HSA and HRA Information

Owned by Kaleb Garcia
Last updated: May 09, 2024
2 min read

Health Savings Account (HSA)

If you have been enrolled in the HDHP/HSA (High Deductible Health Plan with Health Savings Account), your departure from SPU will terminate your health plan, but your Health Savings Account will remain with you. Here are your next steps:

  • First – Your current Health Savings Account and card will remain open, but it will no longer be associated with SPU.

  • Second – You should not make additional contributions to your HSA until you establish coverage under a new HSA-qualified medical plan (or continue coverage with your former employer's HSA-qualified medical plan under COBRA, if applicable).

  • Third – Any account fees that had previously been paid by SPU will become your responsibility, and you will be responsible for a monthly fee, as well as any debit card issuance fee, as disclosed in your HSA Bank enrollment package. These fees will be deducted from your HSA balance as incurred.

  • Fourth - Update your HSA email address to your personal one. You might also consider downloading the HSA Bank Mobile App and sign up for electronic preferences.

You will continue to have access to your HSA balance. If you establish coverage under a different employer plan that also features an HSA, you can request that your HSA balance be rolled over into the newly established HSA.

To update your account or to request a balance rollover form, log into the Member Website at hsabank.com or by calling Customer Support at the number on the back of your debit card.

Health Reimbursement Account (HRA)

If you were enrolled in the HDHP/HRA, (High Deductible Health Plan with Health Reimbursement Account), your HRA funds will be forfeited back to SPU at the end of the month in which you separate from service with SPU.  However, keep the following in mind:

  • First, you have 90 days from the last day of your active health plan coverage (the last day of the month in which you terminate your SPU employment), to utilize any remaining HRA funds to pay for qualified healthcare expenses with dates of service that occurred before your active health plan coverage termination date.

  • Second, you CANNOT use your HRA card to pay for qualified healthcare expenses with dates of service within the 90 day window, described above. Claims would need to be filed either on the Member Website at hsabank.com, through the HSA Bank Mobile App, or by using a paper form.

HSA Account Termination Flyer