FAQs about Health Savings Accounts

Log in to My Alerus, locate your plan under Health & Benefits and then click Manage My Account. For help logging in, refer to Benefits Account Access.

Refer to Eligible Expenses.

HSA funds can only be rolled into another HSA. 401(k) funds can never be rolled into an HSA, but you are allowed a one-time transfer from an IRA into an HSA. An IRA transfer into an HSA is subject to the maximum annual HSA contribution limit.

You will designate a beneficiary at the time your HSA is established. If the beneficiary is your spouse, the HSA becomes your spouse’s HSA. If the beneficiary is not your spouse, the HSA ceases to be an HSA and the value of the HSA becomes taxable to the designated beneficiary.

You are required to file Form 8889 with your personal income taxes.

You may receive two tax forms for your Alerus HSA, Forms 1099-SA and 5498-SA, in January/early February. Alerus files these forms with the IRS by January 31 each year. If you have an HRA, FSA, or Commuter benefit you do not need to report these on your tax forms and you will not receive any tax documentation from Alerus.

Form 1099-SA

Form 1099-SA reports total distributions paid from your HSA, including checks or direct deposits we issued you and any HSA debit card purchases you made within the tax year.

Form 5498-SA (informational purposes only)

Form 5498-SA reports total contributions for the prior tax year, as well as the fair market value of your HSA as of the end of the year. This form is not part of your tax return.

Form 8889

You’ll use the information from your 1099-SA and/or 5498-SA to complete Form 8899 when filing your tax return. Alerus does not issue this form. Learn more.

To access your tax forms online:

1. Log into My Alerus.
   • New users? Set up online access.
2. Select Your HSA Plan and then choose Manage My Account.
3. Select the Message Center tab.
4. Click View Statements. Tax forms will be under HSA Tax Statements.

How to access your forms through the Alerus Benefits mobile app.

Registering for the Alerus Benefits mobile app.

Any eligible expense incurred on or after the date that you established your HSA can be paid from your HSA. Expenses incurred prior to the establishment of your HSA are not eligible.

This responsibility lies with you, the account holder. You are required to retain documentation to support these expenses for your own personal records, as well as for individual audit purposes.

You can contribute up to the annual maximum amount as determined by the IRS. See HSA Limits.

Contact the incoming HSA custodian for a transfer form.

Only if it is a “limited purpose” flexible spending account, which is limited to vision, dental, and orthodontia expenses.

Yes, you can have more than one HSA. However, the maximum contribution limit applies to you as an account holder, and total contributions to all HSAs must not exceed that limit.

Yes. However, the maximum family contribution amount must be split between you.

If you are no longer covered under a high deductible health plan you may no longer contribute to the HSA. However, you can continue to incur expenses and spend down your account. Contributions may resume when coverage under a qualifying high deductible health plan resumes.

Insurance that pays a fixed amount per day (or other period) of hospitalization or coverage primarily related to accidents, vision care, dental care, long-term care, disability, specific diseases, or various liabilities.

Yes, contribution amounts can be adjusted as long as they do not exceed the annual limit.

You may be allowed a corrective distribution for excess contributions. The IRS will impose an excise tax (see IRS Form 5329) on contributions made in excess to the annual limit. You will also be required to pay tax on any interest or earnings on excess contributions.

If you establish an HSA mid-year, you can contribute the full annual HSA maximum, provided you remain eligible for the remainder of that year and through the end of the following tax year. See contribution limits.

Your HSA requires two steps to activate your debit card.

1. Activate your card by calling 866.898.9795.
2. Accept the Terms and Conditions of the HSA (including the HSA Custodial Agreement, Patriot Act Disclosure, and Electronic Disclosure) online or via our mobile app.

To accept Terms and Conditions online log in to My Alerus, select your HSA under Health & Benefits, then click Manage My Account from the right side menu. A new window will open and require you to answer security questions. Answer and move on to the next page. Review and accept the three Terms and Conditions documents including:

• HSA Custodial Agreement
• Patriot Act Disclosure
• Electronic Disclosure

To accept Terms and Conditions via the Alerus Benefits mobile app, log in to the app. For help logging in, visit Alerus Benefits Mobile App. The Terms and Conditions documents should pop up, if not, go to Profile and then Documents. Review, and accept the three Terms and Conditions documents including:

• HSA Custodial Agreement
• Patriot Act Disclosure
• Electronic Disclosure

Allow up to 20 minutes after accepting the Terms and Conditions before using your benefits debit card for a purchase. This is a good time to update HSA Beneficiary Elections.

Log in to My Alerus, locate your plan under Health & Benefits and then click Manage My Account. Select Banking/Cards from the Accounts tab to view your debit card status. For help logging in, refer to Benefits Account Access.

The card will recognize that the swipe is for a non-eligible expense and take the money from your health savings account if available.

This could have happened because your provider/merchant has the item/service or their debit/credit card machine coded differently. You can submit the eligible expense for reimbursement from your Flexible Spending Account. If you choose to pay back the funds to your health savings account you can do so by sending a check with a completed HSA Excess Distribution Request.

The card will take available funds from the purpose flexible spending account first because it is a covered limited purpose expense.

The debit card will take what funds are available from the limited purpose flexible spending account and take the remaining balance (if any) from your health savings account if available.