HSA Basics
This is what the acronym “HSA” stands for.
What is Health Savings Account?
The acronym COBRA stands for this lengthy federal law enacted in 1985.
What is the Consolidated Omnibus Budget Reconciliation Act?
This is the 2025 HSA contribution limit for an individual.
What is $4,300?
This is the term for life events like termination of employment or reduction in hours that cause someone to lose health coverage and become eligible for COBRA.
What is a Qualifying Event?
This color in the Classic portal signifies internal-only information that should not be shared with clients.
What is goldenrod?
To be eligible for an HSA, you must be enrolled in this type of health insurance plan.
What is a High Deductible Health Plan (HDHP)?
This is the standard duration of COBRA coverage for most qualifying events.
What is 18 months?
Unlike FSAs, HSAs are not subject to this common end-of-year spending rule.
What is “use it or lose it”?
This form of coverage may apply instead of COBRA for employees in small group plans, depending on the state.
What is State Continuation?
These five states are where HealthEquity administers State Continuation coverage. (Hint: Think coasts, cornfields, and cowboys.)
What are IA, SD, CA, TX, and NY?
This IRS publication outlines the rules for HSA eligibility, contributions, and distributions.
What is Publication 969?
This federal agency oversees COBRA compliance.
What is the Department of Labor?
For HSA contributions sent via PPD, this is how long it typically takes to appear in the portal.
What is 3–5 business days?
COBRA coverage doesn’t always last the full 18 or 36 months. Name three reasons that would cause someone to lose COBRA coverage early.
Premiums are not paid on time or in full.
The employer ceases to maintain any group health plan.
The qualified beneficiary gets coverage under another group health plan after electing COBRA.
The qualified beneficiary becomes entitled to Medicare after electing COBRA.
The qualified beneficiary commits fraud or other conduct that would allow the employer to terminate coverage for an active employee (like misusing the plan).
These are the two fields in Complink that should be updated when an implementation is complete.
What are the Delivery Specialist (COBRA) and Turn Over to Client Services fields?
This HSA rule allows individuals age 55 and older to contribute an additional $1,000 each year above the standard contribution limit.
What is the Catch-Up Contribution Rule?
COBRA coverage can extend to this length if the employee qualifies for a disability extension.
What is 29 months?
If you withdraw HSA funds for non-qualified expenses before age 65, this penalty applies.
What is 20%?
This is the maximum length of COBRA coverage available if a qualified beneficiary experiences a second qualifying event (like divorce or death of the employee) after initially electing COBRA.
What is 36 months?
In the Complink Contract tab, this field identifies who is responsible for paying fees if it’s someone other than the client.
What is the Bill To field?
Regardless of the day HSA-qualified coverage begins, HSA eligibility always starts on this day of the month.
What is the 1st of the month?
This is the number of days an employer has to notify an employee of their COBRA rights after a qualifying event.
What is 14 days?
This is the latest date you can contribute to your HSA for the previous tax year.
What is the tax filing deadline?
This is the only type of employee termination that makes someone completely ineligible for COBRA coverage.
What is gross misconduct?
Once a broker is registered in Classic broker portal, their Broker ID will always begin with this letter.
What is the letter “A”?