Invest in your health with a. Health Savings Account. Today we ’ ll be answering these common HSA questions:. Hello. What is it?. What can it be used for?. Why should I have one?. How does it work?. Who is eligible?. How easy is it to manage?. What is an HSA?. A personal savings account.
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Health Savings Account
What is it?
What can it be used for?
Why should I have one?
How does it work?
Who is eligible?
How easy is it to manage?
A personal savings account
for your medical expenses
Paired with a high-deductible health plan
Financial account owned by you
Pays for current and future medical expenses
Health Savings Accounts
have special advantages
Unused funds rollover
Employer contributions belong to you and are not taxable
Pretax contributions, through payroll deduction, can be changed at any time
Post-tax contributions are an “above-the-line” deduction
Contributions can be made up to the date tax returns are dueHow does it work?
Contributing to an
HSA is easy
We make it easy for you
to access your HSA funds
HSA Debit Card
Out-of-pocket with online reimbursement
Expenses must be incurred after HSA is established
Expenses are reimbursed up to the HSA balance
No time limit on reimbursement requests
Keep all receipts in case you’re audited by the IRS
Ineligible expenses are taxable and can be penalizedHow does it work?
A few things to know about
using your HSA funds
View your account 24/7
Request reimbursement (submit a claim)
Pay health care providers from your HSA
Authorize access to SelectAccount customer service on your behalf
View account activityHow easy is it to manage?
Managing your HSA is easy