It pays to know your Health Savings Account

It’s a new year and we all know what that means: resolutions. If you’re enrolled in the High Deductible Health Plan or the High Deductible Health Plan Plus, you have one more way to reach any financial resolutions you’ve made for 2017: your Health Savings Account (HSA). Here are three things you should know when it comes to your HSA.

1. Be sure to follow up if you received an email from WageWorks.

WageWorks, our HSA administrator, sent an email to employees who need to provide additional documents to open their HSA. If you received this email, be sure you take action within 90 days or your account will not be opened and any contributions you’ve designated will be returned. If this happens, you won’t have another opportunity to open your HSA account until 2017 Open Enrollment so don’t delay!

2. Budget for your health care expenses.

If your HSA is brand new—or if you used your entire balance last year—it’ll take a while to build up. Your contributions—and your match from Ardent—are made per paycheck. Keep this in mind when scheduling appointments. You’ll have to pay out of pocket for medical care and prescription drugs until your balance builds up again.

Remember: Keep your receipts because you can submit them for reimbursement at any time throughout the year. Plus, you may need them for tax purposes.

3. Maximize the value of your account.

There’s a lot you can do to save on health care expenses and keep your HSA balance growing:

  • Get preventive care. All Ardent medical plans cover preventive care at no cost to you. Take advantage of vaccinations, age-appropriate screenings and other preventive services that help you stay healthy and catch problems before they become bigger—and more expensive—issues.
  • Enroll in the Bravo Wellness Program. You and your covered spouse can earn discounts on your medical premiums by participating in our annual free, on-site health screenings and for achieving certain health goals.
  • Get medical care at an Ardent facility. You’ll save on out-of-pocket expenses since all our plans offer greater coverage when you use an Ardent facility.
  • When possible, wait for your bill before paying your share of the cost of service. When you receive care within the UMR network, you don’t have to pay for that care at the time of your visit. Your provider will bill UMR, and you’ll receive a bill detailing what you owe. That amount is typically less than what the service would cost otherwise. Be sure you bring your medical card to your appointment.
  • Bolster your account with after-tax contributions. You or your family and friends can make after-tax lump-sum contributions to your account by transferring money from another bank account or mailing a check directly to UMB Bank, the custodian of the account. Plus, you can deduct these contributions when you file your taxes.

Your HSA is like any other savings account. It’s yours to keep, including the interest and investment earnings, even if you change plans, retire or leave Ardent. Managing it wisely now means you’ll have more to use for medical expenses in the future.

To access your account, visit

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