No. Hammock works with HSAs, FSAs, or both. If you're on a high-deductible health plan and don't have an HSA yet, we'll open a free one when you sign up.
Sign up for free - it takes about two minutes. We'll start tracking your healthcare spending automatically. When you're ready to make wellness tax-free, upgrade to Premium and we'll generate your Letters of Medical Necessity right away.
A Health Savings Account, or HSA, is a personal tax-advantaged account for qualified medical expenses. You can contribute pre-tax money, use it tax-free for eligible care, and keep the account even if you change jobs or health plans. HSA funds can roll over year to year and may be investable depending on the provider.
A health Flexible Spending Account, or FSA, is an employer-sponsored account that lets you set aside pre-tax paycheck dollars for eligible medical expenses. FSAs are tied to your employer's plan, and unused funds are usually subject to plan rules like a deadline, grace period, or limited carryover.
The biggest differences are ownership, eligibility, and rollover rules. An HSA is yours to keep, requires an HSA-qualified high-deductible health plan, and unused funds roll over. A health FSA is offered through an employer, generally does not require a high-deductible health plan, and unused funds may expire unless your employer offers a grace period or carryover.
To contribute to an HSA, you generally need to be covered by an HSA-qualified high-deductible health plan, have no disqualifying non-HDHP medical coverage, not be enrolled in Medicare, and not be claimed as someone else's tax dependent. Your health plan documents should say whether the plan is HSA-qualified.
Health FSAs are usually available only through an employer benefits plan. If your employer offers one and you meet the plan's eligibility rules, you can generally enroll during open enrollment or after a qualifying life event. Self-employed people typically cannot open a health FSA on their own.
For 2026, the HSA contribution limit is $4,400 for self-only HDHP coverage and $8,750 for family HDHP coverage. If you are age 55 or older, you can generally contribute an additional $1,000 catch-up contribution. These limits include both your contributions and any employer contributions.
For 2026, an HSA-qualified high-deductible health plan must have a deductible of at least $1,700 for self-only coverage or $3,400 for family coverage. The plan's annual out-of-pocket maximum, excluding premiums, cannot exceed $8,500 for self-only coverage or $17,000 for family coverage.
For plan years beginning in 2026, the health FSA employee contribution limit is $3,400. Employers can set a lower limit. If an employer allows health FSA carryovers, the maximum carryover for 2026 is $680.
Sometimes. A general-purpose health FSA can make you ineligible to contribute to an HSA. However, some employers offer HSA-compatible FSAs, such as limited-purpose FSAs for dental and vision expenses. Check your employer's plan details before enrolling in both.
More than you think. With a Letter of Medical Necessity, your HSA or FSA can cover gym memberships, supplements, massage therapy, acupuncture, mental health apps, chiropractic care, and home fitness equipment. Hammock Premium handles the documentation so your wellness spending becomes tax-free.
Hammock works alongside your existing HSA or FSA - Fidelity, Optum, Lively, whoever. No need to switch or transfer. Everything works with the account you already have.
If your bank isn't available through our linked accounts feature, you can still contribute to your HSA by initiating an ACH Push (bank transfer) directly from your other bank. To do this, log into your other bank's website or app and set up a transfer to your HSA using your routing and account number, which you can find on the HSA Account Details page.
Yes. The IRS allows any expense a medical professional determines is medically necessary. Letters of Medical Necessity are the standard documentation - this has been established for decades. Hammock makes the process simpler and more affordable.
It's documentation from a licensed provider stating that a specific expense is medically appropriate for you. It's what makes wellness expenses eligible for your HSA or FSA. Normally you'd need a doctor's appointment - with Hammock Premium, we generate them automatically from a short health profile.
Automatic healthcare expense tracking - Hammock connects to your cards and email to find eligible spending. You can export expenses for reimbursement from your existing HSA or FSA. If you don't have an HSA, we'll open a free one for you. No credit card required.
The free plan tracks and reimburses your eligible spending. Premium makes wellness spending tax-free - you get Letters of Medical Necessity for gym, supplements, massage, and more, plus partner perks like discounted lab testing and fitness programs. The average Premium member saves over $1,000/year.
It depends on your wellness spending and tax bracket. If you spend $300/month on gym, supplements, and recovery, that's $3,600/year. Paying pre-tax saves you 30-40% - roughly $1,000-$1,400 annually. Hammock Premium is $129/year, so it pays for itself within the first month or two.