What is BenefitWallet HSA?
What is BenefitWallet HSA?
BenefitWallet – HSA. A Health Savings Account (HSA) is an important component of your BenefitWallet and an integral part of your high deductible health plan strategy. Training: Employer HSA training includes product training and training related to enrollment, payroll and reporting.
What can I use my HSA for BenefitWallet?
Funds in your HSA can be used to pay for any out-of-pocket expense that you owe as part of your health plan — doctor’s visits, prescriptions, lab tests, and hospitalizations. Additionally, dental, vision, acupuncture, and chiropractic expenses can also be paid with your HSA.
Can I use my HSA account for gas?
Fuel – Gas costs for travel to and from a medical care facility are eligible for reimbursement, however you’ll need to keep a mileage log and provide receipts for your gas purchase when you submit a claim. Tolls incurred for anything other than travel to and from your medical appointment are not eligible.
Can I use my HSA card at a ATM?
You can use your HSA card at an ATM to reimburse yourself for eligible expenses paid out-of-pocket. (A transaction fee may apply. See your HSA Bank Fee and Interest Rate Schedule.)
Can I use HSA to buy vitamins?
Generally, weight-loss supplements, nutritional supplements, and vitamins are used for general health and are not qualified HSA expenses. HSA owners usually cannot include the cost of diet food or beverages in medical expenses because these substitute for what is normally consumed to satisfy nutritional needs.
Can I return funds to my HSA?
If you can show “clear and convincing” evidence that a non-qualified expense was made by mistake, you are allowed to return the money to your HSA account and avoid the penalty.
How does an HSA work in a benefitwallet plan?
A Health Savings Account (HSA) is an important component of your BenefitWallet and an integral part of your high deductible health plan strategy. The idea is simple: after enrolling in a qualified High Deductible Health Plan (HDHP) and opening an HSA, members can use accumulated tax-free contributions to pay for health care costs…
What are the tools to open an HSA account?
Decision support tools include tax savings calculators, HSA contribution and savings calculators, plus a plan selector tool to help you choose the plan that is right for you. HSA account opening can be completed electronically concurrent with employer benefits enrollment or through our website.
How does an employer contribute to an HSA account?
Enrollment and account opening screens can be directly embedded in an employer’s enrollment platform or members can follow a linked approach to open accounts electronically. HSA payroll contributions can be made by employers in any amount and at any time.
Who is the client service manager for HSA?
Service management: For larger employers, we assign a client service manager (CSM) to support the implementation and ongoing administration of your HSA program. Implementation: We develop and support an implementation work plan to coordinate with the rollout of your HDHP.
