Is the total contribution amount available in my HSA on January 1 of the plan year, like a Health Care FSA?
No. Unlike a Health Care FSA, the funds in your HSA must accumulate in your account before you can use them. You can monitor your balance in your HealthEquity account online or on our Mobile App so you always know your latest balance. The state contribution will be made on January 7, 2021 for employees enrolled in the State HDHP effective January 1, 2021 but may be used to reimburse expenses incurred between the beginning of the plan year through January 6, 2021.