SBA Spending & Saving Accounts 17.0.0

SBA Spending & Saving Accounts 17.0.0

UNIVERSITY COLORADO HOSPITAL AUTHORITY – Freeware – iOS
out of 5 votes
Latest Version
17.0.0
image/svg+xml EXCELLENT User Rating

Maximize the potential of your FSA, HSA, or HRA accounts by easily monitoring your balances and account details. The secure application streamlines the management of your health benefits, providing real-time access and user-friendly navigation to all essential account information on-the-go. Key attributes of the application encompass:

  • Simple, Convenient & Secure
    • Effortlessly access the intuitive app using your existing health benefits website credentials (or follow provided alternative instructions).
    • Your mobile device does not store any sensitive account information.
    • Utilize Touch ID or Face ID for swift app login.
  • Comprehensive Information Access
    • Instantly review available balances round the clock.
    • Visualize charts summarizing your account(s).
    • Access current claims details.
    • Directly contact customer service via phone or email.
    • Check statements and notifications conveniently.
    • Determine product eligibility by scanning barcodes.
  • Efficiency-Enhancing Features (subject to compatibility with your account)
    • Initiate reimbursements from your FSA or HSA.
    • Capture or upload receipt images to submit new or existing claims.
    • Monitor, contribute to, and distribute HSA transactions.
    • Facilitate provider payments from any account.
    • Track medical expenses by inputting relevant data and supporting documents.
    • Access and manage HSA investments efficiently.
    • Recover forgotten login credentials.
    • Report lost or stolen debit cards promptly.

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Overview

SBA Spending & Saving Accounts is a Freeware software in the category Home & Hobby developed by UNIVERSITY COLORADO HOSPITAL AUTHORITY.

The latest version of SBA Spending & Saving Accounts is 17.0.0, released on 10/02/2024. It was initially added to our database on 10/02/2024.

SBA Spending & Saving Accounts runs on the following operating systems: iOS.

Users of SBA Spending & Saving Accounts gave it a rating of 5 out of 5 stars.

FAQ

What is an SBA Spending Account?

An SBA Spending Account allows employees to set aside pre-tax money for eligible healthcare expenses.

What is an SBA Saving Account?

An SBA Saving Account allows employees to save pre-tax money for future healthcare expenses, such as retirement healthcare costs or long-term care premiums.

Can employees use both a Spending Account and a Saving Account?

Yes, employees can contribute to both an SBA Spending Account and an SBA Saving Account if offered by their employer.

What are some eligible expenses that can be paid for with an SBA Spending Account?

Eligible expenses may include co-pays, deductibles, prescription medications, vision care, dental care, and other healthcare-related costs.

Can employees change their contribution amounts during the plan year?

Employees can typically make changes to their contribution amounts during open enrollment or if they experience a qualified life event as defined by IRS regulations.

Is there a limit to how much employees can contribute to an SBA Saving Account?

Yes, there are annual limits set by the IRS on how much employees can contribute to an SBA Saving Account. Employers may also place additional limits.

Are funds in the SBA Saving Account portable if the employee changes jobs?

Funds in the SBA Saving Account typically belong to the employee and are portable if they change jobs, as long as the new employer offers a compatible plan.

Are there any tax advantages to using SBA accounts?

Yes, contributions to both SBA Spending and Saving Accounts are typically made pre-tax, reducing the employee's taxable income.

Can funds in the Saving Account be invested?

Some employers may offer the option to invest funds in the SBA Saving Account once a certain balance threshold is reached. Employees should check with their HR department for more information.

How can employees access funds in their SBA accounts?

Employees can usually access funds in their SBA accounts through a debit card linked to the account or by submitting reimbursement claims for eligible expenses.

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