Merchants certified by SIGIS or planning to be certified by SIGIS must use the Eligible Product List as a basis for identifying the items in their product database The Eligible Product List and regular updates may be downloaded and used by all SIGIS members. Additions and suggested eliminations from the list are to be referred to the Committee for monthly discussion and appropriate action. This list is reviewed monthly by the SIGIS List Committee, a group of benefit plan administrators, to assure Qualifies or does not qualify as a medical expense under IRS Code Section 213(d), 105(b) and applicable IRS guidance under Code Section 125. Using the criteria in this document, SIGIS determines whether a product or service Tiered interest rates from 1% to 2.SIGIS has developed a list of health care over-the-counter items and other services that are considered eligible under Internal Revenue Code Sections 213, 105 and 125 rules.Accept check deposit contributions and Webster Bank banking centers.Offer a contribution monitor for internet banking customers.Online self-service bank features available 24/7/365 account look-up, pay providers, track activity, make investments, access to educational materials.Online 24/7/365 self-service bank features available but not limited to: account look-up, online bill pay, track activity, statements, make investments, access to educational materials.24/7 English and Spanish voice response unit.HSA-specific call center in Massachusetts.Educational portal for Individuals, Employees and Employers.Offer to both group and non-group market segments.As of 2013, trustee for 163 employers with employees residing in RI and 2,132 RI residents.Provides health-based savings solutions to over 25K employers, 600K HSA accounts, and managing over $2 billion in HSA deposits and investments.HSA Bank has over 16 years experience administering HSAs.In 2013, estimated 15K HSA accounts 5K will be RI residents. As of 2013, HSA custodial bank for over 135 employers and their employees, as well as individual clients.is incorporated in Connecticut, with 13 banking centers in Rhode Island. HSA Bank is a division of Webster Bank, N.A.82 branches and 192 ATMs in Rhode Island.$118 billion commercial bank holding company.We encourage you to reach out to HSA trustees directly for the most accurate and reliable information. In addition, keep in mind that there are many HSA providers available to you, and this list represents only two of them. Please note that this content is provided for informational purposes only, and does not represent any endorsement or support for these particular institutions. We received responses from two entities-RBS Citizens and HSA Bank, a division of Webster Bank, N.A.-and have provided a concise version of their responses below. To assist Rhode Islanders interested in opening a Health Savings Account (HSA), HealthSource RI invited interested HSA trustees to respond to a series of questions and informational requests regarding their offerings and services. Save all your receipts and complete the necessary tax forms to claim your deductions (IRS Form 8889). Use your trustee’s preferred payment method-such as a debit card and/or checks-to pay for qualified medical expenses. You can also invest your HSA funds in financial opportunities offered through your trustee. Make contributions to your HSA as you see fit-without exceeding your annual contribution limit. Be sure to find out if your trustee has a minimum balance requirement. Open and activate an HSA with an IRS-qualified trustee. HealthSource RI offers a variety of these plans, which you’ll find listed below in the FAQ section. Any unused funds will accumulate year to year.Įnroll in a high deductible health plan eligible for a Health Savings Account (HSA). You can also invest them to earn interest on your balance. You can use them to pay for qualified medical expenses at any time-without incurring federal tax liabilities or penalties. HSA funds are not subject to federal income taxes. taxpayers enrolled in many high deductible health plans a unique way to save for certain healthcare costs.
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