You can open your Health Savings Account once you are enrolled in one of Insperity’s HDHP medical plans.
Note: You should only use your HSA for expenses incurred after your HDHP coverage begins and after your HSA has been opened. The only exception is if you had continuing coverage under another HDHP before your Insperity coverage begins or have an existing HSA.
Coverage under the medical plan will end when your enrollment in that plan terminates. However, your HSA belongs to you and is portable and non-forfeitable. To be eligible to continue contributing to the HSA, you must be HSA eligible.
You may pay for qualified medical expenses from your HSA at any time. Once contributions are made to your HSA, your account can be used to pay for qualified medical expenses tax-free, even if you are no longer covered under a high-deductible HSA-eligible medical plan. The funds in your account roll over automatically each year and remain indefinitely until used. There is no time limit on using the funds.
Here are your HSA Options once your enrollment ends: