HSA frequently asked questions (FAQs)
An ODS HSA-qualified, high-deductible plan allows you to use tax-free funds for eligible healthcare expenses. To enjoy the benefits of an HSA-qualified plan, you can simply contact U.S. Bank, OEBB's preferred administrator. You can use HSA tax-free dollars to pay for deductibles, coinsurance and other qualified, expenses not covered by your health plan. HSA members enjoy a number of tax advantages, including:
To be eligible to participate in an HSA plan, you must:
Your pharmacy benefits are included under your HSA plan. Typically, with a HSA plan members are required to submit a claim form to receive benefits. With the ODS HSA plan, as long as you use your identification card at a participating pharmacy, you are not required to submit a claim form for reimbursement. ODS will automatically track expenses that accrue towards your deductible or out-of-pocket maximum and we will reimburse you for eligible expenses under the prescription benefit.
U.S. Bank, OEBB's preferred HSA administrator has tools available for you, including a U. S. Bank FAQ page, a U. S. Bank Healthcare Payment Solutions page, and a an interactive HSA presentation.