Medcom Benefit Solutions Jacksonville, Florida www.medcombenefits.com
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Q&A: HSA
Q: What is a Health Savings Account (HSA)?
A: A Health Savings Account is a tax-advantaged medical savings account available to taxpayers enrolled in a qualified high deductible health plan. Contributed funds are not subject to income tax. HSAs are owned by the individual and funds roll over from year to year.
Q: What expenses are reimbursable under my HSA?
A: The HSA will reimburse copays, deductibles, coinsurance, prescriptions, vision expenses, and dental expenses, excluding cosmetic procedures, and over-the-counter items. (Please note this is not a complete list.)
Q: Can I enroll in a Health Flexible Spending Account (FSA) if I am contributing to an HSA?
A: You cannot enroll in Full Purpose Flexible Spending Account; it must be a Limited Flexible Spending Account which reimburses dental and vision expenses only. Note that your employer must offer a Limited Flexible Spending Account for you to enroll.
Q: Can I use the HSA for my spouse and/or dependents?
A: Yes, the HSA funds can be used for all qualified dependents, even if your spouse and/or dependent(s) are not enrolled under your High Deductible Health Plan (HDHP). Q: Can my Spouse or Dependent use a Health Flexible Spending Account if I am enrolled in an HSA?
A: No, your enrollment in the HSA eliminates your spouse or dependent’s Full Purpose FSA eligibility . However, they may enroll in a Limited FSA if their employer’s plan offers one.
Q: When will I receive my debit card?
A: You will receive your debit card within 7-10 business days of the bank account being opened.
Q: Do I have online access to check my account?
A:
Yes, you have 24/7 online access through our Participant Portal at https://medcom.wealthcareportal.com, to review your account. Medcom’s Customer Service Department is also available to assist Monday - Friday 8:30 a.m. – 5 p.m. by calling (800) 523-7542, option 1.
Contact Us: (800) 523-7542, option 1 MedcomReceipts@medcombenefits.com www.medcombenefits.com
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