Common use of Nature of HSAs Clause in Contracts

Nature of HSAs. You understand and agree that the Account Owner has all discretionary control for the management, investment, disposition, and control of HSA assets. Neither you nor Blue Cross and Blue Shield may take any actions that would limit an HSA Account Owner’s ability to transfer or rollover HSA funds from one custodian or trustee to another. In addition, neither you nor Blue Cross and Blue Shield may seek to control the investment of assets in an HSA or to restrict the ability of HSA Account Owner to withdraw funds from an HSA without regard to whether the HSA funds will be used to reimburse amounts paid by the individual for qualified medical expenses for the individual, the individual’s spouse, and any of the individual’s dependents, as defined in Internal Revenue Code, Sections 152 and 213(d). Each HSA Account Owner has sole responsibility for seeking and obtaining reimbursement for any expenditure from his or her HSA.

Nature of HSAs. You understand and agree that the Account Owner has all discretionary control for the management, investment, disposition, and control of HSA assets. Neither you nor Blue Cross and Blue Shield may take any actions that would limit an HSA Account Owner’s ability to transfer or rollover HSA funds from one custodian or trustee to another. In addition, neither you nor Blue Cross and Blue Shield may seek to control the investment of assets in an HSA or to restrict the ability of HSA Account Owner to withdraw funds from an HSA without regard to whether the HSA funds will be used to reimburse amounts paid by the individual for qualified medical expenses for the individual, the individual’s spouse, and any of the individual’s dependents, as defined in Internal Revenue Code, Sections 152 and 213(d). Each HSA Account Owner has sole responsibility for seeking and obtaining reimbursement for any expenditure from his or her their HSA.