While many may benefit from an HSA, your personal situation will determine if an HSA-eligible health plan and HSA are the right approach to meet your health care needs. As you explore your options, consider your anticipated health care expenses, your current financial situation, and how much control you want over your medical spending.

Keep in mind that, with an HSA, you are in charge of tracking, managing, and monitoring your health care and related expenses. The record keeping of your HSA is up to you, and it is important to hold on to all receipts, records, and other documentation as proof that the expenses you pay for from your HSA are for qualified medical expenses

The employee must be:

• Enrolled in NantWorks’ high-deductible health plan (HDHP)
• Not covered under other health insurance, including a healthcare FSA for you or your spouse
• Not enrolled in Medicare

Yes, the participant pays the HSA administrative fee charged by Fidelity.  The amount equals $3.50/ month and will be deducted from your account on a quarterly basis.  Once your HSA account reaches a balance of $5,000 or greater, the administrative fee is waived.

HSA can be used to pay for qualified medical expenses for you, your spouse, and your dependents (up to age 26) tax-free, provided they meet the IRS definition of a qualified medical expense. The good news is that there are a lot of expenses that qualify for payment or reimbursement, such as:

• Health plan deductibles and coinsurance
• Most medical care and services
• Dental and vision care
• Prescription drugs, over-the-counter medications, and insulin
• Medicare premiums (if age 65 or older)

Note these expenses must not already be covered by insurance and that health insurance premiums generally do not qualify.

There are multiple ways to use your HSA for payment or reimbursement of qualified medical expenses, including but not limited to:

• Pay with your HSA debit card. Your debit card provides an easy way to pay for qualified medical expenses directly from your Fidelity HSA. The card uses your available balance to pay for qualified expenses at eligible merchants.
• Pay with the Fidelity Health® mobile app — the easier way to manage all your health care expenses in one place, wherever you are. Download it today from the App Store® or Google Play™
• Pay out of pocket. To take advantage of the long-term growth potential of your HSA, you may choose to pay for a qualified medical expense out of pocket rather than use the funds in your HSA. If you do pay out of pocket, you have the option to reimburse yourself from your HSA at any time without penalty.