Spending & Savings Accounts

In order to establish and contribute to an HSA, you:

• Must be enrolled in the Choice I or Choice II medical plan.
• Cannot be enrolled in any other medical coverage, including a spouse’s plan, Medicare, or Tricare.
• Cannot be participating in a Health Care Flexible Spending Account (FSA).
• Cannot be claimed as a dependent on someone else’s tax return.
  

When opening up an HSA, the account holder is the only one who must meet the IRS eligibility requirements, even if you have a family medical plan

You should review IRS rules for making HSA contributions if you will turn age 65 during the year. For more information, see IRS Publication 969.

• Check your balance. You can only spend money that has actually been deposited into your account — your entire annual contribution amount is not available to you from the beginning of the plan year. Your HSA balance will grow as deposits are made from each paycheck. You can check your balance on the Inspira website.
• Use your HSA debit card for eligible* expenses. You can pay for medical, prescription, dental, and vision expenses for yourself and your family with your HSA debit card. Or, you can log in to your Inspira account to make electronic payments or reimburse yourself for payments you’ve made using other sources of money. These payments or reimbursements can be made only up to the available balance in your account.
• Consider opening an investment account once you have at least $1,000 in your account. There are a variety of mutual funds to choose from. There are also no transfer or trading fees and no minimum investment amount for a trade request.

*For a list of eligible expenses, see IRS Publication 502. If money is used for ineligible expenses, you will pay ordinary income tax on the amount withdrawn plus a 20% penalty tax if you withdraw the money before age 65. After age 65, withdrawals for ineligible expenses are only subject to ordinary income tax.

FSAs are “use-it-or-lose-it” accounts. You will forfeit any amount left in the account at the end of the plan year and grace period.* 

Incurring expenses: Huber offers you a two-and-a-half-month grace period after the end of the plan year to incur expenses using the previous year’s FSA funds. For example, eligible expenses incurred between January 1, 2024 and March 15, 2025 may be paid for with FSA dollars from 2024. 

Submitting Reimbursement Requests: Huber offers you a 120-day period after the end of your plan year to submit reimbursement requests. For the 2024 plan year, you have until April 30, 2025 to submit requests for reimbursements for eligible expenses incurred in the 2024 plan year (including the  two-and-a-half-month grace period that extends beyond the end of the plan year).

If all funds are not claimed by April 30, 2025, any remaining FSA funds will be forfeited.

You can request reimbursement or manage your account on the Inspira website or using the Inspira app. You can also submit your reimbursement request by mail or fax. More information is on the Inspira website. 

If you leave Huber during the 2024 plan year: You will not be able to use your debit card after your last day, but you can submit reimbursement requests until April 30, 2025 through the Inspira website.

• You can submit Health Care FSA expenses incurred only when you were active in the plan.
• You can submit Dependent Care FSA expenses incurred both while you were active in the plan and after your termination date through the end of the plan year.

*The deadline to incur claims for the current year is March 15 of the following year. The deadline to submit claims for the current year is April 30 of the following year.