Eligible expenses: You can use HSA funds, up to the amount currently available in your account, toward any eligible medical, dental, vision or prescription drug expenses (See IRS Publication 502 for more information about eligible expenses). Unlike a Health Care Flexible Spending Account (HCFSA), your HSA is not prefunded at the beginning of the year. The amount available for reimbursement is the amount available in your HSA at the time of the reimbursement request. Under current law, you can even use your HSA to pay for eligible medical expenses after you retire, such as Medicare Supplemental Insurance premiums, Long-Term Care premiums, prescription drugs and medical devices. Or, if you terminate your employment with Morgan Stanley, you can use the funds to pay for care provided through federal or state exchanges or programs or for COBRA premiums.
Paying for care: When you enroll in an HSA, you will receive a debit card, the Your Spending Account (YSA) card, to conveniently pay for eligible items, such as prescription drugs at the pharmacy. You have the option to pay your out-of-pocket costs with your debit card (if funds are available) or you may submit a claim for reimbursement when funds become available. Note: Unlike an FSA, you do not have to use your HSA to pay for health care during the plan year. In fact, under current law, you may choose to submit a claim for reimbursement at any time there are funds in your HSA. For example, you could submit an eligible 2021 expense to be reimbursed in 2031, 10 years later.
Please watch this important video on your 2016 Morgan Stanley Benefits.