Keep Your HSA/FSA Card Safe: Practical Guidance from a Benefits Pro
Each year, many people receive new HSA, FSA, and HRA benefit cards as their new plan year begins. It's an exciting reset point, but it also brings a few risks worth considering. With more than 25 years managing card programs, I have seen quite a few missteps when it comes to card safety and security. Here are a few straightforward ways account holders can keep their accounts safe and secure in the new year.
1. Stay on top of your mail
This is the time of year when benefit payment cards arrive in the mail. With busy schedules, holiday travel, and end-of-year commitments, who has time to check the mailbox? Some people only collect the mail once a week or even once a month. That creates an easy opening for lost cards, mail fraud, or just plain accidental disposal.
A few habits go a long way:
- Pick up your mail regularly and open every envelope – even if they look like junk
- Avoid tossing stacks of mail without reviewing them
- Shred anything with personal information or financial details before throwing in the trash
If you want extra security, sign up for USPS Informed Delivery. It provides a digital preview of your incoming mail so you know when something important, like your benefits card, are on the way.
2. Monitor your accounts and spend your money
Keeping your physical card secure matters, but staying on top of your account activity is just as important. Log in regularly, review recent transactions, and stay familiar with your balance. If your plan offers alerts or notifications, enable them so you’re always aware of activity tied to your card.
This is especially important near the end of the plan year. Many FSAs, DCFSAs, and HRAs operate on a "use-it-or-lose-it" model, meaning unused funds may be forfeited. Some plans roll over, so make sure you understand how your specific plan works.
If your plan is about to expire, do a quick balance check, understand what you have available, and make a plan to use the funds.
There are so many everyday health and wellness items that now qualify for reimbursement, like feminine care products, cold and flu medications, eye care items, and even reading glasses. If you’re getting away this winter, you can even stock up on sunscreen. Several online stores even have special HSA/FSA departments that make it easy to identify and shop for eligible items. Some of my favorites are Amazon, CVS, Target, Walgreens, and Walmart.
3. Look for added protection in your benefits technology
If you offer HSAs or FSAs, either as a benefits administrator, provider or an employer, it’s important to choose a technology platform that goes beyond the basics on security. Features like chipped cards and ongoing investment in card security monitoring help reduce fraud and protect both funds and consumer trust.
And if you’re an employee with access to a more advanced program like this, you can use your card with added confidence, knowing that extra safeguards are working on you behalf behind the scenes.
How Elevate protects you
While personal vigilance matters, you’re not on your own. Elevate adds another layer of security behind the scenes. Our platform uses AI to monitor every card transaction for fraud indicators, every minute of the day. It goes beyond basic checks by evaluating transactions and supporting documents against hundreds of data points that signal authenticity. When something doesn’t look right, the system alerts our experts so they can act quickly, combining automated accuracy with human review to stop fraud as early as possible.
Elevate also issues chipped cards, which is still uncommon in the consumer directed health industry. EMV chip technology prevents card data from being copied or reused by generating a unique encrypted code for each transaction, making counterfeit fraud far more difficult.
Smart habits teamed up with strong protection create a better experience for everyone as the new plan year begins. Stay aware, use your benefits with confidence, and set yourself up for a great start to the new year.
About the Author
Crista Geitzenauer is a SIGIS Board Member and Senior Director of Card Operations at Elevate, where she leads card strategy and financial operations. She brings more than 25 years of experience across HealthEquity, WageWorks, and Bank of America, with deep expertise in commercial card programs, product development, and large-scale card fulfillment.
Connect with Crista and follow Elevate on LinkedIn for more practical guidance on benefits technology and card security.
