FSA & HSA

Administered by HSA Bank. Available with the Cigna High Deductible with HSA Plan only.

• Eligibility: You must be enrolled in an HDHP to participate.
• You are enrolled in an HSA-eligible High Deductible Health Plan.
• You are not covered by your spouse’s or parent’s non-HDHP.
• You do not or your spouse does not have a Healthcare Flexible Spending Account or Health Reimbursement Account.
• You are not eligible to be claimed as a dependent on someone else’s tax return.
• You are not enrolled in Medicare or TRICARE.
• You have not received Department of Veterans Affairs medical benefits in the past 90 days for non-service-related care. (Service-related care will not be taken into consideration.)
• Funding: Pre-tax Paycheck Contributions; Employer Pre-tax Contributions
• Tax advantages: HSA contributions are made through payroll deduction on a pre-tax basis when you open an account with HSA Bank. The money in your HSA (including interest and investment earnings, if any) grows tax-free. When the funds are used for qualified medical expenses, they are spent tax-free.*
• Rollover: Your HSA is a personal bank account that you own and manage. You decide how much you contribute, when to use the money for medical services and when to reimburse yourself. You can save and roll over HSA funds to the next year if you don't spend them all in the calendar year. You can even let funds accumulate year over year to use for eligible expenses in retirement. HSA funds are also portable if you change plans or jobs. There are no vesting requirements (you own all contributed HSA funds immediately) or forfeiture provisions (you keep all HSA funds whether you leave the company or retire).
• Eligible expenses: Eligible expenses include doctors’ visits, eye exams, prescription expenses, laser eye surgery, menstrual products, PPE, over-the-counter medications, and more. Visit IRS Publication 502 on www.irs.gov for a complete list.
• Documentation: no need to submit receipts for reimbursement