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Last Updated: 02/28/2018
in FSA/HRA/HSA FAQ's No, you can use funds only for the purpose for which the election was initially made. IRS regulations do not allow funds to be transferred or commingled between accounts. So, the money in your Health Care FSA may only be used for health care expense...
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Last Updated: 12/04/2025
in FSA/HRA/HSA HSA Tax Reporting All distributions from your HSA plan will be reported to the IRS and you will receive a form 1099-SA showing the total amount taken from the plan within the corresponding tax year. Distributions are exempt from income taxes as long as funds are used...
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A beneficiary is any person, trust, or entity that is designated by the financial account holder to receive some portion of the assets in the account after he or she dies. A primary beneficiary is simply first in line to receive the assets in th...
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Distributions from qualified retirement plans are taxed as gross income for the year in which they are withdrawn from the plan. There are specific rules regarding tax withholding at the time of distribution. Normal Distributions: Mandatory 20...
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Last Updated: 06/06/2023
in FSA/HRA/HSA FAQ's ALL your Health Savings Account questions answered Who is eligible to open an HSA? The main requirement for opening an HSA is having a high-deductible health plan that meets IRS guidelines for the annual deductible and out-of-pocket maximum. To ...
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Limited Purpose FSA A limited purpose FSA may be offered to employees that are enrolled in a Health Savings Account (HSA) in conjunction with a High Deductible Health Plan (HDHP). The Limited Purpose FSA is available to supplement vision and dental...
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Any Qualified Beneficiary on your insurance plan is permitted to get information about coverage and account status. Only one set of credentials can be used to access online account . If you are covered through COBRA but do not have online account ...
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Employers can automatically enroll employees in a plan, such as a 401(k) or 403(b), and place contributions deducted from employees’ paychecks into certain predetermined investments, unless the employees decide otherwise. Participants have the opp...
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Below is an example of a Notification of Denied Claim. **Action Requied: If there are additional steps needed to approve or resolve your claim the instructions will be located under the ACTION REQUIRED section. Please see help topics on Clai...
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COBRA and Direct Bill premiums are due the first day of the month but there is a 30 day payment grace period. Payments must be received or post-marked by the last day of the month in which they are due to avoid any lapses of coverage. We accept c...