Frequently asked questions about health savings accounts

Who is eligible to open an HSA?

Anyone may apply for an HSA and its companion high-deductible health insurance policy, though individuals with serious pre-existing medical conditions may find it difficult to find a provider willing to accept them.

Where can I open an account?

Does an HSA pay for the same things that regular insurance pays for?

HSA funds can pay for any qualified medical expense, even if they are not covered by your health insurance. For example, most health insurance does not cover the cost of over-the-counter medicines, but HSAs can. If the money from the HSA is used for qualified medical expenses, then the money spent is tax-free.

Do unused funds in an HAS roll over?

Yes, the unused balance in an HSA automatically rolls over year after year. You will not lose your money if you don't spend it within the year.

Where can I get more information about HSAs?

http://www.hsainsider.com/ http://www.treas.gov/offices/public-affairs/hsa/ http://www.ehealthlink.com/HSA.asphttp:// http://sbinformation.about.com/od/insurance/a/ucHSA.htm http://www.goldenrule.com/ or 800-974-4472