Your HSA is not considered activated until money is contributed to it. There are a few ways you can contribute to your account to activate it.
If your employer contributes to your HSA, your HSA will be activated. You can also activate the HSA by making a deposit. Once your HSA is active, you can use the money in your HSA, tax-free, to pay for your plan deductible and other eligible health care expenses.
Only medical expenses incurred after the HSA is activated can be reimbursed. If you need to use your HSA to pay for a qualified medical expense but you haven't received a contribution from your employer yet, you can activate the HSA by making a deposit of your own.
Expenses that occur before your HSA is active are not allowed to be covered by HSA funds. It's important to activate your HSA so you can use those funds to cover eligible expenses as they come up.
Set up direct deposit from your paycheck
This type of HSA contribution happens before taxes are taken out of your paycheck. Work with your employer's benefits administrator to set up this type of contribution.
Make a one-time deposit
One-time deposits can be made from your personal bank account into your HSA account. You can make online contributions anytime by authorizing withdrawals from your savings or checking account or mailing your contributions to CareFirst.
Make a one-time deposit on https://member.carefirst.com/mos/#/login
- Sign in at www.carefirst.com/myaccount and select your spending account profile.
- Choose Make a Deposit from the I Want To... menu.
- Click Make a One-Time Deposit.
- Enter the amount you want to transfer and click Next.
- Select the bank account you want to transfer the money from.
- Enter the date that the transfer will be posted.
- Enter the tax year for the transfer.
- Agree to the terms and conditions for making a deposit.
- Click Make Deposit.
Set up a recurring deposit
You can set up reoccurring deposits from your personal bank account. You can choose both the amount and the date that deposits are added to your HSA each month.
Schedule a recurring monthly deposit on https://member.carefirst.com/mos/#/login
- Sign in at www.carefirst.com/myaccount and select your spending account profile.
- Choose Make a Deposit from the I Want To... menu.
- Click Set up a Recurring Deposit.
- Enter the amount you want to transfer and click Next.
- Select the bank account you want to transfer the money from.
- Choose which day of the month you'd like the deposit to be initiated.
- Agree to the terms and conditions for making a deposit.
- Click Make Deposit.
