Frequently Asked Questions

HSA FAQs
HSA
Stacked Card FAQs
Stacked Card
FSA FAQs
FSA

HSA FAQs

Who is HSA Bank?
Who is eligible to open an HSA?
What is HSA Bank's routing number?
What is a "high-deductible health plan"?
What other kinds of health coverage can I have and still be eligible to open an HSA?
May a husband and wife have a joint HSA?
Who can contribute to my HSA?
Do I need earned income in order to contribute to an HSA?
Are there limits to how much I can contribute to my HSA?
What is a "catch-up" contribution?
If I do not have an HSA-compatible health plan for an entire calendar year, how much can I contribute?
Is there a deadline for contributions made to an HSA?
What happens when I exceed the yearly maximum amount of HSA contributions?
What are the "IRS-qualified medical expenses" that I can pay for with my tax-free HSA funds?
Are health insurance premiums considered IRS-qualified medical expenses?
Can I use my tax-free HSA savings to pay for — or reimburse myself for — IRS-qualified medical expenses from a previous year?
Who is responsible for making sure HSA funds are only used to pay for IRS-qualified medical expenses?
Can my HSA funds ever be taxed?
What types of investments can I use HSA funds for?
Can I rollover or transfer money from a previous medical savings account (MSA) or HSA to my current HSA at HSA Bank?
Can I use my HSA for non-medical expenses after age 65?
Once I am on Medicare, can I use my HSA for my premiums?

Stacked Card FAQs

The key to a successful Consumer-Directed Health Plan is simplicity of use. As a primary tool to make transactions easier for plan participants, HSA Bank offers a Stacked Card — one card that can be used to pay for medical-related expenses across all accounts. A stacked card can be used in conjunction with Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and Flexible Spending Accounts (FSAs).

What is a Stacked Card?
How does it work?
What if a transaction is not auto-substantiated?
What are the benefits to the employer?
What are the benefits to the participant?
Why the HSA Bank Stacked Card?
What are the employer benefits of offering a Health Reimbursement Arrangement (HRA)?
Why select our HSA Bank HRA Arrangement?
What are the employee benefits of having an HRA?

FSA FAQs

What is the benefit of having a Flexible Spending Account (FSA)?
How does an FSA work?
What is A Healthcare FSA?
What is a Limited Purpose Medical FSA?
What is a Dependent Care FSA?
What is the advantage of having an FSA with HSA Bank?
Is an FSA right for employees?