Beneficial Links
A comprehensive and affordable benefits program
A Health Savings Account (HSA) is combined with an HSA-compatible health plan to form one of the most affordable and comprehensive benefits programs. The money you save on premiums can be used to help fund the HSA. Once you meet your deductible and out-of-pocket limits, your health plan covers all eligible medical expenses, including eligible prescription drug costs.
Unbeatable tax savings
An HSA is the only account available to provide a triple tax advantage. Funds go into your account on a tax-free (or tax-deductible) basis - funds grow and earn interest on a tax-deferred basis and when used for eligible medical expenses, the funds remain tax-free. You could save between 30-40% in tax savings (depending on your tax status), which can save you thousands of dollars each year. There is no other account that provides a better tax savings advantage!
You are in control
With an HSA, you own the funds and can take them with you even if your employment changes. Since there is no "use-or-lose" restriction with an HSA, you determine when you need to spend your HSA funds. You are truly in control of your health care spending.
Increased control also increases your responsibility - which includes:
| • | Funding of your HSA. Plan for some medical expenses each year by funding your HSA through payroll deductions. At a minimum, target your contributions to cover your annual health insurance deductible, but you can contribute up to the annual HSA maximum allowed each year. |
| • | Ask questions. With any major purchase, such as a car or electronics, you are trained to ask questions. Health care should be no different. Ask about alternative procedures and generic alternatives. |
Bringing convenience to health care payments
Whether you have a doctor's appointment down the street, a prescription from the corner pharmacy, or a bill waiting for you at home, Benefit Resource provides you with convenient access to your HSA funds. The Beniversal Card for HSA allows you to conveniently pay for medical expenses at point-of-sale, while bill payment capabilities allow you to initiate a payment online to the provider.
Save on the medical expenses that you need to buy anyway
A Health Savings Account, much like a Medical Flexible Spending Account (Medical FSA), allows you to set aside tax-free contributions for certain medical expenses. HSA funds can be used for expenses such as:
- doctor's visit co-pays
- chiropractor fees
- emergency room visits
- prescription drugs
- dental care
- prescription eyeglasses
- contact lenses and lens supplies
- hearing aids
- individual psychological counseling
- certain over-the-counter (OTC) medical items
Note: Effective January 1, 2011, HSA funds may no longer be used for OTC drugs and medicines (other than insulin) without a prescription from a medical provider.
 | Sample OTC Chart |