Horizon MyWay HSA
Horizon MyWay HSA pairs a high-deductible health plan with a Health Savings Account (HSA) to cover eligible medical expenses. Once the deductible is met, your health care expenses are paid according to the terms of your health plan. Unused HSA funds roll over from year to year and are portable. That means you can access your HSA funds regardless of employer, age, marital status changes, future medical coverage, or state of residence. What's more, your HSA funds are held in a money market fund and accrue tax-free interest.
Horizon MyWay HSA has three main components:
- A high-deductible health plan, such as Horizon Direct Access or Horizon PPO
- A Health Savings Account
- Tools and resources to help members make informed decisions about health care and related spending
HSAs were established by the Medicare Modernization Act of 2003 with an effective date of January 1, 2004. HSAs are available to individuals with a qualified, high-deductible health insurance plan. The health insurance plan is paired with a savings account to cover eligible medical expenses not covered by the health insurance plan.
How do you use your HSA funds?
HSA funds can be used for any of the following:
- Save for future medical expenses.
- Help bridge the gap to benefits until they meet the annual health plan deductible.
HSA funds are portable, which means that you can access your account regardless of a change of employer, age, marital-status changes, future medical coverage, or state of residence. HSA funds roll over from year to year.
Who Funds the HSA?
Both you and your employer can contribute to an HSA. Contributions to HSAs are 100 percent tax deductible. Although HSA contributions must stop when you enroll in Medicare, you can continue to access your HSA balances. Annually, your HSA can be funded up to the lower amount of the deductible or the maximum specified by law.
HSA Investment Option
Each HSA is held in an interest bearing account. Once the account reaches a balance determined by our financial institution, there is the option to invest the dollars in a variety of mutual funds.
Accessing HSA Funds
There are two convenient ways in which you can access HSA dollars:
- A Horizon MyWay VISA/Debit Card
- Checks
You can access your account information via the phone and the Web.
If you are covered by a qualified, high-deductible health plan, you are eligible to open a Horizon MyWay HSA.
If you are covered under another nonqualified, high-deductible health plan, you are not eligible. For example: If you are covered by your spouse’s plan that is not a qualified, high-deductible health plan, you are not eligible, even if your spouse’s group has its own qualified, high-deductible health plan.
Specified disease coverage, hospital indemnity, vision, dental, accident, and disability do not count as other coverage.
If you can be claimed as a dependent on another person’s tax return, you are not eligible.
If you are enrolled in Medicare, you are not eligible to contribute to an HSA. You can, however, still use accumulated funds.
What's Covered
Eligible health care expenses are defined by the IRS as amounts paid for the diagnosis, cure, mitigation or treatment of a disease and for treatments affecting any part or function of the body. The expenses must be primarily to alleviate a physical or mental defect or illness.
With this definition in mind, we have listed below many of the medical expenses eligible for payment under Horizon MyWay to the extent such expenses are not covered by your medical or dental insurance. This list is not meant to be all inclusive. Other expenses not specifically mentioned may also qualify. For additional information, please refer to Medical and Dental Expenses, or Section 213(d) of the Internal Revenue Code.
DENTAL SERVICES
- Crowns/Bridges
- Dental X-Rays
- Dentures
- Exams/Teeth Cleaning
- Extractions
- Fillings
- Gum Treatment
- Oral Surgery
- Orthodontia/Braces
INSURANCE-RELATED ITEMS
- Insurance Premiums
- Pre-existing Condition Expenses (medical)
- Private Hospital Room Differential
LAB EXAMS/TESTS
- Blood Tests
- Cardiographs
- Diagnostics
- Laboratory Fees
- Metabolism Tests
- Spinal Fluid Tests
- Urine/Stool Analyses
- X-Rays
MEDICATION
- Insulin
- Over-the-Counter Medicine (to treat illness or medical condition)
- Prescribed Birth Control
- Prescribed Vitamins (to treat a specific disease and not available over the counter)
- Prescription Drugs*
OBSTETRIC SERVICES
- Midwife Expenses
- Ob/Gyn Exams
- Ob/Gyn Prepaid Maternity Fees (reimbursable after date of birth)
- Postnatal Treatment
- Prenatal Treatment
- Prescribed Prenatal Vitamins
PRACTITIONERS
- Allergist
- Chiropractor
- Christian Science
- Dermatologist
- Homeopath
- Naturopath
- Osteopath
- Physician
- Psychiatrist
- Psychologist
OTHER MEDICAL TREATMENTS/PROCEDURES
- Acupuncture
- Alcoholism (in patient treatment)
- Biofeedback Therapy (in medically necessary situations)
- Cosmetic Surgery (if medically necessary due to a congenital defect)
- Drug Addiction
- Hearing Exams
- Hospital Services
- Infertility
- In-Vitro Fertilization
- Norplant Insertion or Removal
- Patterning Exercises
- Physical Examination (not employment related)
- Physical Therapy
- Speech Therapy
- Sterilization
- Transplants (includes organ donor)
- Vaccinations/Immunizations
- Vasectomy and Vasectomy Reversal
- Well Baby Care
OTHER MEDICAL EQUIPMENT, SUPPLIES AND SERVICES
- Abdominal/Back Supports
- Ambulance Services
- Arches/Orthopedic Shoes
- Contraceptives, Prescribed
- Counseling
- Crutches
- Guide Dog (for visually/hearing impaired person)
- Hearing Aids and Batteries
- Hospital Bed
- Lead Paint (if not capital expense and incurred for a child poisoned)
- Learning Disability (special school/teacher)
- Medic Alert Bracelet or Necklace
- Oxygen Equipment
- Prescribed Medical and Exercise Equipment
- Prosthesis
- Splints/Casts
- Support Hose (if medically necessary)
- Syringes
- Transportation Expenses (essential to medical care)
- Tuition Fee at Special School for Disabled Child
- Wheelchair
- Wigs (hair loss due to disease)
VISION SERVICES
- Artificial Eyes
- Contact Lenses
- Contact Lens Solution
- Eye Examinations
- Eyeglasses
- Laser Eye Surgeries
- Ophthalmologist
- Optometrist
- Prescription Sunglasses
- Radial Keratotomy/LASIK
INELIGIBLE EXPENSES
The following expenses are not allowed by the IRS to be reimbursed under Horizon MyWay to promote general health and are not eligible expenses unless prescribed by a physician for a specific medical ailment. This is not an all-inclusive list.
- Baby-Sitting and Child Care
- Calcium Supplements
- Canceled Appointment Fees
- Contact Lens Insurance
- Cosmetic Surgery/Procedures
- Dancing/Exercise Programs
- Diaper Service
- Discounts/Write-Offs
- Electrolysis
- Exercise Equipment*
- Eyeglass Insurance
- Fitness Programs*
- Hair-Loss Medication
- Hair Transplant
- Health Club Dues
- Herbs and Herbal Medicines
- Homeopathic Drugs
- Illegal Operations or Treatments
- Interest Charges
- Lamaze Classes
- Marriage Counseling
- Massage Therapy**
- Maternity Clothes
- Personal Trainer
- Pregnancy Test (over the counter)
- Prenatal Vitamins (over the counter)
- Prescription Drug Discount Program Premiums
- Retin A*
- Rogaine*
- Smoking Cessation Products (over the counter)
- Special Foods* (cost difference of common product)
- Student Health Fees
- Supplements
- Swimming Lessons
- Teeth Whitening/Bleaching
- Toiletries, Toothpaste, etc.
- Vision Discount Program Premiums
- Vitamins
- Weight Loss Programs**
* Generally ineligible; in limited situations, eligible only with doctor's certification identifying a qualifying medical diagnosis, medical necessity and length of treatment program.
** Eligible only with doctor's certification identifying the physical nature of the medical condition and length of treatment program. Massage therapy for the sole purpose of tension/stress relief does not qualify as an eligible expense. Over-the-counter products/medications deemed for "medical care" will be considered reimbursable. "Medical care" includes amounts paid for the diagnosis, cure, mitigation, treatment or prevention of disease. Amounts paid for medicines and drugs are expenditures for medical care, but expenditures that are merely beneficial to the general health of an individual are not.
This list is subject to change. For an updated list, please check with the person in charge of benefits at your company.
Eligible health care expenses are defined by the IRS as amounts paid for the diagnosis, cure, mitigation or treatment of a disease and for treatments affecting any part or function of the body. The expenses must be primarily to alleviate a physical or mental defect or illness.
With this definition in mind, we have listed below many of the medical expenses eligible for payment under Horizon MyWay to the extent such expenses are not covered by your medical or dental insurance. This list is not meant to be all inclusive. Other expenses not specifically mentioned may also qualify. For additional information, please refer to Medical and Dental Expenses, or Section 213(d) of the Internal Revenue Code.
DENTAL SERVICES
- Crowns/Bridges
- Dental X-Rays
- Dentures
- Exams/Teeth Cleaning
- Extractions
- Fillings
- Gum Treatment
- Oral Surgery
- Orthodontia/Braces
INSURANCE-RELATED ITEMS
- Insurance Premiums
- Pre-existing Condition Expenses (medical)
- Private Hospital Room Differential
LAB EXAMS/TESTS
- Blood Tests
- Cardiographs
- Diagnostics
- Laboratory Fees
- Metabolism Tests
- Spinal Fluid Tests
- Urine/Stool Analyses
- X-Rays
MEDICATION
- Insulin
- Over-the-Counter Medicine (to treat illness or medical condition)
- Prescribed Birth Control
- Prescribed Vitamins (to treat a specific disease and not available over the counter)
- Prescription Drugs*
OBSTETRIC SERVICES
- Midwife Expenses
- Ob/Gyn Exams
- Ob/Gyn Prepaid Maternity Fees (reimbursable after date of birth)
- Postnatal Treatment
- Prenatal Treatment
- Prescribed Prenatal Vitamins
PRACTITIONERS
- Allergist
- Chiropractor
- Christian Science
- Dermatologist
- Homeopath
- Naturopath
- Osteopath
- Physician
- Psychiatrist
- Psychologist
OTHER MEDICAL TREATMENTS/PROCEDURES
- Acupuncture
- Alcoholism (in patient treatment)
- Biofeedback Therapy (in medically necessary situations)
- Cosmetic Surgery (if medically necessary due to a congenital defect)
- Drug Addiction
- Hearing Exams
- Hospital Services
- Infertility
- In-Vitro Fertilization
- Norplant Insertion or Removal
- Patterning Exercises
- Physical Examination (not employment related)
- Physical Therapy
- Speech Therapy
- Sterilization
- Transplants (includes organ donor)
- Vaccinations/Immunizations
- Vasectomy and Vasectomy Reversal
- Well Baby Care
OTHER MEDICAL EQUIPMENT, SUPPLIES AND SERVICES
- Abdominal/Back Supports
- Ambulance Services
- Arches/Orthopedic Shoes
- Contraceptives, Prescribed
- Counseling
- Crutches
- Guide Dog (for visually/hearing impaired person)
- Hearing Aids and Batteries
- Hospital Bed
- Lead Paint (if not capital expense and incurred for a child poisoned)
- Learning Disability (special school/teacher)
- Medic Alert Bracelet or Necklace
- Oxygen Equipment
- Prescribed Medical and Exercise Equipment
- Prosthesis
- Splints/Casts
- Support Hose (if medically necessary)
- Syringes
- Transportation Expenses (essential to medical care)
- Tuition Fee at Special School for Disabled Child
- Wheelchair
- Wigs (hair loss due to disease)
VISION SERVICES
- Artificial Eyes
- Contact Lenses
- Contact Lens Solution
- Eye Examinations
- Eyeglasses
- Laser Eye Surgeries
- Ophthalmologist
- Optometrist
- Prescription Sunglasses
- Radial Keratotomy/LASIK
INELIGIBLE EXPENSES
The following expenses are not allowed by the IRS to be reimbursed under Horizon MyWay to promote general health and are not eligible expenses unless prescribed by a physician for a specific medical ailment. This is not an all-inclusive list.
- Baby-Sitting and Child Care
- Calcium Supplements
- Canceled Appointment Fees
- Contact Lens Insurance
- Cosmetic Surgery/Procedures
- Dancing/Exercise Programs
- Diaper Service
- Discounts/Write-Offs
- Electrolysis
- Exercise Equipment*
- Eyeglass Insurance
- Fitness Programs*
- Hair-Loss Medication
- Hair Transplant
- Health Club Dues
- Herbs and Herbal Medicines
- Homeopathic Drugs
- Illegal Operations or Treatments
- Interest Charges
- Lamaze Classes
- Marriage Counseling
- Massage Therapy**
- Maternity Clothes
- Personal Trainer
- Pregnancy Test (over the counter)
- Prenatal Vitamins (over the counter)
- Prescription Drug Discount Program Premiums
- Retin A*
- Rogaine*
- Smoking Cessation Products (over the counter)
- Special Foods* (cost difference of common product)
- Student Health Fees
- Supplements
- Swimming Lessons
- Teeth Whitening/Bleaching
- Toiletries, Toothpaste, etc.
- Vision Discount Program Premiums
- Vitamins
- Weight Loss Programs**
* Generally ineligible; in limited situations, eligible only with doctor's certification identifying a qualifying medical diagnosis, medical necessity and length of treatment program.
** Eligible only with doctor's certification identifying the physical nature of the medical condition and length of treatment program. Massage therapy for the sole purpose of tension/stress relief does not qualify as an eligible expense. Over-the-counter products/medications deemed for "medical care" will be considered reimbursable. "Medical care" includes amounts paid for the diagnosis, cure, mitigation, treatment or prevention of disease. Amounts paid for medicines and drugs are expenditures for medical care, but expenditures that are merely beneficial to the general health of an individual are not.
This list is subject to change. For an updated list, please check with the person in charge of benefits at your company.