Your top Health Savings Account (HSA) questions answered.
The following is a list of common items you can pay for using your Health Savings Account (HSA):
- Your deductibles and coinsurance for:
- Medical care
- Behavioral health care
- Premiums for COBRA coverage
- Retiree medical expenses
- Long-Term Care Insurance premiums
If you use your HSA funds for expenses that are not eligible, those funds will be subject to regular income taxes and a 20% penalty fee if you are audited by the IRS. Remember, your bank will file a form with the IRS showing the distributions from your account.
Before paying, be sure to review the list of eligible expenses.
You will have an HSA account with Bank of America, JP Morgan Chase* (Cigna) or Optum Bank (UnitedHealthcare). You can pay medical bills using your HSA debit card or log in to your HSA bank website to pay a provider online.
*Effective February 20, 2016, JP Morgan will no longer be the trustee of this account. HSA Bank will become the new trustee and Cigna will be sending information to account holders.
The following video is a sample of how to pay bills with an UnitedHealthcare HSA with Optum Bank:
Get rewarded for getting healthy. The Wellness Perks Program allows you to earn money for taking healthy actions—up to $250 (you) or $500 (you + your covered spouse or partner)! The money you earn gets deposited in your Health Savings Account (HSA)*. Get started on PBprojectliving.com or talk to a Wellness Champion at your work location.
*Presort Services/FDR employees will receive cash payout in their paycheck as taxable income.
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