Health Savings Account (HSA)

HSAs are similar to flexible spending accounts (FSAs) because you are saving money pretax. However, if you have an HSA, the money remains yours forever! There are no “use it or lose it” restrictions like there are with FSAs.

HSA Eligibility

• • You must be covered by the IMEG High Deductible HSA Plan.
  • You cannot have any “other coverage” such as:
    • A plan that is not an HSA-qualified HDHP
    • Spouse’s plan that is not a QHDHP
    • Medicare or Medicaid
    • TRICARE Coverage (military healthcare)
    • Health flexible spending account (not to include a flexible spending account for dependent day care)
    • Health reimbursement arrangement (HRA)
    • Veterans Administration health benefits
    • You cannot be claimed as a dependent on someone else’s tax return.

Open an HSA

Health Savings Accounts will be administered by HSABank. By electing funds to be deducted into an HSA through Workday, a HSABank HSA account will be opened on your behalf.

If you previously had a HSA through Optum/CYC and wish to transfer your balance to HSA Bank, please use the Optum Financial HSA Transfer Request Form located in the Resources section below.