A Health Savings Account (HSA) is an awesome tool to have when participating in the TRS ActiveCare 1-HD (high-deductible) Plan. We know that by participating in TRS ActiveCare 1-HD you are subject to a higher deductible, which potentially means significant out-of-pocket expenses. The HSA is there to help with these out-of-pocket expenses. Here are some key points:
- 2019-2020 Plan Limits including the YES Prep contribution:
- Funds are NOT use-it-or-lose-it so they roll over from year-to-year.
- YES Prep contributes $50 per month to this account (up to $600 for the plan year) if you are enrolled in ActiveCare 1-HD.
- Employees are not required to make contributions to the account and still receive the funds from YES Prep. However, you also are able to make individual contributions to the account to further assist with eligible expenses.
- Your account must be open and active at funding, otherwise, you will forfeit that month’s contribution.
- You CANNOT actively contribute to (or receive funds to) an HSA and a Traditional FSA account at the same time.
- You may contribute to (and receive funds to) an HSA and Limited FSA account at the same time.
- Access your account online
- Store health expense data and receipts
- File claims or distribution requests
- Initiate a provider payment
- Consolidate health expenses and claims from multiple insurance providers
- View an easy to read snapshot of your healthcare finances with charts and graphs
Check out some additional resources we have provided to help you better understand how this plan works so you are prepared and educated on all of our great benefits.
This guide is your one stop shop for information on coverage options and insurance rates.
You can pay for a wide range of IRS-qualified medical expenses with your HSA, including many that aren't typically covered by health insurance plans. This includes deductibles, co-insurance, prescriptions, dental and vision care, and more. For a complete list of IRS-qualified medical expenses, visit www.irs.gov
Provides you great insight into how funded plans operate from a cash flow perspective.
HSA Bank requires you to submit a form to confirm your name change.
Online Resources & Apps
•Store health expense data and receipts •File claims or distribution requests •Initiate a provider payment •Consolidate health expenses and claims from multiple insurance providers* •View an easy to read snapshot of your healthcare finances with charts and graphs
Access your account on the go
Helpful Website Demos and How-To videos.
HSA Bank Customer Service