Health Savings Account Myth Busters Logo

We have a complicated relationship with health savings accounts, surrounded by stigmas and misinformation.

InComm Benefits is changing the way you think about HSAs.

HSA myth buster hiding in a bush looking for the truth about health savings accounts.

Debunking HSA Myths

MYTH: HSAs are too complicated.

Green checkmark for HSA myth busters  Contribute with ease:

  • Effortlessly allocate tax-free funds from your paycheck.
  • Track your contributions and monitor your balance on the go with the InComm HSA app.

Green checkmark for HSA myth busters  Connect and consolidate:

  • One card, multiple accounts. Easily access your HSA, FSA (if available), and personal bank account all with a single card.
  • Unsure if a product or medical expense is eligible? No worries—with the InComm HSA debit card you can connect your personal bank account. This backs up purchases that are not eligible, allowing you to maximize savings.
  • Enjoy the simplicity of managing your health expenses in one app.
  • Plus, receive proactive guidance throughout the year to ensure you maximize your savings.

Green checkmark for HSA myth busters  Spend smartly—anywhere:

  • Utilize your InComm HSA debit card for medical expenses at providers like doctors, dentists, and optometrists.
  • Running low on HSA funds? No sweat! Your card seamlessly taps into your personal bank account to cover the difference. Easily reimburse yourself later in the mobile app.
  • But wait, there’s more! Our technology discovers eligible over-the-counter products and mileage expenses automatically. We make it easy to find savings in everyday shopping trips.


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MYTH: I won’t be able to afford my health care expenses with a High-Deductible Health Plan (HDHP).

Navigating high deductible plans might seem daunting at first, but when paired with a Health Savings Account (HSA), both employees and employers can benefit significantly!

Contributing to your HSA reduces your taxable income for the year so you pay less in taxes. Employers also save with HDHP selections. In return they are motivated to use these savings to contribute or match HSA dollars, subsidizing employee’s higher out of pocket costs.

Green checkmark for HSA myth busters  HSAs Offer Tax Benefits:

  • Contributions from your employees’ paycheck are tax-free. These tax-free dollars can be used for over-the-counter products and to pay for medical expenses.
  • Plus, InComm HSA offers a powerful AI driven platform with expert tax-savings strategies and integrated IRS rules

Green checkmark for HSA myth busters  Affordable Premiums for Essential Health:

  • Lower premiums from HDHP can be used to offsets higher deductibles
  • If you don’t know how much to contribute, don’t worry. With InComm’s Spend Now — Contribute Later feature you can use a personal bank account to pay for expenses now, contribute to your HSA account later and at any time use your mobile app to quickly reimburse yourself!

Green checkmark for HSA myth busters  Maximizing HSA Value With AI:

  • InComm Benefits AI boosts HSA value by spotting overlooked expenses and uncovering new ones, such as mileage reimbursement for doctor visits.

Green checkmark for HSA myth busters  Invest Now, Withdraw Tax-Free Later:

  • HSA funds provide a special chance to invest, earning returns and able to be withdrawn tax-free when necessary.
  • With the auto-investment feature, investing is quick and easy on the InComm HSA app.


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MYTH: HSAs are for the healthy and wealthy.

Green checkmark for HSA myth busters  The top 10% of income earners may be experts at saving with their HSAs, but the other 90% can benefit from the same strategies.

InComm Benefit’s HSA uses AI technology to capture all eligible expenses, saving the average family $800 in tax savings per year.*

Green checkmark for HSA myth busters  InComm Benefits is introducing an HSA that’s truly for everyone, not just the top 10%.

  • Everyday Account to cover non-HSA items
  • Automatic receipts for worry-free taxes
  • Technology helps find eligible expenses that are typically missed
  • Spend now and contribute later with quick and easy self-reimbursement at any time
MYTH: HSA funds don’t rollover and if you change jobs, you’ll lose your money.

Green checkmark for HSA myth busters  Reality:

Your HSA is yours forever. It rolls over at the end of the year, and follows you regardless of employer.

MYTH: You have to save all your own receipts to get reimbursed with an HSA.

Green checkmark for HSA myth busters  Reality:

InComm Benefits HSA app automatically creates receipts and saves them for you.

MYTH: HSAs are too limited. You can’t use it for dental, vision or OTC products.

Green checkmark for HSA myth busters  Reality:

HSA accounts can often be used for dental, vision, and over-the-counter at grocery and retail stores.

HSA myth buster using a flashlight looking for the truth about health savings accounts.

Want to learn more about InComm Benefits’ HSA offering? Contact us below or check out our homepage!

Banking services are provided by Coastal Community Bank, member FDIC. The InComm HSA benefits card is issued by Coastal Community Bank pursuant to a license from Visa U.S.A. Inc. InComm spending accounts are FDIC insured up to $250,000 per depositor through Coastal Community Bank, Member FDIC. Privacy notice for Coastal Community Bank can be found here.

Investment products are not insured by Coastal Community Bank, the FDIC, or any Federal Government Agency and may lose value. 

*Sources: US Census Bureau, MEPS, Nielsen, ADA, KFF, Vision Council, EBRI database of 10M HSA accounts Lost tax savings computed as 32% marginal Fed + state + FICA + Medicare. As of September 2020.