A healthy family smiling and laughing outside.

Eligible Expenses

You will receive a PayFlex Card to pay for eligible expenses, but there are also other ways to use your HSA funds. If you pay out of pocket, you can request reimbursement from your HSA. You can also have the reimbursement deposited into your personal checking or savings account, or pay the provider directly with the electronic bill payment tool.

Some of the many ways you can use your HSA funds include:

  • Deductibles and coinsurance;

  • Prescription drugs;

  • Glasses, LASIK eye surgery and contact lenses;

  • Dental and orthodontic care;

  • Chiropractic and acupuncture treatments;

  • Certain fertility services, including IVF; and

  • Medicare premiums during retirement.

Using HSA and FSA Together

If you are enrolled in WoodmenLife’s HSA plan, or an HSA plan through your spouse’s employer, you may also open a Healthcare Flexible Savings Account. In this case, the FSA can be used for vision and dental costs only.

Tax Requirements for HSA Enrollees

Form 1099-SA
This form shows withdrawals from your HSA. The information needs to be included on the federal tax return. This form will be mailed at the end of January; you can also download it from the PayFlex member website.

Form 5498-SA
This form reports your contributions to your HSA, and should be retained for your records. This form is not needed to file your federal tax return. PayFlex will mail you the form in May or you can access it on the PayFlex member website.

Eligibility

Available to those enrolled in the Select HSA Plan (Health)

You are eligible to contribute to the HSA if you:

  • Are not covered by any other health plan, unless it is another HSA compatible health plan;

  • Are not enrolled in Medicare, if Medicare eligible;

  • May not be claimed as a dependent on another person’s tax return.

Go Mobile

PayFlex App StorePlay | PayFlex Google Play

How it Works

After the health claim has been processed by Blue Cross and Blue Shield, your portion can be paid with the Health Savings Account (HSA).

Benefit Details

  • WoodmenLife provides up to $500 per year into the savings account for associate only coverage and $1,000 for associate plus coverage. 50% is deposited to the HSA in the first month of coverage; the remainder will be deposited on a semi-monthly basis.

  • The amount will be prorated if you are not enrolled for the entire year.

  • You also have the opportunity to contribute funds to this account on a pre-tax basis. The combined employer and associate contribution is limited to:

    • 2021: $3,600 for Associate Only and $7,200 for Associate Plus coverages

    • 2022: $3,650 for Associate Only and $7,300 for Associate Plus coverages

  • Those age 55 or older can contribute an additional $1,000 in catch-up contributions.

  • Contributions can be revised each pay period by emailing  WoodmenLife Benefits & Well-being.

Cost

Monthly maintenance fees are paid by WoodmenLife.

Customer Service: 1-800-225-3108
Monday – Thursday 7:00 a.m. to 5:00 p.m.
Friday 7:00 a.m. to 12:00 p.m. (Central Time)

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© 2022 Woodmen of the World Life Insurance Society
Omaha, Nebraska

The information on this page is a partial description of benefits, limitations, exclusions, and other provisions of the group benefits provided by Woodmen of the World Life Insurance Society (WoodmenLife). If there is a difference between the information in this summary and the plan document for each plan, the plan documents govern. Eligibility requirements apply to each of the benefits offered, criteria may include employment status and/or individual qualifications. For more detailed information, refer to the Summary Plan Description of each plan. WoodmenLife may amend these plans at any time. The description of the plan is not a guarantee of benefits and should not be construed as such.

This is the Life is a registered service mark of Woodmen of the World Life Insurance Society.

This is a solicitation of insurance and an agent may contact you.

Securities are offered through Woodmen Financial Services, Inc. (WFS), 1700 Farnam Street, Omaha, NE 68102, 877-664-3332, member FINRA/SIPC, a wholly owned subsidiary of Woodmen of the World Life Insurance Society (collectively “WoodmenLife”). Securities other than the WoodmenLife Variable Annuity are issued by companies that are not affiliated with WoodmenLife. This material is intended for general use with the public. WFS is not providing investment advice for any individual or any individual situation, and you should not look to this material for any investment advice. WFS has financial interests that are served by the sale of these products or services.

WoodmenLife Extras are available to members. An individual becomes a member by joining our shared commitment to family, community and country, and by purchasing a WoodmenLife product. These extras are not contractual, are subject to change and have specific eligibility requirements.

Some WoodmenLife Extras include additional membership requirements including length of membership, number of qualifying members in household and/or a qualifying event.

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A+ Financial Rating

This company was issued a A+ (Superior) rating by the A.M. Best Company, click for additional details. WoodmenLife has been awarded a rating of A+ (Superior), the second highest ranking out of 15, for its financial strength and operating performance in 2021 by A.M. Best, an independent rating company that is nationally recognized for its objective reporting and rating of insurers.

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