Enroll Today
Our online enrollment process makes it easy - get started today! 

Enroll
Log In
View your account information online.

 

Log In

First time logging in?

Health Savings Account Overview and FAQ

 

What is a Health Savings Account (HSA) and how does it work?

How do I know if an HSA is right for me?  

How do I enroll for a Huntington HSA?

How do I make deposits to my HSA?

How do I pay for medical expenses from my HSA?

How do I contact customer service?

What is a Health Savings Account (HSA) and how does it work?

Health Savings Accounts (HSAs) are tax-advantaged accounts for the purpose of paying for qualified health care expenses. Contributions to HSAs are not taxed, and as long as you buy products or services that are qualifying medical expenses as defined by the IRS, you will not pay taxes on the money you use to purchase your health care through an HSA

How do I know if I'm eligible to enroll in an HSA?

You are eligible to enroll in an HSA if you are currently enrolled in a High Deductible Health Plan (HDHP). HSA-qualified High Deductible Health Plans meet certain requirements set by the Internal Revenue Service that include minimum deductibles and a reasonable cap on out-of-pocket expenses. Minimum deductibles for 2014 are $1,250 for individual (self-only) coverage and $2,500 for family coverage. For 2014, the maximum out-of-pocket amounts (the sum of the annual deductible and the other annual out-of-pocket expenses required to be paid under the plan, not including premiums) may not exceed $6,350 for individuals and $12,700 for families. Consult your insurance company or your employer’s benefits administrator for more information about your health plan.

.

How do I account for an HSA in my taxes?

As the owner of your HSA, you are responsible to the Internal Revenue Service for filing the appropriate tax forms, and for making sure you purchase only items that are qualifying medical expenses with your HSA.

How do I get IRS tax forms, publications and information relating to HSAs?

There are a variety of IRS forms, publications and information available on www.irs.gov. Some forms, such as Forms 1099-SA and 5498-SA, which will be sent to you by Huntington, will assist you when completing your taxes. Form 8889, available on the IRS Web site, is completed by you. IRS Publications 502, Medical and Dental Expenses and 969, Health Savings Accounts and Other Tax-Favored Health Plans are also available. Other HSA information is also available on the IRS Web site and the Department of Treasury Web site, www.treas.gov.

When am I eligible to make contributions to an HSA?

You are eligible to make contributions to your HSA if you are currently covered by a High Deductible Health Plan (HDHP).

What if I'm only covered for part of the year?

Both the HSA contribution and catch-up contribution apply pro rata based on the number of months of the year you are eligible, meaning you are covered by your HDHP.

What if I already have an HSA and want to move it to Huntington (HSA rollover)?

Along with your new account documents, you will receive a form that you can sign and return to your existing financial institution that authorizes them to move your existing HSA funds into your new Huntington HSA.

How do I keep track of how much money is in my HSA?

  • Online account information is available at www.huntington.com/hsa
  • By telephone, you can speak to a customer service representative Monday to Friday, 8:00 a.m. to 5:00 p.m. ET by calling toll free 1-800-676-4074.
  • You will also receive monthly statements mailed to your address of record.

Will my money earn interest?

Yes. There is no minimum balance to earn interest. Your money will earn more as your balance becomes higher. See our interest rates

What investment options are available?

Your money will be invested in an FDIC-insured account that earns interest.


What are the fees?

No monthly fee, annual fee, no set-up fees, and no fees for withdrawals. There are no fees to your employer for contributing to your HSA.

 

How do I know if an HSA is right for me?

If you are enrolled in a qualifying High Deductible Health Plan (HDHP), you are eligible to open an HSA.  An HSA can lower your income taxes today, allow your savings to grow tax-free, allow you to pay for qualifying medical expenses tax-free, and help you save for retirement. Consult your insurance plan details and your tax advisor to evaluate your particular situation.


How is an HSA different from the other types of medical spending accounts my employer offers?

HSAs are owned by the accountholder. Unlike other types of medical spending accounts, such as Flexible Spending Accounts (FSAs), HSAs are not tied to your employer. Even though your employer may offer an HSA as part of your benefits package and may contribute to your HSA on your behalf, all of the money in your HSA belongs to you as soon as it is in the account.

If you move to a different employer, you keep the money. Your employer does not have to approve your purchases. You can keep your HSA if you switch health insurance plans. Even if you switch to a health insurance plan that is not a High Deductible Health Plan, you still keep the money in your HSA and can still purchase qualifying medical expenses without being taxed. However, you cannot contribute to your HSA in any year in which you are not enrolled in a High Deductible Health Plan.

Do I have to spend all of the money I contribute each year?

No. Any money you don't spend stays in the account from year to year.

What happens when I move to a new employer?

You own your HSA account and all of the money in it belongs to you - even if you move to a new employer.

How do I enroll for a Huntington HSA?

Enrolling is easy with our online enrollment process.

Step One
Make sure you're enrolled in a qualifying High Deductible Health Plan. Talk to your insurance company or your employer's benefits administrator if you're not sure whether your plan is a qualifying HDHP plan for HSAs.

Step Two
Go to www.huntington.com/hsa and click on the "Enroll" button. Complete the form online and submit. You will receive your new account welcome kit and your Visa® Debit Card within ten to fourteen business days of account opening..

Step Three
Sign and return the HSA signature card with your check for the initial deposit (or set up direct deposit with your employer to fund your account).

How can I make deposits to my HSA?

Deposits to HSAs are called contributions. You can make contributions to your HSA yourself by depositing a check or sending an electronic deposit to your account. Or, you can set up a payroll deduction through your employer.

How much can I contribute?

Maximum contribution limits for 2014 are $3,300 for individual coverage or $6,550 for family coverage.

Who can make contributions to my HSA?

Your employer or another person can make contributions to your HSA on your behalf.


Are there special deposit tickets for HSAs?

Yes. We will include a deposit ticket in your new account kit with instructions on how to order more.


Are my contributions pre-tax or after-tax?

Contributions made by your employer are not included in your income. You can claim contributions you made and contributions made by any other person, other than your employer, on your behalf, as an adjustment to income. Additional information is available on the Internal Revenue Service Web site at www.irs.gov. Consult your tax advisor for information about your specific situation.

Can I make catch-up contributions to my HSA if I'm over 55?

If you are age 55 or older, you can increase your contribution level. For 2013, the increase amount of catch-up contributions you can add to your regular contribution is $1,000. For details, see the Internal Revenue Web site at www.irs.gov.

How do I pay for medical expenses with my HSA?

You can use your debit card to make a purchase wherever Visa® is accepted, or write a check to pay for qualified medical expenses. If you need to pay with cash, you can use your debit card to withdraw cash at an ATM.

What can I buy with my HSA?

You can buy any product or service that is a Qualified Medical Expense as defined by the IRS. For details, see the Internal Revenue Web site at www.irs.gov.

Who approves my purchases?

You are responsible for making purchases that are qualifying medical expenses as defined by the IRS. You do not need to get any approval of your purchases, but you do need to keep your receipts and be prepared to show the IRS that your purchases were for qualifying medical expenses.

What if I buy something that is not a qualified medical expense?

If you buy something with your HSA by mistake due to reasonable cause, you may repay the mistaken distribution no later than April 15 following the first year you knew or should have known the distribution was a mistake. For example, you reasonably, but mistakenly, believed that an expense was a qualified medical expense and paid for that expense from the HSA. You would then repay the mistaken amount to the HSA. The Internal Revenue Service has information about how to treat such a mistaken purchase in your taxes. See the instructions for Form 5498-SA on www.irs.gov. Consult your tax advisor for information about how to handle your individual situation.

Where can I get claims forms?

There are no claims forms with an HSA. You are responsible for your purchases and for filing the appropriate tax forms.

Will my debit card be blocked at some stores?

No. Some HSAs restrict use of the debit card, but Huntington's HSA debit card has no restrictions. You can use your debit card to purchase qualifying medical expenses at a store or other merchant that accepts Visa. You are responsible to make sure you do not purchase items with your debit card that are not qualifying medical expenses.

How do I contact customer service?

Call us toll free at 1-800-676-4074. You can speak to a customer service representative Monday to Friday, 8:00 a.m. to 5:00 p.m. ET.