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Glossary of terms

Account mentors

Our endearing term for our member services team, who are available every hour of every day to offer helpful insight to you.


This term can be applied to many types of organizations. For the purpose of this guide, administrator refers to the company who holds, or administers, your HSA.


The individual(s) designated to inherit your HSA in the event of your death.


The information about a specific medical service submitted by your provider to your insurance company for processing. You can enter new claims records and access existing claims records in the member portal for payment and documentation purposes, as needed.


Amounts you pay (as a percentage of cost) after you meet your health plan deductible, but before you meet the out-of-pocket maximum. (i.e. 10%, 20%, etc.)


The technical term used to refer to deposits (other than transfers and rollovers) to your HSA.

Contribution limits

The maximum amounts established by the IRS that you can contribute to your HSA. See page 8 for specific limits.


The fixed dollar amount you pay for specified services and prescriptions under most traditional health plans. HSA-powered plans do not typically require copays.

Coverage tier

The level of coverage you have (usually single or family). HSA contribution limits vary by coverage tier.


The amount you must pay before your health plan begins paying toward your costs.


  1. Individual other than yourself, who is covered by your insurance plan (typically a spouse or child).
  2. The IRS has specific requirements to determine tax dependents. Your HSA can be used to pay the qualified medical expenses of any tax dependent, regardless of whether they are covered by your plan. Consult a tax advisor regarding your specific situation.


The technical term used to refer to withdrawals from your HSA.

EFT (electronic funds transfer)

A quick method of transferring funds directly between your personal financial institution and your HSA. You can setup EFT for deposits or withdrawals in the member portal.

Eligible individual

An individual who meets all of the IRS requirements to contribute to an HSA. You can read more about eligible individuals in IRS Publication 969.

EOB (explanation of benefits)

A statement from your insurance that shows the service billed from your provider and the deductible, coinsurance and other covered amounts, as applicable. Compare this to the invoice from your provider to ensure accuracy.


A provider that participates in your health plan network, who agrees to charge negotiated rates established with your health plan.

Insurance ID card

The card, provided by your health plan, that your provider uses to verify coverage and process billing of your claim. It is important that you present this card each time you use health care services.

Insurance premium

The amount you pay (usually per pay period) to have health insurance. HSA-powered plans typically have lower premiums than traditional health plans.


A provider who does not participate in your health plan network, and has no agreement with your health plan. You can still use your HSA to pay qualified medical expenses incurred with out-of-network providers.

Out-of-pocket maximum

For HSA-qualified plans: The maximum amount you will pay out-of-pocket, including prescriptions, and your deductible is included in the calculation. For other plans: The concept is similar, but copays, coinsurance and other costs may or may not be included in the calculation of your out-of-pocket maximum. Contact your health plan for more details about your specific coverage.

Point of sale (POS)

The terminal where you make payment with your HSA debit card.


The doctor or other health care professional who provides health care services.

Provider invoice (provider statement)

The bill from your provider for services. It should reflect the adjustments presented on the explanation of benefits (EOB) from your health plan.

Qualified medical expenses

Expenses that can be paid tax-free using your health savings account. See page 10 for a detailed overview of the expenses.


Money you withdraw from your HSA to pay yourself back for out-of-pocket medical expenses. There is no deadline to reimburse yourself for qualified medical expenses from your HSA.