A Health Savings Account (HSA) is a tax-advantaged account that allows both employees and employers to save on the cost of healthcare. HSA plans are employer-funded medical reimbursement plans. Employees can contribute money to the account, as well. It's a kind of health spending account used to pay for your share of health care costs.
The city funds your HSA account as follows:
Whenever you incur medical or prescription expenses, the payment should be made from your HSA account using your Avidia card. There are IRS guidelines that define eligible expenses. Dental claims are not covered. However, the medical plan may pay for certain oral care that it deems “medically necessary.” It is advisable to contact our insurance carrier to have that determination made before seeking treatment in non-emergency situations.
Your deductible is accumulated separately. Who ever meets the $2600 first will get their claims paid at 100 percent of our Allowed Amount. If the family combines to meet the $5,200, all covered services are paid at 100 percent of our Allowed Amount.
All fund balances are rolled over and remain the property of the employee after the close of the plan year.Contact Avidia