HSA Eligibility Requirements:
- Enrolled in a qualified high deductible health plan (HDHP)
- Not covered by any other plan, unless it is another HDHP or
provides only specific coverage such as dental or vision - Not enrolled in Medicare
- Not claimed as a dependent on another person’s tax return
Contributions to your HSA
- May be made by you, your employer, or any other individual
- Allowable amounts are based on the type of health care
coverage you have,- Single
- Family
- Limits are adjusted annually by the IRS
- Review current maximum contribution limits by visiting
irs.gov (Pub 969) or contact your local JCB banking
center for additional information
- Review current maximum contribution limits by visiting
- Are tax deductible
- Earn interest on a tiered structure
- Tax deferred earnings
- Catch up contributions are available after age 55
- Unused funds carry over year to year
- After age 65, the money becomes a supplement to your retirement
- Funds can be used for medical expenses not covered by Medicare, tax free
- May be used without penalty for non medical expenses, but are subject to
income tax
Distributions from your HSA
- Tax free provided the funds are used to pay for qualified medical expenses
- Learn more about qualified medical expenses by visiting the IRS website
- Search within publication 502 for the most updated listing
After opening your HSA
- Access funds easily by ATM, debit card, checks, ACH, online banking transfers or teller services
- Expenses paid out of pocket may be reimbursed to you by debiting your account using any of these methods
- JCB NetBanc online banking and/or Smartline telephone banking provides convenient access to account information 24/7
PO Box 1001, Seymour, IN 47274
(812) 522-3607
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