questions 24 hours a day, every day at You can also find information online at How soon can I setup my HSA? With HealthEquity: You can setup your account during Open Enrollment on MyBenefits at With any other financial institution: Depending on the financial institution, you can setup your account as early as the effective date of your coverage in the Blue Shield High-Deductible Health Plan, or any day thereafter. You can use your printed enrollment summary or your enrollment confirmation statement from the benefits enrollment site as evidence of enrollment, and then work with your bank to setup your HSA. Will it cost me anything to setup an HSA? If you setup your HSA with HealthEquity, there are no account or set-up fees while you are employed by Stanford and enrolled in the Blue Shield High Deductible plan. Other financial institutions may charge fees. For additional questions, contact HealthEquity at Who owns the HSA? You do. There is no use it or lose it rule as with a Flexible Spending Account. Can I rollover the money from my bank s HSA to Health Equity? Yes. For more information, call HealthEquity Member Services at Do I have to claim Stanford s contributions to my HealthEquity HSA on my income tax? You do not have to claim contributions you receive from Stanford as gross income on your annual tax return. Web doc #41 Page 3 of 7 Rev. 09/2012
4 How much can I contribute to an HSA? For 2012, the maximum contribution set by the IRS for an individual account is $3,100; $6,250 for family coverage. For 2013, the maximum contribution for an individual account is $3,250; $6,450 for family coverage. Catch-up Contributions If you are age 55 or older, you can make an additional catch-up contribution of $1,000. My spouse and I are both over age 55. Can both of us make catch-up contributions? Your Health Equity HSA will be in your name. If you both want to make catch-up contributions, then you must establish separate accounts. Does my HSA contribution have to be made in equal amounts each month? You can contribute the total amount in a lump sum at the beginning of the year, or you can choose to contribute in any amount or frequency you wish. Your account trustee/custodian (for example, bank or credit union) can impose minimum deposit and balance requirements. HSAs have a contribution deadline similar to an Individual Retirement Account (IRA). To claim contributions for the current tax year (January to December), the deadline is April 15 of the following year. Do I need to keep any records when I use my HSA? Although some financial institutions track the use of the HSA for you, it is a good idea to keep your own records. It is your responsibility to track the use of your HSA. The IRS may require you to show proof of your expenditures. We recommend you designate a place to store all your receipts so they are available when you need them. Is an HSA the same as a health care Flexible Spending Account (FSA)? There are some similarities, but here is what makes an HSA different from an FSA: You choose which financial institution you want to use, and setup the account yourself. Your HSA rolls over each year. There is no use it or lose it rule, so you can accumulate funds for future health expenses. Your HSA is portable. It is your own account, so you use the same account from one employer to the next. Interest or investment earnings on the HSA funds are tax-free. You can spend the funds on non-health purposes, although those funds will be taxed and additional penalties apply. Web doc #41 Page 4 of 7 Rev. 09/2012
5 Do I pay for the full doctor s office visit when I go to the doctor? You are responsible to pay the amount your insurance has contracted to pay your doctor, typically a discounted rate, until your deductible is met. You can use your HSA for this expense. It is best to have your doctor s office put the charge through to Blue Shield first so you receive credit toward your deductible and know exactly what to pay. Some doctors may require you pay up front, but most bill your insurance, then bill you once Blue Shield processes the claim. Make sure you do not pay more than your portion shown on Blue Shield s Explanation of Benefits (EOB), which you receive from Blue Shield after your expense has been processed. What medical expenses can be paid from an HSA? Some examples of qualified medical expenses include: Unreimbursed medical expenses including chiropractic visits and acupuncture for yourself and your dependents. Dental expenses, including braces for you or your dependents. Vision expenses, including Lasik eye surgery. Out-of-pocket expenses such as your deductible and copays. Medical insurance premium if you are unemployed and collecting federal unemployment benefits, or if you have COBRA continuation coverage through a former employer. Long-term care expenses and insurance. You can find a complete list of allowable expenses for an HSA by checking IRS Publication 502 available online at Can I use my HSA for over-the-counter medicines and drugs? Only prescribed medicines or drugs (including prescribed over-the-counter medicines and drugs) and insulin (even if purchased without a prescription) are considered qualifying overthe-counter (OTC) medical expenses. Most other OTC medicines and products are not eligible for reimbursement. You can find more information about changes the IRS made to OTC medicines on the IRS Web site at Type over the counter medicines and drugs in the search field. Can I use my HSA funds for my domestic partner or same-sex spouse? The HSA is a federal program and covered by the Family Protection Act. This Act does not recognize domestic partnerships or same-sex marriages even if the state of residency does. For example, in California you can cover your domestic partner on the Blue Shield High- Deductible Health Plan, and you can contribute to the HSA up to the family maximum. However, note that you will be taxed if you use your HSA funds for your domestic partner s expenses (even if qualified). The only way a domestic partner can be recognized for federal tax purposes is if the partner qualifies as a legal tax dependent. Web doc #41 Page 5 of 7 Rev. 09/2012
6 Can my domestic partner or same-sex spouse set-up his or her own HSA? Yes. As long as your domestic partner or same-sex spouse is covered by the Blue Shield High- Deductible Health Plan, he or she can open and fund an individual HSA. Can I use my HSA funds to pay for my child(ren) s medical expenses? The money in your HSA can be used to pay for qualified medical expenses of any family member who qualifies as a dependent on your tax return. What happens to my HSA if I change medical plans or leave Stanford University? Your HSA is portable, which means you can keep your HSA even if you: Change jobs Change your medical coverage Become unemployed Move to another state Change your marital status We strongly encourage you to check with your financial institution to find out if any of these changes might impact your ability to contribute to or access funds tax-free from your HSA. What happens to my HealthEquity HSA contributions when I leave Stanford? Your pre-tax contributions (and Stanford's) stop the date your benefits eligibility ends. Because you own the account, you're eligible to withdrawal unused funds from the account to pay for eligible expenses. If you plan to enroll in the Blue Shield High Deductible Health plan through COBRA, you may be eligible to contribute directly to your Health Equity HSA (or establish a HealthEquity HSA if you're newly enrolled in the Blue Shield High Deductible plan). Under a directrelationship with HealthEquity, monthly administrative fees may apply. For assistance with questions related to maintaining, contributing or establishing a HealthEquity HSA after you leave Stanford, call HealthEquity Membership Services at (877) I m retired. Can I still contribute to my HSA? Yes, if you are covered by the Blue Shield High-Deductible Health Plan and are not enrolled in Medicare. Web doc #41 Page 6 of 7 Rev. 09/2012
7 What happens to my HSA when I enroll in Medicare? You are no longer eligible to contribute to your HSA, but you can continue to withdraw the funds and use them to pay for expenses such as Medicare premiums and out-of-pocket expenses (including Part A and Part B deductibles, copays and coinsurance, and long-term care insurance premiums). You also can use these funds to pay medical expenses for your spouse and your dependent children. If you are age 65 or older and still working We recommend that you contact Social Security to understand how long you can defer Social Security payments and Medicare Part A in order to continue contributing to your HSA. What happens to my HSA if I die? If you are married, your spouse becomes the owner of the account and can use it as his or her own HSA. If you are not married, the account will no longer be treated as an HSA. Instead the account will pass to your beneficiary or become part of your estate. You can find additional information on Health Savings Accounts in the IRS Publication 969 at Web doc #41 Page 7 of 7 Rev. 09/2012
2015 Health Savings Account (HSA) Frequently Asked Questions. Table of Contents
2015 Health Savings Account (HSA) Frequently Asked Questions Table of Contents Health Savings Account (HSA) Plans What is a Health Savings Account (HSA)?...pg. 1 How does an IU Health HSA work?...pg. 1
More informationHealth Savings Account Frequently Asked Questions
Health Savings Account Frequently Asked Questions (for Core 60 Medical Plan Members) The Health Savings Account (HSA) is a great way to save for health care expenses incurred today or in the future for
More informationFrequently Asked Questions. High Deductible Health Plan (HDHP) with Health Savings Account (HSA)
Frequently Asked Questions High Deductible Health Plan (HDHP) with Health Savings Account (HSA) There are two components to the High Deductible Health Plan (HDHP) with HSA Medical Plan the HDHP Health
More informationHealth Savings Accounts Frequently Asked Questions
Health Savings Accounts Frequently Asked Questions Health savings accounts put your health care spending in your own hands. You decide when and how to use your health care dollars and you can save on taxes
More informationKitsap Bank Health Savings Account Guide. A tax-smart way for you to manage growing healthcare costs.
Kitsap Bank Health Savings Account Guide A tax-smart way for you to manage growing healthcare costs. At Kitsap Bank, we believe that helping you prepare for the rising cost of health care is key to helping
More informationHSA Frequently Asked Questions
Like knowing what you re spending on health care costs? Then an HSA may be just the right thing for you. It puts your health care spending in your hands. Which is pretty cool. Want to know a little more?
More informationFAQs: Health Savings Accounts (HSA)
FAQs: Health Savings Accounts (HSA) Thank you for choosing NTA Life Business Servicess Group, Inc. to be your HSA provider. We want to make it easy for you to manage and maintain your Health Savings Account,
More informationQUESTIONS AND ANSWERS
QUESTIONS AND ANSWERS 1 An Account-Based Health Plan offers employees the choice of paying lower monthly premiums and is designed for you to be in control of your health costs. By enrolling in an Account-Based
More informationBlue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions
Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions What is the Blue Shield of California CDHP with HSA? The Blue Shield of California
More informationHealth Savings Account HSA Summary
Health Savings Account HSA Summary Effective January 1, 2016 TABLE OF CONTENTS INTRODUCTION... 3 WHO IS ELIGIBLE... 3 IRS REQUIREMENTS... 3 WHEN IS ELIGIBILITY DETERMINED?... 3 DO MY SPOUSE & I ESTABLISH
More informationFREQUENTLY ASKED QUESTIONS HEALTH SAVINGS ACCOUNTS
FREQUENTLY ASKED QUESTIONS HEALTH SAVINGS ACCOUNTS What is an HSA? A health savings account (HSA) is a tax-favored savings account created for the purpose of paying medical expenses. Tax-deductible Contributions
More informationHealth Savings Accounts. 2013 Benefits Open Enrollment
Health Savings Accounts 2013 Benefits Open Enrollment What is a Health Savings Account? The health savings account, or HSA, is an account that you can contribute to on a per-pay-period basis. The money
More informationHEALTH SAVINGS ACCOUNT Q&A
HEALTH SAVINGS ACCOUNT Q&A HSA BASICS What is a health savings account or HSA? A health savings account (HSA) is a tax sheltered savings account, which is only offered to people who are covered under a
More informationHealth savings account Q&As
Health savings account Q&As What are HSAs and who can have them? 1. What is a Health Savings Account (HSA) and how does it work? An HSA is a tax-advantaged account established to pay for qualified medical
More informationHSA Frequently Asked Questions Members
Like knowing that you re spending on health care costs? Then an HSA may be just the right thing for you. It puts your health care spending in your hands, which is pretty cool. Want to know a little more?
More informationFREQUENTLY ASKED QUESTIONS QUALIFIED HIGH DEDUCTIBLE HEALTH PLAN WITH A HEALTH SAVINGS ACCOUNT
FREQUENTLY ASKED QUESTIONS QUALIFIED HIGH DEDUCTIBLE HEALTH PLAN WITH A HEALTH SAVINGS ACCOUNT Qualified High Deductible Health Plans (QHDHP) What is a QHDHP? A QHDHP is a medical plan regulated by the
More informationHealth Savings Accounts Frequently Asked Questions (FAQs)
Health Savings Accounts Frequently Asked Questions (FAQs) If you are interested in enrolling in the new Gold Plan with an HSA during Open Enrollment, read on to learn more about the IRS requirements. Or,
More informationHSA 101. A Quick Overview of Health Savings Account Basics
HSA 101 A Quick Overview of Health Savings Account Basics Agenda Health Savings Account Features HSA Eligibility Contributions Tax Information Distributions HSA-Qualified Expenses Paying for Medical Services
More informationAccount Based Health Plan with Health Savings Account Guide
Account Based Health Plan with Health Savings Account Guide Lead the way Page 1 2016 ABHP with HSA Guide You re in control with an Account-Based Health Plan Philips believes an Account Based Health Plan
More informationHealth. Savings. Accounts. See the difference.
Health Savings Accounts See the difference. Better manage and control your rising healthcare costs and premiums with a Seven Seventeen Health Savings Account. As an employer, providing healthcare benefits
More informationHealth Savings Accounts: Innovative Health Care Financing
Health Savings Accounts: Innovative Health Care Financing Would you be interested in a health insurance program that puts you in control of your own health care dollars, while protecting you and your family
More informationUnderstanding a Health Savings Account
From Roper Insurance & Financial Services Understanding a Health Savings Account Type of Coverage Minimum Annual Deductible Individual $1,300 for 2015 $1,300 for 2016 Family $2,600 for 2015 $2,600 for
More informationConsumer Driven Health Plan (CDHP) with Health Savings Account (HSA)
Consumer Driven Health Plan (CDHP) with Health Savings Account (HSA) Interact with this ebrochure. Here s how. This ebrochure is designed for onscreen viewing, allowing you to navigate through the document
More informationHealth Savings Accounts & High Deductible Health Plans
Health Savings Accounts & High Deductible Health Plans Definitions Consumer Driven Health Plan ( CDHP ) A health insurance plan designed to give you more control over your health care spending. CDHPs incorporate
More informationHSA 101: A Basic Introduction to Health Savings Accounts
HSA 101: A Basic Introduction to Health Savings Accounts Consumer-Driven Healthcare Thinking about, or already enrolled in an HSA-qualified health plan? Learn everything you need to know starting with
More informationHealth Savings Accounts (HSA) A healthy way to save
Health Savings Accounts (HSA) A healthy way to save Invest in your health with an HSA A Health Savings Account (HSA) is an individually-owned, tax-free, interest-bearing savings account that is used to
More informationHealth Savings Account FAQs
General What s a health savings account (HSA)? An HSA is an interest-bearing savings account you fund either with before-tax paycheck deductions through WageWorks McKesson s HSA administrator or with tax-deductible
More informationFocus on Savings. with Health Savings Accounts
Focus on Savings with Health Savings Accounts Health Savings Accounts Putting Your Health Plan to Work for You Find Out How Your Health Plan Can Save You Money The money in your HSA belongs to you and
More informationFrequently Asked Questions
Frequently Asked Questions What is a Health Savings Account (HSA)? A Health Savings Account (HSA) is an alternative to traditional health insurance; it is a savings product that offers a different way
More informationHealth Savings Account (HSA) Frequently Asked Questions
1. What is an HSA? A Health Savings Account (HSA) is a personal bank account created exclusively for individuals to pay for eligible health expenses and save for future healthcare expenses tax-free. Tax-deductible
More information2013 Retiree FAQs Health Savings PPO Medical Plan Option for Pre-Medicare Retirees
2013 Retiree FAQs Health Savings PPO Medical Plan Option for Pre-Medicare Retirees Which retirees are eligible for the Health Savings PPO medical plan option? Pre-Medicare retirees are eligible to enroll
More informationPayPal Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions
PayPal Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions What is the Blue Shield of California CDHP with HSA? The Blue Shield
More informationElecting Pre-tax Dollars To Pay For Your Health Care Expenses
Electing Pre-tax Dollars To Pay For Your Health Care Expenses FSA LPF HSA Your Benefit Options Based On Your Health Insurance Plan BENEFIT OPTIONS You Have Elected a Traditional Health Plan... Low or no
More informationI don t have health insurance, can I get an HSA? Unfortunately, you cannot establish and contribute to an HSA unless you have coverage under a HDHP.
FREQUENTLY ASKED QUESTIONS (Information obtained from US Treasury HSA website) HSA Basics What is a Health Savings Account ( HSA )? A Health Savings Account is an alternative to traditional health insurance;
More informationHealth Savings Account (HSA) Bank Account Frequently Asked Questions & Answers As of October 2014
Health Savings Account (HSA) Bank Account Frequently Asked Questions & Answers As of October 2014 The following provides general information to help answer frequently asked questions about the Health Savings
More informationOrange High Deductible Health Plan (HDHP) with Health Savings Account (HSA) HDHP Basics
Orange High Deductible Health Plan (HDHP) with Health Savings Account (HSA) FAQ (Frequently Asked Questions): The following questions and answers will help you better understand Hope College s New High
More informationHigh Deductible Health Plan (HDHP) with Health Savings Account (HSA) FREQUENTLY ASKED QUESTIONS
High Deductible Health Plan (HDHP) with Health Savings Account (HSA) FREQUENTLY ASKED QUESTIONS Part I HIGH DEDUCTIBLE HEALTH PLAN (HDHP) Q. What is the HDHP? A. The High Deductible Health Plan (HDHP)
More informationHealth Savings Account Frequently Asked Questions
Health Savings Account Frequently Asked Questions WHAT IS AN HSA? A Health Savings Account that allows you and your employer to contribute pre-tax money to be used for qualified medical expenses. HSAs
More informationHSA FAQs. Get the answers you re looking for
HSA FAQs Get the answers you re looking for 1. What is a Health Savings Account (HSA)? 2. How is using an HSA like giving myself a raise? 3. Am I eligible for an HSA? 4. What happens if I don t use all
More informationOld National Health Savings Account
Old National Health Savings Account Overview What is a Health Savings Account? A Health Savings Account (HSA) is an account that can be funded with your tax-exempt dollars, by an employer, or both, to
More informationYour Guide to the Health Care Flexible Spending Account and the Health Savings Account
Your Guide to the Health Care Flexible Spending Account and the Health Savings Account TABLE OF CONTENTS Introduction...1 Health Care Flexible Spending Account...2 What Is The Health Care FSA?...2 When
More informationSUPERVALU: Your Health Savings Account (HSA)
SUPERVALU: Your Health Savings Account (HSA) Frequently Asked Questions 1. What is a Health Savings Account (HSA)? A Health Savings Account (HSA) is a savings account established under the Internal Revenue
More information2015 Health Plan Options Employee Meeting FAQ s
Hormel Foods Health Plans... 1 HSA Questions... 3 FSA & LPFSA... 6 Earning Interest & Investing... 7 Taxes... 8 Retirement & Preparing for Retirement... 8 Miscellaneous... 9 NOTE: These FAQ s are provided
More informationInvesting in a healthy future has never been so easy.
Investing in a healthy future has never been so easy. Gain control of healthcare costs. Build a comprehensive retirement strategy. Discover peace of mind. WHAT IS AN HSA? A health savings account (HSA)
More informationHealth Savings Accounts
1 Health Savings Accounts Health Savings Accounts Our agenda: Basics about HSAs. Eligibility for an HSA. Contribution, deductible & out-of-pocket limits. Account tips. 2 HSAs The Basics What is a Health
More informationFAQs: Health Savings Accounts
What is a Health Savings Account? A Health Savings Account (HSA) is a savings product that allows individuals to pay for current qualified medical expenses and save toward future medical expenses on a
More informationIowa, Illinois, and Tennessee. Heritage Options Health Savings Account HSA
Iowa, Illinois, and Tennessee Heritage Options Health Savings Account HSA The Heritage Options HSA (Health Savings Account) can give you a new, flexible approach to health care. By choosing a qualified
More informationPNC Health Savings Account
PNC Health Savings Account FREQUENTLY ASKED QUESTIONS Thank you for choosing PNC to be your HSA provider. Enclosed is everything you need to know about opening your account. Should you have questions about
More informationGet Started with a Health Savings Account
Get Started with a Health Savings Account www.discoverybenefits.com A combination that puts you in control There s a relatively new way to pay for health care that is gaining popularity; a high deductible
More informationThe Fundamentals of Health Savings Accounts 2013
The Fundamentals of Health Savings Accounts 2013 (revised) VSCPA Benefit Advisors P.O. Box 6505 Glen Allen, Virginia 23058-6505 Tel: 877-998-7272 Fax: 800-317-7337 www.digitalbenefitadvisors.com/vscpa
More informationB The Bancorp Bank HSA Program Overview. for. Excellus
B The Bancorp Bank HSA Program Overview for Overview of The Bancorp Bank HSA Solution for Excellus Agenda Introduction to The Bancorp Bank HSA Eligibility, Features and Benefits Contributions, Distributions
More informationHealth Savings Accounts
HSAs Health Savings Accounts 2014 and 2015 Limits Questions & Answers What is a Health Savings Account (HSA)? An HSA is a tax-exempt trust or custodial account established for the purpose of paying medical
More informationHEALTH SAVINGS ACCOUNT (HSA)
HSAs Triple Tax Advantage Public Employees Benefits Program HEALTH SAVINGS ACCOUNT (HSA) HSAs can be especially beneficial at tax time! One of the key benefits of an HSA is a triple tax advantage! An HSA
More informationStraight Facts About the Advantage+ Health Plan
Benefits and Compensation Annual Enrollment Straight Facts About the Advantage+ Health Plan The Advantage+ health plan has unique features that can appeal to a wide range of employees. The key features
More informationUnderstanding Health Savings Accounts (HSAs) HSA Bank is a division of Webster Bank, N.A., Member FDIC.
Understanding Health Savings Accounts (HSAs) What is an HSA? A tax-advantaged savings account that you use to pay for qualified medical expenses not covered by the CDHP, including deductibles, co-pays,
More information2016 Health Savings Plan and Health Savings Account Questions
2016 Health Savings Plan and Health Savings Account Questions Health Savings Plan (HSP) What is the Health Savings Plan? The HSP is a High Deductible Health Plan (HDHP) with coverage that starts after
More informationbenefits Mayo Pre-Tax Health Savings Account Plan Document and Summary Plan Description January 2015
Plan Document and Summary Plan Description A Component of the Mayo Flexible Spending Account Plan January 2015 benefits TO BUILD ON TABLE OF CONTENTS Table of Contents INTRODUCTION... 3 Pre-Tax HSA Is
More informationAn Introduction to Health Savings Accounts (HSAs)
An Introduction to Health Savings Accounts (HSAs) This document provides some basic information about Health Savings Accounts, including: HSA eligibility HSA contributions HSA distributions How the account
More informationYour Health Savings Account Reference Guide. Your Guide to Understanding a Health Savings Account
Your Health Savings Account Reference Guide Your Guide to Understanding a Health Savings Account Table of Contents The Fidelity HSA...1 Opening and Contributing to Your Fidelity HSA...3 Using Your Fidelity
More informationUnderstanding Health Savings Accounts (HSAs): An Innovative Alternative to help you manage your health care costs.
Understanding Health Savings Accounts (HSAs): An Innovative Alternative to help you manage your health care costs. HSAs are an affordable, innovative way to pay for and manage your health care costs. Anthem
More informationThe Fundamentals of Health Savings Accounts
The Fundamentals of Health Savings Accounts (revised) prepared by Robert H. Spicknall, CEBS Virginia State Bar Members Insurance Center 9954 Mayland Drive, Suite 2200 Richmond, Virginia 23233 Tel: 877-214-5239
More informationWhat is a Health Savings Account (HSA)?
H.S.A. FAQ s Frequently Asked Questions By Topic Health Savings Accounts What is a Health Savings Account (HSA)? Why should I consider getting an HSA? What are qualified medical expenses? What is an HSA-eligible
More informationAetna HealthFund Health Savings Account
Aetna HealthFund Health Savings Account Take control of your health care and your health care dollars! Small Group 41.02.326.1 B (9/08) Aetna is the brand name used for products and services provided by
More informationHealth Savings Accounts (HSA)
What is a Health Savings Account? Health Savings Accounts (HSAs) were created so that individuals covered by qualified highdeductible health plans could receive tax-preferred treatment for money saved
More informationConsumer Choice Plan, Health Savings Account and Health Care Flexible Spending Account Frequently Asked Questions
Consumer Choice Plan, Health Savings Account and Health Care Flexible Spending Account Frequently Asked Questions Information on how the plan and the accounts work The Consumer Choice Plan 1. How is the
More informationManage Health care choices and expenses. The EmblemHealth Consumer Direct Program
Manage Health care choices and expenses The EmblemHealth Consumer Direct Program 1 Employees can manage their health care expenses today and save for their future. There s an alternative for people who
More informationHealth Savings Accounts (HSA)
Health Savings Accounts (HSA) Health Savings Accounts A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in an HSA-qualified
More informationHealth Savings Account/High Deductible Health Plan FAQs re: HSA plan offering
Health Savings Account/High Deductible Health Plan FAQs re: HSA plan offering 1. What services are considered preventive care? See the Open Enrollment website for a complete list of covered services. 2.
More informationHelping you save and pay for health care expenses now and in the future Aetna HealthFund Health Savings Account (HSA)
Quality health plans & benefits Healthier living Financial well-being Intelligent solutions Helping you save and pay for health care expenses now and in the future Aetna HealthFund Health Savings Account
More informationKnow What to Expect: Your Medical Savings Plan User s Guide
Freescale Employee Benefits Know What to Expect: Your Medical Savings Plan User s Guide STOP Read this before you visit the doctor or pharmacy and use it as a handy reference year round! Medical Savings
More informationFrequently Asked Questions
Frequently Asked Questions Gulfstream and many other General Dynamics companies offer a new type of health plan the Personal Health Account Plan. The Personal Health Account Plan is a high deductible plan
More informationComparison of Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs)
Account Overview Tax-exempt trust or custodial account created to pay for the qualified medical expenses of the account holder and his/her spouse or dependents. A cafeteria plan authorized under Section
More informationConsumer Driven Health Plan (CDHP) Questions. Health Savings Account (HSA) Questions:
Consumer Driven Health Plan (CDHP) Questions Q1: What is a CDHP? A: A CDHP is a plan with a high deductible and a Health Savings Account component. The goal of such a plan is to create better consumers
More informationMore savings. More choices. More focus on your health.
More savings. More choices. More focus on your health. It s all possible when you combine the right health plan with a Health Savings Account (HSA). HSA-PreSale-Brochure_FInal_1_12.indd 2 1/13/12 9:04
More informationPayFlex Health Savings Account (HSA) Frequently Asked Questions
OVERVIEW AND ELIGIBILITY REQUIREMENTS What is a Health Savings Account? A Health Savings Account ( HSA ) is a tax-advantaged healthcare account created for the purpose of saving and paying for qualified
More informationHealth Savings Accounts
Raymond James & Associates, Inc. Anne Bedinger, WMS Vice President, Investments 2255 Glades Road, Suite 120-A Boca Raton, FL 33431 561-981-3661 800-327-1055 Anne.Bedinger@RaymondJames.com www.annebedinger.com
More informationLearn What s New. Aetna High Deductible Health Plan with Health Savings Account Quick Guide
Take Care Learn What s New Aetna High Deductible Health Plan with Health Savings Account Quick Guide The Aetna High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) is designed to give
More informationHealth Savings Option with a Health Savings Account (HSA)
Health Savings Option with a Health Savings Account (HSA) The Health Savings Option is a high deductible health insurance plan administered by United Medical Resources (UMR), a United Healthcare Company,
More informationCONSUMER-DIRECTED MODEL COMPARISON HSAs, VEBA Plan, and HRAs
FEATURE Market segment(s) Health Savings Accounts (HSAs) For new sales & transfers from MSA s. Sold as part of Blue Cross Options Blue Plan CONSUMER-DIRECTED MODEL COMPARISON HSAs, VEBA Plan, and HRAs
More informationAetna HealthFund Health Savings Account
Aetna HealthFund Health Savings Account Take control of your health care and your health care dollars! Small Group 41.02.326.1 E (11/10) Aetna is the brand name used for products and services provided
More informationHealth Savings Account (HSA)
Health Savings Account (HSA) with Limited Purpose Flexible Spending Account (LPFSA) University of Rochester Feb 2 and 4, 2015 Aetna Consumer Financial Solutions products are administered by PayFlex Systems
More informationGEHA 2014. Health Savings AdvantageSM High-deductible health plan with a health savings account (HSA) (800) 821-6136 geha.com
GEHA 2014 Health Savings AdvantageSM High-deductible health plan with a health savings account (HSA) (800) 821-6136 geha.com CODE Self Only 341 Self + Family 342 Enrollment checklist 1. Research health
More informationYOUR GUIDE TO A HEALTH SAVINGS ACCOUNT (HSA)
YOUR GUIDE TO A HEALTH SAVINGS ACCOUNT (HSA) DOES A HIGHMARK HEALTH SAVINGS ACCOUNT (HSA) MAKE SENSE FOR YOU? An HSA is a tax-advantaged savings account that s available to people whose health care coverage
More informationFind out what a Health Savings Account can do for you. 2014 HSA Bank. HSA Bank is a Division of Webster Bank, N.A., Member FDIC.
Find out what a Health Savings Account can do for you. What is an HSA? A Health Savings Account, or HSA, is an individuallyowned account used to save and pay for qualified medical expenses. You ll earn
More informationUnderstanding Your Aetna HealthFund Health Savings Account (HSA)
Understanding Your Aetna HealthFund Health Savings Account (HSA) Frequently Asked Questions (FAQs) THE BASICS What is a Health Savings Account (HSA)? An HSA is a tax-advantaged account that you own. With
More informationIn-Network Benefits. NationalOne 2600/5200 HDHP- HSA. NationalOne 200-25. Available to: Deductible. Medical Out-of-pocket Maximum
2 In-Network Benefits Available to: Deductible Medical Out-of-pocket Maximum NationalOne 200-25 ALL Units $200 individual $600 family $500 individual $1,000 family NationalOne 2600/5200 HDHP- HSA Clerical,
More informationHEALTH SAVINGS ACCOUNT FAQs January 2014
Overview Q. What is a Health Savings Account (HSA)? A: An HSA is a pre-tax account you set up with a high-deductible health plan to help pay for or reimburse current and future IRS-approved qualified medical
More informationHealth Savings Account (HSA) 101
HSA 101 Health Savings Account (HSA) 101 What is a Health Savings Account (HSA)? A personal financial account for payment of all medical, dental, vision, & Rx health care expenses free of income or payroll
More informationTHE HEALTH SAVINGS ACCOUNT
THE HEALTH SAVINGS ACCOUNT C O N T E N T S Start Saving Now for Your Future Health Care Needs............. 1 How the BlueEdge Plans and the HSA Work Together............. 3 Tax Advantages of an HSA...................................
More informationHEALTH SAVINGS ACCOUNT
HEALTH SAVINGS ACCOUNT Enjoy A Lifetime of Healthcare Savings With HSA Advantage Your HSA Advantage account works with your HDHP health insurance (High Deductible Health Plan). It allows you to use tax-free
More informationAetna HealthFund Health Savings Account
Aetna HealthFund Health Savings Account Take Control of Your Health Care and Your Health Care Dollars! 14.02.305.1 (10/05) The Aetna HealthFund Health Savings Account (HSA) by Aetna Life Insurance Company
More informationUnderstanding Health Savings Accounts (HSAs) HSA Bank is a division of Webster Bank, N.A., Member FDIC.
Understanding Health Savings Accounts (HSAs) HSA Education What is an HSA? A tax-advantaged savings account that you use to pay for qualified medical expenses not covered by the HDHP, including deductibles,
More informationHow To Pay For Health Care With A Health Savings Account
HDHP FAQs HDHP = High Deductible Health Plan PPO = Preferred Provider Plan, the regular or traditional healthcare plan HSA = Health Savings Account HRA = Health Reimbursement Account FSA = Flexible Spending
More informationHealth Savings Account (HSA) with Limited Purpose Flexible Spending Account (LPFSA) University of Rochester Feb 10 th and 11 th, 2016
Health Savings Account (HSA) with Limited Purpose Flexible Spending Account (LPFSA) University of Rochester Feb 10 th and 11 th, 2016 What is a Health Savings Account (HSA)? An HSA is a health care savings
More informationTogether for a great state of health Health Savings Plan (HSP) with a Health Savings Account (HSA)
Together for a great state of health Health Savings Plan (HSP) with a Health Savings Account (HSA) 2016 Benefits About Blue Shield of California Not-for-profit health plan with over 70 years of experience.
More informationAetna HealthFund Health Savings Account
Aetna HealthFund Health Savings Account Take control of your health care and your health care dollars! 14.02.305.1 B (2/07) The Aetna HealthFund Health Savings Account (HSA) A new way to manage your health
More informationInstructions for Form 8889
2014 Instructions for Form 8889 Health Savings Accounts (HSAs) Department of the Treasury Internal Revenue Service Section references are to the Internal Revenue Code unless otherwise noted. Future Developments
More information5. HEALTH SAVINGS ACCOUNTS AND THEIR ADVANTAGES
5. HEALTH SAVINGS ACCOUNTS AND THEIR ADVANTAGES Clients who are attracted to the premium savings of a ConnectiCare SOLO High-Deductible Health Plan (HDHP) may wish to combine it with a Health Savings Account
More informationHealth Savings Account
Health Savings Account The Exclusive U.S. Bank Five Star Service Guarantee. Other banks promise great service, but only U.S. Bank guarantees it with our exclusive Five Star Service Guarantee. For more
More informationThe Health Savings Account User Guide
The Health Savings Account User Guide C O N T E N T S Start Saving Now for Your Future Health Care Needs............. 1 How the BlueEdge Plans and the HSA Work Together............. 3 Tax Advantages of
More information