Personal Spending Accounts
Stretch your health care dollars with a personal spending account
A personal spending account paired with your Concordia Health Plan option makes it possible for you to use tax-free dollars to pay for eligible medical, prescription, dental, vision and dependent care expenses. There are three types of PSAs – health savings account, health reimbursement arrangement and flexible spending account (medical and dependent care).
What’s the benefit of a PSA?
What are the types of Personal Spending Accounts?
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Medicare and HSAs
Are you at or approaching age 65 and currently contributing to a health savings account? Be aware that enrolling in Medicare or receiving Social Security benefits ends your eligibility to contribute to an HSA. Contact your employer right away if this applies to you.
Questions? Contact the Concordia Plans Health Services Team at 888-927-7526, ext. 6002 or Contact Us.