Page 29 - Empowered Learning for Dyslexic Children Benefits Guide 2022-2023

How to Contribute to your HSA

As a BlueFund member, you can contribute to your HSA in several ways. When you’re enrolled
in the HDHP, BlueFund creates your HSA. Then you’ll receive a welcome kit to help you activate
your account. Either you or your employer must contribute funds to activate the HSA. You
cannot be reimbursed for any expenses occurring before your account’s activation. Once your
HSA is activated, the money can be used to pay for eligible health care expenses.

Below are three ways to make Schedule a recurring deposit
contributions: You can make recurring deposits from a personal
bank account and choose both the deposit amount
Set up direct deposit from your paycheck
This contribution happens before taxes are taken and date for each month’s deposit. The total
out of your paycheck. Contact your benefits of these contributions within the calendar year
administrator to set up direct deposit to your HSA. qualifies as a deduction on your tax return.

Make a one-time deposit 1. Log in to My Account and click the Coverage
One-time online deposits go straight from your tab, then click BlueFund HSA.
personal bank account into your HSA and qualify as 2. In the I Want To.. section of the page, click
a deduction on your tax return. Make a Deposit.
3. Enter the amount you want to transfer and
1. Log in or register at carefirst.com/
myaccount. click Next.
4. Select the bank account where the funds will
2. Click the Coverage tab at the top of the screen,
then click BlueFund HSA. be withdrawn.
5. Choose which day of the month you’d
3. In the I Want To.. section of the page, click
Make a Deposit. like to initiate the deposit.
4. Enter the amount you want to transfer and 6. Agree to the deposit terms
click Next. and conditions.
7. Click Make Deposit.
5. Choose the bank account where the funds
will be withdrawn.
6. Enter the date of the funds transfer.
7. Enter the tax year for the transfer.
8. Agree to the terms and conditions for making
a deposit.
9. Click Make Deposit.

7 ■ Health Savings Account (HSA) Member Guide