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HSA FAQs

Is a Health Savings Account (HSA) right for you?

FAQ #1: What is a Health Savings Account (HSA)?

Answer: A Health Savings Account is used concurrently with a High Deductible Health Plan (HDHP). HSA’s allow you to pay for your current health expenses and save for future qualified medical expenses.

FAQ #2: Does my eye care fall under a “qualified medical expense”?

Answer: Yes!! The amount you pay for contact lenses, eye exams and eyeglasses can be included in medical expenses. You can also include the cost of materials such as saline solution and enzyme cleaner, as well as the amount you pay for eye surgery to treat defective vision. 

FAQ #3: What happens if I have an unused balance in my HSA at the end of the year?

Answer: The unused balance in a Health Savings Account automatically rolls over year after year.

 

Still have questions? Give us a call, we’re happy to talk through HSA planning and options.