- 2019 benefit period: you must incur all eligible expenses by December 31, 2019
- 2020 benefit period: you must incur all eligible expenses by December 31, 2020
The HSA can only be used to pay for eligible medical expenses incurred after your HSA was established.
While you should always try to submit requests for distribution during the same plan year in which the expense was incurred, there is no deadline to request an HSA distribution. You can only be reimbursed for eligible expenses incurred after your HSA was established and funded.
HSA Transfer of Asset
If you have an active HSA with TASC, you may want to consider transferring your asset of funds to ConnectYourCare.
You can transfer your TASC HSA to ConnectYourCare through an e-Consent (online) portal. You will have from September 30, 2019 - December 31, 2019 to sign up on the e-Consent portal. Any investment account will be liquidated when your HSA closed at Healthcare Bank and transferred to ConnectYourCare. Your HSA balance will be available in February 2020 with ConnectYourCare if you choose to transfer your funds.
If you want your HSA balance to remain with TASC, you must pay a monthly $3.00 administrative fee starting February 2020.
All unused HSA funds carryover year-to-year without forfeiture.
You must re-enroll each year to continue participation. Enrollments do not carry forward from year to year.
You must enroll within 30 days from the date of hire. Coverage will be effective on the first of the month on or following your eligibility date.
Qualified Life Event
Changes due to a qualifying life change event must be made within 30 days from the date of the event.
Retirees who enrolled in a HDHP must also enroll in a HSA. To enroll in the HSA, you must complete an HSA enrollment paper application and submit it to ETF.
Retirees are not require to pay an administrative fee for HSA with ConnectYourCare.