Employers FAQs
Below is a list of commonly asked questions, if you do not see what you are looking for, or if there are any further questions, please contact our Help Desk at:
1-800-57-MyHSA
(800-576-9472)
7:30 a.m. - 5:00 p.m. CT,
Monday - Friday.
An HSA, or Health Savings Account, is a tax-favored savings account used to pay for qualified medical expenses of the account holder, the account holder's spouse and any eligible dependents tax free.
To be eligible for a Health Savings Account, an individual must be covered by an HSA Qualified Health Plan, and must not be covered by other health insurance (does not apply to specific injury insurance and accident, disability, dental care, vision care, long-term care) that is not HSA qualified, you can not be enrolled in Medicare, and you can't be claimed as a dependent on someone else's tax return.
The maximum amounts allowed for contributions can change from year to year. Below are the most recent yearly amounts provided by the IRS. However, changes can occur at any time.
Follow these steps to upload a file through FileSafe:
- Go to: https://abg-il.filetransfers.net/fileDrop
- Enter your information in the form fields making sure to fill in any required fields. First/Last Name, Email, and Phone Number are required fields.
- Select all of the files you wish to upload and drag them into the 'Select Files' area on the left side of the screen. There is also an link in the grey area that will open a dialog box if you prefer called 'browse and select file'. Please note: for multiple files, when using the dialog box, you will need to select the 'browse and select file' for each file.
- Enter a message to send along with the files. This field is not required.
- Select the blue 'Upload Files' button to upload your files to FileSafe.
No, you are under no obligation to make any contributions to employee's HSAs. However to get better participation from your employees in the HSA Qualified Health Plan and to encourage employees to open HSA accounts to start saving for their future an employer contribution is recommended.
No, you are not responsible for policing the employee's HSAs. It's the individual account holders responsible to determining that their account funds are being properly used and the account holder would be required to provide supporting evidence on the use of their funds if requested under an IRS audit.
To add a new employee to the MyHSA program you can upload an enrollment spreadsheet or you can have the new employee fill out a MyHSA application. You do not have to do both, then upload the spreadsheet or the application to File Safe. For employees terminating from your group please contact your MyHSA account manager by email of phone to and let them know who is terminating.
If you need the enrollment spreadsheet, application or need help please call your MyHSA account manager.
No, once an employee has opened their MyHSA account it will remain open as long as they maintain a balance in their account year after year, employees do not have to re-enroll every year. If an employee had a MyHSA account in the past and they had closed their account then that employee would need to send in a new application to reopen their account.
The IRS has made it easier to correct employer contributions that were made in error to an employee's HSA account. If you discover that an HSA contribution was sent in in error to an employee's account you will want to notify your account manager as soon as possible, they will send you a form that will need to be completed before we are able to make any corrections. Once we get the form back (you will want to keep a copy of the form for your records) we will make the corrections as long as the funds are available in the employee's HSA account to make the correction. If the money has been spent by the employee there is nothing that we can do.
Yes, there are four reports that are sent to employers on a monthly basis that will give them information to help them see how their HSA program is working.
Employer's will receive:
- List of Active Employees with a MyHSA accounts report
- Account Balance by Tiers Summary report
- Year to Date Contribution processed report
- Distribution Summary report
Once you enroll in any Part of Medicare you are no longer eligible to open or contribute to an HSA. The account holder can continue to spend the money in their HSA tax free on qualified medical expenses for themselves, their spouse and any eligible dependents they have.
The time to completion can vary based on which way is chosen to submit enrollment materials.
Upload an Enrollment Spreadsheet: Typically takes one business after it has uploaded.
Paper Applications: Generally enrolled with in two business days after receiving. (Please allow 3-5 days for delivery through the mail)
Employee MyHSA Debit Cards and Welcome Kits typically take 7 to 10 business days to get mailed out after the MyHSA account has been opened.
Yes, a Year-to-Date MyHSA statement will be mailed out quarterly to the address we have for each employee. Employees can login to their online account and create a statement on demand whenever they would like.
They can log into their MyHSA account 24/7 by going to https://go-retire.com/myhsa.
To report a lost or stolen debit card, please call 1-800-576-9472. If no one is available or it is after hours, please leave a message which includes the account holder's name, the card holder's name (if dependent card) and a call back number. A customer service representative will return your call as soon as possible.
You will want to monitor all transactions on your account (You will find a Claims History Widget on the Home Page of your online account). Most fraudulent activity must be reported within 50 days. A customer service representative will be happy to assist you with the claim process.