HSA Employee Handout
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Health Savings Account
When you have an HDHP, you can set aside money in a tax-free
account to pay your out-of-pocket costs. Once you meet your
deductible, your health plan kicks in. Any money lef� over in your
HSA remains yours, allowing you to grow your funds over time.
• Prescription medicines and drugs
• Hearing Aids
• Orthopedic goods
• Doctor visits
• Dentist visits
• Osteopath fees
• Chiropractic services
• Hospital services
• Ambulance services
For a more comprehensive list of eligible expenses, visit
Benefits Debit Card
The primary benefits of the debit card are convenience and
cash flow. Present your debit card at the time of service when
purchasing eligible over-the-counter items, prescription drugs,
o�ce visit co-payments, etc. Payment is made directly from your
Boost your take-home pay, lower your medical costs and cut your income taxes with an HSA.
There’s a relatively new way to pay for health care that is gaining popularity: A High Deductible Health Plan (HDHP) along with a
Health Savings Account (HSA). The HSA allows you to use tax-free dollars to pay for medical expenses. This combination gives you
ultimate control over how you spend your health care dollars.
When you use your card, the card is swiped by the provider —
just like your debit card — sending the date, dollar amount and
provider name to Discovery Benefits.
1. Cash Account (Default Account)
Your funds start out in an interest-bearing FDIC insured
cash account. There is no minimum deposit required for
opening an HSA. Once your contributions reach $1,000,
you have additional choices.
2. Interest-Bearing Account
You have the ability to opt in and select to have your funds go
into either a Money Market account or a variety of mutual fund
options. Funds are not automatically transferred into the Money
Market account without you selecting this option. Af�er you
opt-in to this benefit, your funds will begin transferring into the
option of your choice in $100 increments.
3. Mutual Funds
This is where your investing flexibility becomes a reality.
At any time, you may invest funds from your interest-bearing
account in a wide variety of mutual fund options. Mutual fund
shares may be automatically sold to bring the cash account
balance to the minimum threshold of $1,000, when necessary.
As with any mutual fund, your HSA investments are not FDIC
insured and are made at your own risk. They are not guaranteed
by Discovery Benefits or the fund custodian (Healthcare Bank)
and may lose value.