At myHSA, we strive to provide you with comprehensive information to make the most of your Health Spending Account (HSA). One important area to understand is the eligibility of insurance premiums. Here’s what you need to know about claiming these expenses under your HSA.
What Insurance Premiums Are Eligible?
You can claim premiums through your HSA for health, dental, and vision plans paid to a non-government medical or hospitalization plan. This means that the money you spend on these premiums can be reimbursed through your HSA, offering you additional options for coverage and financial relief.
What’s Not Eligible?
It's important to note that not all insurance premiums are eligible for claims under an HSA. The following types of premiums cannot be claimed:
Critical Illness Premiums
Accidental Death or Dismemberment Premiums
Life Insurance Premiums
Disability Insurance Premiums
Government Plan Premiums
These exclusions are set to ensure compliance with the guidelines governing HSAs.
What do we require in your claim?
When submitting claims for employee contributions to group insurance, we require employees to provide a paystub showing the deduction for their insurance contribution. This documentation helps us verify the type of insurance—whether it's for health, vision, or dental, and what amount the employee contributes to the plan.
How to Verify Your Plan Coverage
If you are unsure whether your plan includes the category "Miscellaneous Allowable - Employee Premium," you can verify this by navigating to your Dashboard and clicking the "Covered Items" list. If you still aren't sure, feel free to reach out to our support team by live chat! They will assist you in confirming whether your premiums are eligible for reimbursement under your specific HSA plan.
Need Assistance?
If you have any questions or need further assistance, our support team is here to help. Reach out via live chat or email at support@getmyhsa.com.
At myHSA, we are committed to making your healthcare journey as straightforward and supportive as possible. Stay informed and take full advantage of your Health Spending Account!