HSA Frequently Asked Questions
Can I enroll in the Lion Advantage Plan with HSA if my spouse is currently enrolled in a Health Care Flexible Spending Account through their employer?
No. The IRS does not permit use of a health care FSA when enrolled in an HSA. However, the Dependent Care FSA is available to either employee up to the IRS limits.
If the HealthEquity debit card is lost or stolen, and used by someone other than the member, what is the process to recover funds?
As with any debit or credit card issued by a financial institution, a lost or stolen card should first be reported to HealthEquity by calling (866) 346-5800. Representatives are available to assist member 24 hours a day, 7 days a week. If the card is stolen and used by someone other than the member, or the member has a dispute about a known transaction, the member will need to contact HealthEquity regarding the transaction within 60 days of the transaction date.
If a member paid out-of-pocket for a claim in a prior year, can they still reimburse themselves now? If so, how would the member do this?
As long as the reimbursement is for a claim while they are covered by the Lion Advantage Plan, the member can submit the claim using any of the three option outlined above.
Can both spouses make payroll contributions toward the higher-paid spouse’s HSA?
No. Payroll contributions to the policy-holder’s HSA can only be made by the employee whose name is on the HSA.
Can dually employed spouses have separate plans and each be the subscriber in the Lion Advantage Plan with HSA?
Yes. Dually employed spouses may each elected their own Lion Advantage Plan with HSA. Each employee will have an HSA opened in their name as the policy-holder of the Lion Advantage Plan. Each employee will receive the applicable Penn State contribution based on their salary and level of coverage. Each employee will be able to elect additional payroll contributions if they choose. Each employee’s HSA can be used for eligible expenses for the account holder, spouse, and eligible children.
Please note that employees of the University are not able to be enrolled as a dependent under their University employed spouse if they are already enrolled in coverage as the employee.
If an employee has the Lion Advantage Plan with HSA, and changes medical plans due to a qualifying event or annual open enrollment, what will happen to the HSA? What if that employee later decides to re-enroll in the Lion Advantage Plan with HSA due to another qualifying event or during open enrollment?
If an employee cancels their participation in the Lion Advantage Plan with HSA, the HSA will change to an individual account with HealthEquity ineligible for payroll contributions. HealthEquity will notify the employee of this change via a letter mailed to the home address on file for the account.
If the employee later has a qualifying event, or during the annual open enrollment period, and decides to re-enroll in the Lion Advantage Plan with HSA, the same HSA that was changed to an individual account will be changed back to a group sponsored HSA eligible for payroll contributions.
What happens with my HSA when I retire or separate from the University?
Employees who leave or retire from Penn State will have access to the funds in the HSA until exhausted; however, the monthly fee increases to $3.95. Account holders with stand-alone HSAs will have the following:
- Keep the same account number
- Be able to manage their account through the HealthEquity portal
- Have access to HealthEquity customer service at (866) 346-5800
Employees who leave the University and wish to transfer HSA funds from HealthEquity to another HSA account should contact HealthEquity directly for assistance. My family status in the Lion Advantage plan changed mid-year, how does this impact my HSA funds?
- If you go from single to family status, you do NOT receive additional seed money from Penn State. However, you are able to increase your contributions to the IRS family maximum.
- If you go from family status to single, PSU does not take any seed money back from your account. You would need to contact HealthEquity at 866-346-5800 or your licensed tax advisor to review any implications regarding over-contributing to a single account.