![]() If you are covered under another nonqualified, high-deductible health plan, you are not eligible. If you are covered by a qualified, high-deductible health plan, you are eligible to open a Horizon MyWay HSA. You can access your account information via the phone and the Web. There are two convenient ways in which you can access HSA dollars: Once the account reaches a balance determined by our financial institution, there is the option to invest the dollars in a variety of mutual funds. HSA Investment OptionĮach HSA is held in an interest bearing account. Annually, your HSA can be funded up to the lower amount of the deductible or the maximum specified by law. Although HSA contributions must stop when you enroll in Medicare, you can continue to access your HSA balances. Contributions to HSAs are 100 percent tax deductible. Who Funds the HSA?īoth you and your employer can contribute to an HSA. HSA funds are portable, which means that you can access your account regardless of a change of employer, age, marital-status changes, future medical coverage, or state of residence. Help bridge the gap to benefits until they meet the annual health plan deductible.HSA funds can be used for any of the following: The health insurance plan is paired with a savings account to cover eligible medical expenses not covered by the health insurance plan. ![]() HSAs are available to individuals with a qualified, high-deductible health insurance plan. ![]() HSAs were established by the Medicare Modernization Act of 2003 with an effective date of January 1, 2004.
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