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Invest in your health with a

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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Invest in your health with a

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  1. Invest in your health with a Health Savings Account

  2. 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?

  3. What is an HSA? 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

  4. Why should I have one? Health Savings Accounts have special advantages Unused funds rollover Triple tax savings Investment opportunities Account portability

  5. Health plan eligible expenses Vision and dental expenses Over-the-counter (OTC) items COBRA premiums Medicare premiums (for people 65 and older) Health insurance while receiving unemployment Long-term care insurance What can an HSA be used for? Helps you pay for a variety of eligible medical expenses

  6. Employers and/or employees can contribute 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 due How does it work? Contributing to an HSA is easy

  7. 2014 maximum contributions: $3,300 Employee-only coverage $6,550 Family coverage How does it work? Maximize your contributions and your savings potential 55+ catch-up contributions: $1,000

  8. How does it work? We make it easy for you to access your HSA funds Direct deposit HSA Debit Card Out-of-pocket with online reimbursement

  9. Only withdrawals for qualified medical expenses are tax free 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 penalized How does it work? A few things to know about using your HSA funds

  10. Register with the site to: View your account 24/7 Request reimbursement (submit a claim) Check balance Make contributions Pay health care providers from your HSA Authorize access to SelectAccount customer service on your behalf View account activity How easy is it to manage? Managing your HSA is easy with SelectAccout.com

  11. 1.800.859.2144 651.662.5065 Monday thru Friday 7 a.m. to 7 p.m. CST We’re here to help Our expert, friendly service team is here to answer your questions • SelectAccount.com • Your Online Member Service Center

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