Page 7 - ABC - Tech BG_1A
P. 7
Medical Plan Choices 5
Understanding Health Savings Accounts (HSAs), continued
Pay Healthcare Expenses
Each time you have a qualified expense, you decide whether to:
1. Pay out of your pocket and let your HSA grow, earning interest for future eligible expenses (e.g.,
medical expenses during retirement).
2. Use your HSA to pay for eligible medical expenses such as your annual deductible and coinsurance.
Your HSA can also help pay for vision care, dental care and prescription drugs. (For a complete list of
eligible expenses, visit www.irs.gov.)
3. Use your Limited Health Care FSA to pay for dental and vision expenses. Then, after you meet your
medical plan deductible, use the Limited Health Care FSA to pay for eligible medical expenses. See
Limited Health Care Spending Account on page 15 for more details.
HSA Accounts are Portable
Money you don’t spend rolls over from year to year, so if you change jobs, switch to another medical
plan or even retire, your HSA and the money in it is yours to keep. You can choose to save it to pay for
eligible health care expenses tax-free in retirement.
Video – HDHP + HSA
We’ve provided a quick video to help you further understand how high-deductible
HDHP+
health plans work in conjunction with health savings accounts. To watch the video, HSA
click the camera to the right or visit http://video.burnhambenefits.com/hdhp.
