An HSA account is a tax-advantaged* savings account that you can use to pay for a wide variety of health expenses. It’s a great way to save for both day-to-day and future medical costs.

*Please consult with your tax advisor.

A health savings account can help you stay on top of health care costs while providing you tax-free savings.*

Pay lower premiums with a higher deductible health plan

• Pay higher deductibles (when you have medical expenses)
• Make tax-deductible HSA contributions
• Pay for qualified medical expenses with tax-free HSA withdrawals

*Please consult with your tax advisor.

Individuals/Families covered by a High Deductible Health Plan (HDHP), are not currently enrolled in Medicare, and are not eligible to be claimed as a dependent.

HSA funds must be used for a qualified medical expense. Some of those expenses include:

• Doctor’s office visits
• Prescriptions
• Vision expenses
• Dental expenses
• Long-term care insurance

For a complete listing and explanation of qualified medical expenses, visit www.irs.gov and search for Publication 502.

Yes, but the funds will be subject to income tax and a 20% IRS penalty (penalty does not apply after age 65).

You can make contributions to your HSA through direct deposit, mobile deposit, ATM deposit, payroll deductions, at any Gesa Branch, or by calling 888.946.4372.

The IRS says “any eligible individual can contribute to an HSA. For an employee’s HSA, the employee, the employee’s employer, or both may contribute to the employee’s HSA in the same year. For an HSA established by a self-employed (or unemployed) individual, the individual can contribute. Family members or any other person may also make contributions on behalf of the eligible individual.”

Please keep in mind:

• The total amount for the year from all sources cannot exceed the HSA owner’s limit.
• For HSAs at Gesa, please remember to use the HSA account number, never the plan number, for contributions.

The funds in your HSA are linked to your HSA checking account. When you write checks or use your HSA debit card, funds will be automatically withdrawn from the account. Your HSA will be available for viewing and transactions through Gesa’s Online or Mobile Banking, including contribution/distribution transfers and bill pay transactions. You can also access funds from your HSA by visiting any Gesa Branch or calling 888.946.4372. Your HSA balance and transaction history will be provided to you on your regular combined statement.

Please work with your tax advisor on any tax-related questions in regards to this account, including contributions and withdrawals.

The IRS document “Publication 969, Health Savings Accounts and other Tax-Favored Health Plans” (www.irs.gov) is a complete overview of HSAs.

Your employer will be able to answer some of your questions regarding your specific coverage and eligibility.