Start Here:
For preliminary information on Health Savings Accounts (HSA's) please click here to view the current benefits guide.
More About Health Savings Accounts (HSA's):
2025 Electable Amounts:
Individual Limit: $4,300
Family Limit: $8,550
Over age 55: Additional $1000 can be put into your HSA account
2024 Electable Amounts:
Individual Limit: $4,150
Family Limit: $8,300
Over age 55: Additional $1000 can be put into your HSA account
Why Should I Enroll in an HSA:
High-deductible health plans typically have lower monthly premiums and greater out-of-pocket costs. A HSA helps ensure you have money set aside to pay for out-of-pocket healthcare expenses.
But a HSA is also a powerful investment vehicle and can be a smart addition to your retirement strategy. What makes a HSA such a great retirement investment tool? Simply put, money goes into a HSA tax-free, grows tax-free, and comes out tax free. That means you will never be taxed when you use HSA dollars for qualified medical expenses. No other investment account offers this benefit!
How much can you potentially save for retirement?
Qualifying and Non Qualifying Expenses underneath an HSA:
HSA funds can cover costs for:
- Copays, deductible payments, coinsurance
- Doctor office visits, exams, lab work, x-rays
- Hospital charges
- Prescription drugs
- Dental exams, x-rays, fillings, crowns, orthodontia
- Vision exams, frames, contact lenses, contact lens solution, laser vision correction
- Physical therapy
- Chiropractic care
- Medical supplies and first aid kits
- Prescribed over-the-counter medications
- COBRA premiums
- And much more…
HSA funds cannot be used for:
- Expenses incurred prior to opening your HSA
- Cosmetic procedures or surgery
- Dental products for general health
- Personal hygiene products
Pairing a Limited Flex Spending Account with your HSA
As a member of the HDHP and with the HSA election, you may also elect a Limited Flex Spending Account. Contributions to the Limited Flex Spending Account can be used for vision and/or dental expenses only and must be used for expenses by December 31st of the plan year.
Setting Up Your Health Savings Account:
Set up your online at www.chard-snyder.com and follow the directions in this Participant Online Account Access guide.
Once you have enrolled online, you can also download the Chard Snyder Mobile App at the App store or Google Play by searching "Chard Snyder Mobile"
Once enrolled you will be able to:
- View your account balance and transaction history
- Submit and view claims
- Upload and store receipts
- Make contributions
- Invest HSA funds
- View important alerts and communications
- Sign up for direct deposit
- Sign up for text message alerts
Questions about your HSA:
Our HSA administrator is Chard Snyder, a WEX Company. At their website, you can check account balances, print commonly used forms, and view a listing of eligible expenses. To access the portal, go to www.chard-snyder.com and click the blue Login button in the upper right corner of the page.
Chard Snyder, a WEX Company
PO Box 2924
Fargo, ND 58108
Ph: 800-982-7715
Fax: 888-245-8452 (Please do not include a Fax Cover Sheet) Email: askpenny@chard-snyder.com
Frequently Asked Questions:
For additional information, please view the HSA Reference Guide.