Who is eligible to set up a Health Savings Account?
A: Individuals must be enrolled in or covered by a High Deductible Health Plan (HDHP) and cannot be covered by any other insurance that is not an HDHP, cannot be entitled to Medicare, and cannot be claimed as a dependent on another person's income tax return.

What are the benefits of a Health Savings Account?
A: Health Savings Account holders enjoy lower insurance premiums, tax deductible contributions, tax-deferred interest, tax-free withdrawals (on qualified expenses), balance rollovers, portability, and personal control over their health care costs.

How can I roll over my existing HSA to a National Penn HSA?
A: You may withdraw any or all of your funds from your existing HSA and deposit the funds into a National Penn HSA within 60 days. All you need to do is ask us for an HSA transfer rquest form, fill it out, and submit it to your current HSA provider. They will automatically transfer the funds to our Bank. This transaction will not be reportable to the IRA.

What are "qualified expenses" with a HSA?
A: Any expense that the IRS defines as a "Qualified Medical Expense." This includes but is not limited to:

• Standard medical services provided by physicians, surgeons, and specialists
• Co-payments, coinsurance, and deductibles
• Prescription medicines and drugs
• Eyeglasses, contact lenses, and laser eye surgery
• Dental treatment including x-rays, fillings, braces, extractions, and dentures.