Accounts FAQs

2020 Plan Year Information

What are the main advantages of an HSA?

If I enroll in Medical Plan Option C, do I have to contribute to an HSA?

If I contribute to the HSA, will the entire amount of my annual contribution be available to me immediately?

Does it matter when I open my HSA?

Is there a time limit to submit expenses for reimbursement?

Do I have to invest my HSA?

If I want to invest my HSA money, when can I start?

What happens to my investments if my cash balance falls below $500?

How does the HSA work when I need to pay a health care expense?

Can I take a distribution from my HSA for non-health care-related expenses?

Is there a limit on how much I can accumulate in my HSA over time?

If my spouse also has an HSA, is there a limit to what we can contribute together?

What if I already have an HSA from a previous employer?

What happens to my HSA if I decide to switch from Option C to a different option in the future?

What happens to my HSA if I leave Morgan Stanley?

Can I have an HSA and a Health Care FSA at the same time?

What is a Limited Purpose Flexible Spending Account (FSA)?

If I have a Health Care FSA in 2020 and I open an HSA for 2021, will I still have a grace period in early 2021 to spend any leftover FSA balances?

Why should I enroll in a Health Care FSA?

What are eligible Health Care FSA expenses?

Who can I cover with my Health Care FSA?

How much can I contribute to a Health Care FSA?

What happens if I don’t use all of the money in my Health Care FSA?

How long do I have to submit my Health Care FSA expenses for reimbursement?

When can I start using my Health Care FSA?

Do I have to be enrolled in the Firm’s plans to have a Health Care FSA?

Why should I enroll in a Dependent Day Care FSA?

Who can I cover with a Dependent Day Care FSA?

How much can I contribute to a Dependent Day Care FSA?

What happens if I don’t use all of the money in my Dependent Day Care FSA?

How long do I have to submit my Dependent Day Care FSA expenses for reimbursement?

When can I start using my Dependent Care FSA?

Can I use my Health Care FSA for dependent day care expenses?

Can I change the amount of my Health Care and Dependent Day Care FSA contributions during the year?

How can I save on the cost of my commute to work?