1. Health Savings Accounts (HSAs)
Information

2. Why Enroll? Savings Savings Savings!
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Why Enroll? Savings Savings Savings!
How it works: Assume “Melissa” earns $35,000 a year and has $1,500 in eligible expenses.
With HSA
No HSA
Annual Pay
$35,000
Pre-tax HSA Contribution
-$1,500
-$0
Taxable Income
=$33,500
=$35,000
Federal income and Social Security Taxes
-$7,362
-$7,852
After-tax dollars spent on eligible expenses
Spendable income
=$26,138
=$25,648
Melissa’s Tax Savings
$490 $0
HSAs can cover medical, dental or vision, and dependent child care expenses that you would otherwise pay for using personal funds, potentially saving you hundreds in taxes.
In this example, Melissa contributed $1,500 to her HSA. Because her contributions are taken out pre-tax, she does not pay taxes on the money contributed to her HSA, saving her $490 per year!
You’ll also find that HSAs are especially useful when large health care expenses, like braces or laser eye surgery, are on the horizon.
*Sample tax savings for a single taxpayer with no dependents; actual savings will vary based on your individual tax situation. Consult a tax professional for more information. This HSA Savings calculator was created by ConnectYourCare to be illustrative of typical results of typical participants in similar type benefits programs. The accuracy of the results are predicated upon the input provided by the user, and as such, ConnectYourCare disclaims the accuracy of any results shown. This calculator is intended merely as a planning tool and is not meant as tax or investment advice. Before taking any action based upon the results provided, please consult with a tax consultant or expert. - See more at:

3. Savings Add Up Over Time
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Savings Add Up Over Time
Let’s say you contribute $3,000 a year to your HSA each year until retirement. Assuming you use $1,500 a year for medical expenses, earn 8% a year in interest and investments, and reinvest all earnings, your savings can really add up.*
Starting Age
HSA Value at age 65 25
$419,680 35
$183,523 45
$74,137 55
$23,469
Let’s look at those savings over time. An employee who opens an HSA at age 25, contributes 3,000 a year, but only uses $1,500 a year for expenses, could see it grow to over $400,000 by age 65! The growth could be even more if the HSA remains untouched.
*ConnectYourCare calculator: HSA Growth Estimator - created by ConnectYourCare to be illustrative of typical results of typical participants in similar type benefits programs, and does not take into account specific situations such as filing status or variances in state tax law. The accuracy of the results are predicated upon the input provided by the user, and as such, ConnectYourCare disclaims the accuracy of any results shown. This calculator is intended merely as a planning tool and is not meant as tax or investment advice. Before taking any action based upon the results provided, please consult with a tax consultant or expert. - See more at:

4. HSA Interest and Investment Options
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HSA Interest and Investment Options
Interest-Bearing Savings Account
Interest paid on balances of $1.00 or more
FDIC-insured
Investment Options to Grow HSA Funds
Choose from a variety of world-class mutual funds covering a range of fund families
Easy, online platform allows you to set up investments within minutes
Recurring investment options for automated savings
Your HSA will earn interest from day one. You’ll also have the option to open an HSA Investment Account. HSA Investment Accounts from ConnectYourCare are simple to open and manage--you can set up an account in minutes.
Because your HSA Investment Account is linked to your HSA cash account, you can easily liquidate any investment, in part or in full, to pay for health care expenses.
Through your HSA Investment Account, you will have access to a wide range of fund choices, designed to suit your individual needs and financial goals, managed by some of the most well-respected names in financial services such as Vanguard, Schwab, Fidelity, BlackRock, PIMCO and more. As with any investment account, HSA investments are not Federal Deposit Insurance Corp. (FDIC) insured, and are subject to risk and fluctuations in value. Pleaseconsult with a financial planner for investment advice.
Investments funds are not Federal Deposit Insurance Corp. (FDIC) insured, not bank issued or guaranteed, and are subject to risk, including fluctuations in value and the possible loss of the principal amount invested. Please consult your financial planner for more information.

5. Contribution Limits Maximum Annual Contributions for 2019
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Contribution Limits
Maximum Annual Contributions for 2019
Individual: $3,500
Family: $7,000
Maximum Annual Contributions for 2020
Individual: $3,550
Family: $7,100
For individuals age 55 and older, additional “catch-up” contributions allowed
$1,000 – 2019 and 2020
The IRS adjusts the amount you are allowed to contribute to your HSA each year based on who is covered by your HSA eligible high deductible health plan. For 2019, it’s $3,500 for self-only coverage and $7,000 for family coverage. For 2020, it’s $3,550 for self-only coverage and $7,100 for family coverage. This maximum includes all contributions from all sources, including employer, employee and other contributions. It may be less if you do not remain HSA eligible for the full year.
If you are 55 or older, you are allowed to contribute an extra $1,000 in 2019 and
Contributions can be made at any time during the year, and may be made up until the tax filing deadline (April 15) of next year.
It’s important to understand that account holders are responsible for ensuring their contributions are within the legal limits. If you over contribute, you may be subject to tax penalties.

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HSA Distributions
Distributions allowed at any time without restriction
Distribution is tax-free if taken for “qualified medical expenses” incurred by one of the following after HSA was established:
The account holder
Spouse of the account holder
Any dependent of the account holder
even if not covered by the HDHP
Qualified medical expense must be incurred on or after the HSA was established
If HDHP coverage effective on first day of month, HSA can be established as early as first day of same month
If HDHP coverage effective any day other than first day of month, HSA cannot be established until first day of following month
Account holders can use HSA funds at any time for qualified medical expenses. Even if the account holder is no longer HSA-eligible, he or she may still access funds. Funds can be used to cover qualified medical expenses for the account holder as well as the account holder’s spouse and dependents.
However, HSA funds only cover expenses that occurred after the HSA was established. The HSA establishment date depends upon the date the qualified HDHP coverage becomes effective.
Even with the availability of your HSA funds to pay for healthcare expenses, it’s important to remember to always show your health insurance card when visiting a provider. This will ensure that you are getting charged the correct amount for the visit and that your deductible is being accumulated correctly.

7. HSA Funds Never Expire! Your HSA is yours forever!
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HSA Funds Never Expire!
Your HSA is yours forever!
If you have unused funds at the end of the plan year, they will automatically roll over to the next year and will still be accessible
(Note: Funds that roll over from the previous year are not considered as part of your contribution limits)
Your HSA goes with you!
Your HSA will follow you for life, even if you get a new employer, change health care coverage, or retire
An HSA is your account. It NEVER expires, and funds ALWAYS roll over. Even if you change jobs, health care coverage, or retire, your HSA is always yours to keep.

8. Who is Eligible for an HSA?
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Who is Eligible for an HSA?
Any individual or employee can open and make contributions to an HSA, if they meet all of the following requirements:
Covered by a qualified HDHP
Not covered by other health insurance
Not enrolled in Medicare
As of January 1, 2016, in the past 3 months, did not receive Veteran’s Administration benefits that were not connected to a service disability
Can’t be claimed as a dependent on someone else’s tax return
Children who are tax dependents cannot establish their own HSAs
Spouses can establish their own HSAs, if eligible
No income limits on who may contribute to an HSA
No requirement of having earned income or being employed
There a few requirements to open an HSA:
You must be covered by a qualified HDHP and not covered by other health insurance, including a spouse’s plan. You cannot be covered under a General Purpose FSA or HRA, including your spouse’s general purpose FSA or HRA. Certain types of additional coverage are allowed, however, including Workers’ Compensation, Specific disease coverage, Disability, Dental and vision, and Long term care.
You cannot be covered by Medicare. Nor can you receive Veteran's benefits not connected to a service industry.
Finally, you cannot be claimed as a dependent on someone else's tax return.
Please note, these are the requirements to start, or open an HSA. Once an HSA is established, you may always have access to the funds in it. However, if you become ineligible at any point in the future, you may no longer contribute funds to your HSA during the period that you are ineligible.

9. Coordination Between Spouses
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Coordination Between Spouses
HSAs are individual accounts
In general:
If both spouses meet the HSA eligibility requirements, both may open an individual HSA (optional).
If both spouses have self-only HDHP coverage, they can each establish an HSA and contribute up to the individual limit (2019: $3,500, : 3,550).
If one or both spouses has family HDHP coverage, they can each open an HSA but can only contribute up to the family maximum (2019: $7,000, 2020: $7,100), plus any applicable catch up contribution ($1,000 to each eligible HSA).
A handout showing the various coverage scenarios is available.
Qualified medical expenses of a spouse can be paid from your HSA, regardless of whether the spouse is HSA eligible themselves.
If your spouse is the designated beneficiary, your HSA is treated as your spouse’s HSA after your death.
In general, the eligibility and contribution rules apply to married couples. The exception is that if either spouse or both have family HDHP coverage, then they can only contribute up to the family maximum in total during the tax year. They can split the total 50-50, or divide it differently by mutual agreement. For example, if one spouse has family HDHP coverage and the other has single HDHP coverage, they cannot contribute more than the contribution limit. If one or both are over age 55, they can also contribute the $1000 catch up contribution. The $1000 catch up contribution must be made to the HSA of the person over 55. If both are over 55, they can each add $1000 to their HSA.

10. Covering Children HDHPs allow coverage for children up to age 26.
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Covering Children
HDHPs allow coverage for children up to age 26.
If your child can be claimed as a dependent on anyone’s tax return s/he is not eligible to open or contribute to an HSA.
If your child is eligible to have been claimed as a dependent on your tax return, you may cover their qualified medical expenses from your HSA.
Your child is eligible to open an HSA if s/he has no other health coverage except for qualified HDHPs (with the exceptions previously noted) AND is not ELIGIBLE to be claimed as a dependent on anyone else’s tax return.
For example, if you have a family HDHP, your child could open their own HSA if they have no other health insurance coverage and are no longer qualified to be a dependent on your (or anyone else’s) tax return.
This child would be able to contribute up to the family maximum.
Similar eligibility and contribution rules apply to your children’s coverage as well, but let’s lay out some specifics. It’s important to note that they cannot be ELIGIBLE to be claimed as a dependent on anyone’s tax return, not just that they are NOT claimed as a dependent. Let’s run through an example…
So, if your child is eligible to be included as a dependent on your tax return, you can pay for their qualified medical expenses from your HSA.

11. Examples of Qualified Medical Expenses
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Examples of Qualified Medical Expenses
Acupuncture
Flu shot
Physical therapy
Ambulance
Hearing aids
Prescription drugs
Artificial limb
Hospital services
Psychiatric care
Birth control pills
Immunization
Retiree (post-65) medical insurance premiums (post tax)
Blood pressure monitoring
Insulin and diabetic supplies
Surgery
Breast pumps
Laboratory fees
Sunscreen
Chiropractic care
Laser eye surgery
Wheelchair, walkers, crutches and canes
COBRA premiums (post tax)
Long-term care premiums or expenses (post tax)
Contact lenses
Medical testing devices
Dental treatment
Nursing services
Dentures
Orthodontia (not for cosmetic reasons)
Diagnostic services
Drug addiction treatment
Over-the-counter (OTC) treatments – products containing medicine require prescription
Eye exam
Eye glasses
Family planning items
Physical exam
Fertility treatment
There are hundreds of uses for your HSA funds, including medical, dental, vision, prescription expenses and some insurance costs for you, your spouse or your dependents. Here are just some examples of qualified HSA expenses, as deemed by the IRS.
It’s also important to know what expenses are not HSA qualified. Cosmetic procedures and products are not covered, nor are gym memberships or dental products like toothbrushes or toothpaste. It is important to know what is and what is not qualified. You can see in more details at connectyourcare,com

12. Easy Access to Your Account
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Easy Access to Your Account

13. Online Participant Portal
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Online Participant Portal
Online access to:
Account balances
Transaction history
Reimbursement requests
Pay your provider
Investment options
Update personal information
Health education and wellness tools
FAQs, guides and tips
Enrolled employees have access to an online portal, an online one-stop-shop for account information and health education tools. In here, you can view account balance and transactions, submit and view claims and reimbursement requests, manage personal and direct deposit bank information and access a variety of health education tools.

14. Mobile Solutions Mobile App Mobile Alerts and Texting
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Mobile Solutions
Mobile App
Available for Android and iOS devices
Account balance, alerts and transaction history
New payment requests
Tap to call Customer Service
Upload claim documentation with your device’s camera
Eligible expense scanner for UPC barcodes
Mobile Alerts and Texting
Request and receive account information and alerts via text message
Sign up for this feature through your online account
myCYC, the mobile app, gives you a quick and easy way to access your account on the go. Just download from your app store and you’ll have a secure and simple way to check your account and make payment requests.
CYC also offers a texting option, simply register for Mobile Alerts online and you’ll be able to request information via text.

15. Payment Card for HSA Easiest way to pay!
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Payment Card for HSA
Easiest way to pay!
Accepted at qualified care locations
Pay for qualified health care expenses, deducts from your HSA
No need to pay up front and wait for reimbursement
Multiple CYC accounts are accessible with the same card (if offered by your employer)
You will be issued a payment card to easily access account HSA funds. The card will be mailed to your home address. Please be on the look out for the card so you do not accidentally throw it away!
I know this is little confusing, but even though the card says “debit” on the front, when you swipe the card at the merchant, please select the “credit” option to bypass having to enter a PIN.
Your card is merchant coded and will work at all IRS compliant merchants. When you use your card, always remember to save documentation. ConnectYourCare may require them to substantiate the eligibility of a purchase, or the IRS may require them at tax time. Keep in mind that only itemized receipts can be used to substantiate the eligibility of a purchase.

16. Payment Requests Request payment directly to your provider.
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Payment Requests
Request payment directly to your provider.
Pay with personal funds and request reimbursement.
Enter a payment request online or on the mobile app.
Payment will be sent directly to your provider.
Pay for a qualified expense using personal funds
Enter your claim online or using the mobile app
Receive reimbursement via check or direct deposit
Tip: Set up direct deposit for faster reimbursements!
If using the card is not possible – like the provider does not accept credit cards or you left the card at home – you have two options. Whether you use your card or not, always show your health insurance card when paying for any health care service to ensure that you will be properly charged.
1. You may request we send payment directly to your provider. Simply enter a request online or on the mobile app.
2. Or, you may pay for purchases using personal funds and request reimbursement online or via the mobile app. The online and mobile reimbursement request process is quick and easy. Simply login and follow the instructions to submit a new claim. Once your claim is received, you can view your claim online to ensure it’s been received correctly.
ConnectYourCare will process your claims in a matter of days. Once approved, reimbursements will be issued to you via check or direct deposit. You can get your reimbursement faster if you set up direct deposit online!!!

17. HSA Save-It! Works for Everyone
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HSA Save-It! Works for Everyone
Everyone has different needs, but HSA Save-It! can help..
Whether you use your HSA for health expenses today, as a tool for long-term savings, or a combination of both, HSA Save-It! is the quick and simple solution.
Whether you cash out your HSA savings in 2 days or 20 years, making a withdrawal is fast and easy with HSA Save-It!
HSA Save-It! is a great feature available to you with your CYC HSA. It allows you to pay for eligible expenses using personal funds, then log those expenses in their online account under HSA Save-It!. Then, when you are ready, cashing out HSA funds in the future is quick and easy. All the IRS required information is right there!

18. HSA On Demand® Has You Covered
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HSA On Demand® Has You Covered
Unexpected medical expense? Not enough saved? No problem.
Funds are there when you need them
HSA On Demand automatically advances up to a year’s worth of contributions if needed
Advance is repaid through future contributions
Your HSA comes with a special feature called HSA On Demand. HSA On Demand makes your full annual election amount available on the first day of your plan year, giving you access to the funds you need to cover your care right away.
Think of it like overdraft protection...This way, if you have claims that occur early in the year, you have funds to cover the cost. Your contributions continue as scheduled to repay the amount advanced.
The best part about this feature is that it is automatic. You do not have to lift a finger to use it or to repay it. The advance funding feature will automatically kick in if you need it, and your contributions will continue as scheduled.
There are no penalties or payments with this feature - your future HSA contributions are available to you interest free.
When can I request reimbursement from my account? You can access your account as soon as your coverage starts.
How will I know if I need to submit documentation to ConnectYourCare for substantiation? You will get an or a letter within a week of your payment card swipe or you can log in and go to the Claim Center.
What if I don’t submit my documentation? You will need to refund the amount of the transaction or your payment card will be deactivated. If you fail to reimburse the account, the amount of the ineligible expenses may be added to your W-2 or withheld from your pay (at your employer’s discretion).
Visit for more Frequently Asked Questions.
Thank you for your time. We hope that you enjoy the significant advantages offered through a Flexible Spending Account and we look forward to serving you through the administration of your healthcare account.

19. Customer Service Always Available
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Customer Service Always Available
Best-in-class service to participant through multiple channels
Live Customer Assistance
Available 24/7, 365 days a year
Detailed questions or personal assistance
Trained in adjudication and call assistance
Automated Phone Assistance
Account information
User name reminder or password reset
Online Portal, Mobile App, Mobile Browser and Mobile Alerts
Real-time account balances and transaction information
We connect with participants on their terms. We offer round-the-clock support to participants via live support or online or through mobile technology.
When can I request reimbursement from my account? You can access your account as soon as your coverage starts.
How will I know if I need to submit documentation to ConnectYourCare for substantiation? You will get an or a letter within a week of your payment card swipe or you can log in and go to the Claim Center.
What if I don’t submit my documentation? You will need to refund the amount of the transaction or your payment card will be deactivated. If you fail to reimburse the account, the amount of the ineligible expenses may be added to your W-2 or withheld from your pay (at your employer’s discretion).
Visit for more Frequently Asked Questions.
Thank you for your time. We hope that you enjoy the significant advantages offered through a Flexible Spending Account and we look forward to serving you through the administration of your healthcare account.

20. Frequently Asked Questions
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Frequently Asked Questions
How much can I contribute to my HSA?
For 2019, you can contribute up to $3,500 for individual coverage and $7,000 for family coverage. For 2020, you can contribute up to $3,550 for individual coverage and $7,100 for family coverage.
Individuals ages 55 or older can make additional "catch-up" contributions of up to $1,000 per person.
How will I be able to access my account funds?
You will receive a payment card to access your HSA funds. You can also pay for eligible expenses with any other form of payment and request reimbursement from your account.
When can I request reimbursement from my account?
You have access to the account when your plan becomes effective.
Will I lose my account if I don’t use it?
No, your account never expires! It’s yours to use forever.
Here are some of the most frequently asked questions we hear about HSAs.
How much can I contribute to my HSA?
For 2019, you can contribute up to $3,500 for individual coverage and $7,000 for family coverage. For 2020 you can contribute up to $3,550 for individual coverage and $7,100 for family coverage. There is an additional $1,000 “catch-up” if you are 55 or older.
How will I be able to access my account funds?
Your payment card will be the easiest way to access your HSA funds or you can pay for your expenses with any other form of payment and request reimbursement from your account.
When can I request reimbursement from my account?
You have access to the account as soon as it is opened. You may use your account to pay for eligible expenses once your plan year starts.
Will I lose my account if I don’t use it?
No! There are no deadlines with an HSA. It is yours for ever.
Visit for more Frequently Asked Questions.
Thank you for your time. We hope that you enjoy the significant advantages offered through a Health Savings Account and we look forward to serving you through the administration of your healthcare account.