Other Things to Note

Here are some other important things to note about the HSA:

  • To be eligible for the HSA, you must participate in a CDHP medical option and you cannot have any other medical coverage (including coverage under your spouse's plan) or a Flexible Spending Account. If enrolled in the HSA, you may participate in the Limited Purpose Flexible Spending Account.
  • Many popular online tax services can easily incorporate your HSA contributions and withdrawals into your tax return—using IRS Form 8889. Citibank will send you two tax forms—a 1099-SA (reports distributions) and a 5498-SA (reports contributions)—which contain information to help you complete Form 8889.
  • If you terminate employment or un-enroll from a CDHP as an active team member during Annual Enrollment, due to a life event, or loss of eligibility, your HSA account will be moved to an ‘unaffiliated account status’ with Citibank. As a result, you will be responsible for paying the monthly maintenance fee, in addition to all other transaction fees associated with your HSA account while it remains open. You will receive a letter from Citibank that will provide more details on this process as well as information on who to contact with any questions.

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