Invest in your health with a Health Savings Account

Hello Today well be answering these common HSA questions: What is it? What can it be used for? Why should I have one? How does it work? How easy is it to manage? Who is eligible?

What is an HSA? Financial account owned by you Paired with a high-deductible health plan Pays for current and future medical expenses A personal savings account for your medical expenses

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

What can an HSA be used for? 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 Helps you pay for a variety of eligible medical expenses

How does it work? 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 Contributing to an HSA is easy

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

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

How does it work? 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 youre audited by the IRS Ineligible expenses are taxable and can be penalized A few things to know about using your HSA funds

How easy is it to manage? 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 Managing your HSA is easy with SelectAccout.com

Were here to help Monday thru Friday 7 a.m. to 7 p.m. CST Our expert, friendly service team is here to answer your questions SelectAccount.com Your Online Member Service Center