Participants and their other eligible users should always save itemized receipts for HSA, FSA and HRA-eligible purchases made with the benefits card.

The treatment of your Chard Snyder HSA Advantage™ account depends on who is the designated beneficiary. 

To add or update a beneficiary on your HSA Advantage™ account, visit the Profile tab when you log in to your account or contact us to request a Beneficiary Designation Form.

If you do not designate a beneficiary for the account, the money will be included in your estate and the value will be taxable on your final income tax return. 

An HSA is a personal bank account created exclusively for individuals to pay for eligible healthcare expenses and save for future healthcare expenses tax-free.

You are eligible as long as you meet the following criteria listed below:

Yes. You may withdraw funds to pay for the qualified medical expenses of yourself, your spouse, or a dependent without tax penalty.

Maximum annual contributions to your HSA are determined by the IRS each year.

The overall guiding rule for medical expenses is that the expense has to be for medically necessary purposes only.

You are responsible for that decision, and therefore should familiarize yourself with what types of medical expenses are considered to be qualified (as partially defined in IRS Publication 502).

You can only use your HSA to pay health insurance premiums if you are collecting federal or state unemployment benefits, or you have COBRA coverage through a former employer.

No. As long as you use your HSA only for eligible medical expenses, you will never have to pay taxes on the money.

How you use your HSA is solely between you and the IRS.

Once funds are deposited into the HSA, the account can be used to pay for qualified medical expenses tax-free, even if you no longer have HDHP coverage.

If you use your HSA for an expense other than eligible medical expenses you can subject yourself to significant IRS penalties. Inappropriate use of your HSA funds may also leave you without money to pay for your eligible medical expenses in the future.

The HSA is yours and will stay with you even after you have left your current employer.

You can continue to use your account tax-free for out-of-pocket health expenses.

No. You cannot reimburse qualified medical expenses incurred before your account was established.

Joint HSAs are not permitted.

If both husband and wife are eligible to contribute to an HSA, they are both eligible to establish separate HSAs.

Yes, if you are both eligible individuals and both have established HSAs in your own names.

Your Chard Snyder Benefits Card will be mailed to the address you provided on your application within 7-14 business days after your account has been set up.

Log in to your account on the participant portal or on the Chard Snyder mobile app to indicate your preferences regarding how you’d like to receive regular HSA statements (via email or paper copy). 

You can check your account balance on your monthly statement by going to your online account, calling Chard Snyder or your bank.

The discounted rate for prescriptions is provided at the cash register, so use your benefit card for maximum convenience.

Yes, this is a personal bank account in your name.

If you do not have enough money in your HSA to pay for an eligible medical expense you will need to pay for the expense by some other means.

Any unused contributions in your HSA will accumulate year after year tax-free until you need them.

Yes. Your company will advise you when you need to do this and provide you with the necessary forms.

If you are in an employer-sponsored plan you will normally make deposits through payroll deductions coordinated by your HR office.

You will receive two tax forms on an annual basis, the 1099-SA and 5498-HS.

Yes. You may check with Chard Snyder or see the investment options in the participant portal.