How does a ConsumerDirect HSA work?

Choose a High Deductible Health Plan

We offer two types of qualified High Deductible Health Plans. The PPO (Preferred Provider Organization HDHP offers in- and out-of-network benefits. The EPO (Exclusive Provider Organization) HDHP offers in-network benefits. Either type of HDHP can be paired with a ConsumerDirect HSA.

Select our preferred HSA partner or choose your own

It is important to select a high-quality HSA custodian. Our preferred HSA partner is First HSA. Choosing First HSA makes it easier to coordinate the setup, enrollment, and administration of the HDHP and HSA components. Your clients can also choose any qualified financial custodian for your ConsumerDirect HSA solution.

HSA funds can be used for IRS-qualified medical expenses

HSAs can be funded with pre-tax or tax-deductible contributions, up to annual limits set by the IRS. One of the most important factors in increasing participation in an HSA plan is company matching contributions. The average company contribution in 2010 was $858 for individuals and $1,546 for families. Account balances grow tax-free and may earn interest. Withdrawals are tax-free as long as the money is used for IRS-qualified medical expenses. State taxes may vary. There are no "use it or lose it" provisions with an HSA.