The SelectAccount HSA debit card is a convenient way to pay for eligible medical expenses, because it gives you direct access to your available account dollars. Simply swipe your card and - as long as you have money in your account - the expense will be paid for directly from your HSA. It's that easy. There is an annual fee associated with your debit card, as shown below.
| Annual Fee | |
|---|---|
| Debit Card | $12.00 |
| Spouse Debit Card | $6.00 |
Although the debit card is a convenient way to access your account, keep in mind that if you choose this option, it will cancel out your enrollment in the medical claims crossover feature, which allows your health plan to electronically submit claims to SelectAccount for reimbursement to you.
To request a debit card, complete and sign the Health Savings Account Debit Card Participant Request Form and return it to SelectAccount.
Note: If your HSA has been set-up by your employer, you may or may not have an option to add a debit card. Please contact your employer for more information.
Please remember, use of the HSA Debit Card does not remove any of the IRS claim substantiation requirements. You will need to save your receipts as they may be needed if the IRS requests documentation to verify that the funds in your HSA were used for qualified medical expenses.
For questions about the health savings account, please call (651) 662-5065 or toll free at 1-800-859-2144. We're at your service.