The Empeople HSA difference
Market-leading rates
Earn interest on your tax-advantaged earnings, whether in your HSA account, or by transferring funds to an Empeople HSA certificate.
Fee-free growth
With no monthly maintenance fees or transfer charges, your balance can grow faster, so you’re better prepared for today’s healthcare costs and tomorrow’s expenses.
5-star mobile access, 24/7
Manage your HSA from anywhere with our top‑rated mobile app. Check balances, track expenses, transfer funds, and pay healthcare bills securely — right from your phone.
HSA benefits and eligibility
A health savings account (HSA) is a long‑term, tax‑smart way to pay for qualified medical expenses your own way.
Empeople HSA benefits
- Tax-deferred earnings*
- Pay no taxes on money used for qualifying expenses*
- No minimum balance required
- No average daily balance requirement
- Unlimited withdrawals
- No monthly fees
Empeople HSA eligibility requirements
- You must be covered by a High-Deductible Health Plan (HDHP)
- Before opening an Empeople HSA, you must first apply for Empeople membership
Please note: You’re not HSA eligible if you’re enrolled in Medicare or claimed as a dependent on another’s tax return.
How to open an Empeople HSA
Apply for Empeople membership
Apply online in minutes! During your application, we’ll ask you how you’re eligible for membership. There are many different ways to join Empeople!
Open your health savings account
Once your membership application has been approved, a relationship manager will contact you to open your HSA and fund your account online.
Receive your HSA debit card
We’ll send your debit card to your address on file. Use it to pay for qualified medical expenses or to make deposits and view your balance at an ATM.
Maximizing your HSA funds
You can use HSA funds to pay for a variety of qualified medical expenses including:
- Co-pays
- Prescriptions
- Vision and dental expenses
- Over-the-counter medications as prescribed by a physician
- Medical supplies & bandages
- Therapy & psychiatry services
- And much more!
Unlike flexible savings account (FSA) funds, HSA funds roll over year after year. Once an account holder reaches age 65, the funds can be used for anything — not just medical expenses — without incurring a penalty.*
Health savings account FAQs |
Why is an HSA considered a tax-advantaged account?
An HSA is generally exempt from federal income tax and you can take a distribution from your HSA at any time. Keep in mind, only distributions used exclusively to pay for qualified medical expenses are tax-free. Earnings on amounts in an HSA aren’t included in your income while held in the HSA.*
What counts as a qualified medical expense?
Qualified medical expenses are medical expenses that are:
- Incurred on behalf of an HSA owner, spouse, or dependents;
- Incurred after an HSA has been established;
- Not covered by insurance; and
- Paid by the HSA owner, spouse, or dependents.
HSA-qualified medical expenses are costs that would generally qualify for the medical and dental expense tax deduction, including amounts paid for doctor’s fees, prescriptions, and certain dental and vision care. Most insurance premiums are not covered.
A more complete list of qualified medical expenses is provided by the IRS.
Is there a limit to how much I can contribute to an HSA?
Yes. The IRS sets annual HSA contribution limits each tax year, which can change based on factors like coverage type (individual or family) and age. For the most current limits and eligibility details, visit the IRS website.
Is my HSA activity reported to the IRS?
Yes. HSA activity is reported to the IRS. However, it’s important to understand that your HSA is a self-managed account, which means you are responsible for how it’s used. Any deposits (contributions) and withdrawals (distributions) made throughout the year are reported as HSA activity. Because of this, it’s your responsibility to:
- Stay within annual contribution limits set by the IRS.
- Ensure withdrawals are used for qualified medical expenses.
- Understand potential taxes or penalties for non-qualified withdrawals.
What if I don’t use up my annual contributions every year?
Unlike a flexible savings account (FSA), HSA funds roll over year after year, meaning you don’t have to “use it or lose it.” Once the account holder reaches retirement age, the funds can be used for anything — and are no longer required to be used for medical expenses.
I applied for Empeople membership, now what?
Once you are approved for membership, an Empeople relationship manager will contact you to customize your account experience. They will help you open your health savings account and get your account funded.
How do I use my HSA debit card?
You can use your HSA debit card with your PIN or run transactions as credit to pay for qualified medical expenses. You can also make deposits into your HSA account and view balance inquiries at participating ATMs nationwide.
* Not tax advice. Please consult your tax advisor for guidance or more information.