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As of September 21st, 2017 American Health Value will no longer be administering health savings accounts (HSA) and have transferred the administrative rights and duties to HealthEquity. As of today, we are no longer a point of contact for anyone who currently possesses an HSA, or for anyone looking to open an HSA.
Please see the information below for instructions relating either to existing account holders, or those looking to open an HSA:
Existing Account Holders
Nothing with your HSA has changed. You have the same checking/routing numbers, the same debit card, and the same online credentials necessary to access your account. Going forward, you simply need to direct all funding and inquiries to HealthEquity instead of our office.
You can visit the following links to access a PDF copy of the letters that were mailed to individual account holders and/or employer groups announcing this transition:
To access your HSA online: Click here
To contact HealthEquity directly: please call 877-694-3942 or email them at info@healthequity.com
Opening A New HSA
We are not able to open an HSA for you at this time. Please visit www.healthequity.com to open your health savings account.
A Sincere Thank You
After 20 years of HSA administration, American Health Value has made the difficult decision to exit the HSA marketplace. Each and every one of our clients have been at the center of what we have done for two decades and are the reason why our staff has been so honored to suit up and show up for you at work every single day. It is with our clients at heart, that we feel it is in their best interest to transition them over to our custodial banking partner HealthEquity and allow them to also take on the full role as your HSA administrator.
From everyone at American Health Value, it has truly been a pleasure serving the HSA needs for all of our clients over the last two decades and we sincerely thank all of you for the opportunity to work together.
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Health Savings Account Eligibility |
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Anyone is eligible for a health savings account as long as the following considerations are met:
- You are covered by an HSA-qualified High Deductible Health Plan (HDHP)
- You are not covered by other health insurance
- You are not enrolled in Medicare
- You are not claimed as a dependent on someone else's tax return
In addition to the HDHP, you also are permitted to have the following healthcare coverage:
- Specific Disease/Illness, Disability, Dental, Vision, & Long Term Care
- Employee Assistance, Disease Management, or Wellness Programs
- VA Benefits
- IHS Benefits
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HSA-Qualified High Deductible Health Plan (HDHP) |
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Today, you typically have choices as to which HSA health plan works best for you. However, plans do vary from state to state, so we will cover some of the more common options.
Some plans cover 100% of your medical expenses once the deductible is met. Other plans offer co-insurance which reduces your monthly premiums even further. With co-insurance, the plan would pay a percentage of your medical expenses after the deductible is met and until you reach a specific dollar amount referred to as a 'maximum out-of-pocket'. At this point the insurance begins paying all medical expenses at 100% of the cost.
Plans may also offer choice in the amount of your deductible. Remember, the higher the deductible, the lower the premium. Work with your local insurance professional to review your options and find the health plan that best covers your needs at a price that is affordable to you.
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2016 HDHP Requirements & HSA Contribution Limits |
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Deductibles & Maximum Out-of-Pocket Expenses:
- Federal law dictates the minimum deductible for a qualified HSA plan. Plus, the amount of medical expenses you pay out of your own pocket in any given year (before the insurance pays 100%) is also set by law. These amounts are indexed annually to reflect the rate of inflation.
| 2016 HDHP Requirements |
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Coverage
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Minimum
Deductible
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Maximum
Out-of-Pocket
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| Individual |
$1,300 |
$6,550 |
| Family |
$2,600 |
$13,100 |
| Individual Policy:
Minimum Deductible: $1,300
Maximum Out-of-Pocket: $6,550
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Family Policy:
Minimum Deductible: $2,600
Maximum Out-of-Pocket: $13,100
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HSA Contribution Limits:
- HSA contributions are funds that are deposited into your HSA. Although anyone can make deposits into your HSA, (whether that's you, your employer, or a generous relative) federal law sets the maximum amount that can be deposited on an annual basis.
| 2016 HSA Contribution Limits |
| Coverage |
Regular |
Catch-Up (Age 55+) |
| Individual |
$3,350 |
$1,000 |
| Family |
$6,650 |
$1,000 |
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Individual Policy:
Maximum 2016 Contributions: $3,350
If Age 55+ (w/ $1,000 catch-up): $4,350
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Family Policy:
Maximum 2016 Contributions: $6,650
If Age 55+ (w/ $1,000 catch-up): $7,650
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2017 HDHP Requirements & HSA Contribution Limits |
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Deductibles & Maximum Out-of-Pocket Expenses:
- Federal law dictates the minimum deductible for a qualified HSA plan. Plus, the amount of medical expenses you pay out of your own pocket in any given year (before the insurance pays 100%) is also set by law. These amounts are indexed annually to reflect the rate of inflation.
| 2017 HDHP Requirements |
|
Coverage
|
Minimum
Deductible
|
Maximum
Out-of-Pocket
|
| Individual |
$1,300 |
$6,550 |
| Family |
$2,600 |
$13,100 |
| Individual Policy:
Minimum Deductible: $1,300
Maximum Out-of-Pocket: $6,550
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Family Policy:
Minimum Deductible: $2,600
Maximum Out-of-Pocket: $13,100
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HSA Contribution Limits:
- HSA contributions are funds that are deposited into your HSA. Although anyone can make deposits into your HSA, (whether that's you, your employer, or a generous relative) federal law sets the maximum amount that can be deposited on an annual basis.
| 2017 HSA Contribution Limits |
| Coverage |
Regular |
Catch-Up (Age 55+) |
| Individual |
$3,400 |
$1,000 |
| Family |
$6,750 |
$1,000 |
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Individual Policy:
Maximum 2015 Contributions: $3,400
If Age 55+ (w/ $1,000 catch-up): $4,400
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Family Policy:
Maximum 2015 Contributions: $6,750
If Age 55+ (w/ $1,000 catch-up): $7,750
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