To be eligible for a Health Savings Account, an individual must be covered by a HSA-qualified High Deductible Health Plan (HDHP) and must not be covered by other health insurance that is not an HDHP. Certain types of insurance are not considered “health insurance” (see below) and will not jeopardize your eligibility for an HSA.

HSA is a special tax advantaged account – where money goes in tax free, earns interest tax free and is not taxed when it is withdrawn to pay for qualified expenses. Lubrizol makes a tax free contribution to your HSA each January 1. You can also make contributions to your account. At the end of the year, any money remaining in your HSA rolls over to the next year. You own your HSA so you keep the funds even if you change jobs or health plans.

A Health Savings Account can be established with funds from the employer, the employee or both. Employees can use these funds to pay for covered medical care services and money spent from this account also counts toward the deductible. The employee owns the account and funds remain with the employee if he/she leaves the plan.

The Health Savings Account (HSA) is your account, the HSA dollars are your dollars. Since you are the account holder or HSA beneficiary, you manage your HSA account. You may choose when to use your HSA dollars or when not use your HSA dollars. HSA dollars pay for any eligible expense. Most commonly, the HSA account holder will pay their out-of-pocket expenses (i.e. deductible and coinsurance) associated to their high deductible health plan with their HSA dollars.

Don't sue us! Fractured Atlas is not an insurance company. We're also not lawyers, brokers, agents, doctors, or anyone else qualified to give professional advice. We try our best to be helpful, but take anything written here with a handful of salt.

Yes, the unused balance in a Health Savings Account automatically rolls over year after year. You won’t lose your money if you don’t spend it within the year.

A Health Savings Account (HSA) is a savings account specifically set up to allow individuals to pay for qualified medical expenses. MoleMapCD is recognized by the American Medical Association under CPT code 96904 and can be paid for using an HSA.