Health Savings Account & Flexible Spending Accounts

Health Savings Account (HSA)

Administered by HealthEquity. Available with the HSA $1,750 and HSA $5,000 plans only.

• A health savings account (HSA) is a tax-advantaged savings account that can be used for qualified healthcare expenses. You own your HSA and can contribute to the account with pre-tax payroll deductions.
• You are enrolled in either the HSA $1,750 or the HSA $5,000 plan
• You are not covered by a spouse’s plan
• No one else can claim you as a dependent
• You are not enrolled in any part of Medicare, TRICARE, or TRICARE for Life
• You have not received VA benefits in the past 3 months
• The money you contribute is pre-tax. Interest accumulates in the account tax-free. Money withdrawn from an HSA isn’t taxed, provided you use it for qualified healthcare expenses.
• Unspent dollars roll over each year and are yours to keep, even if you retire or leave the company.
• You can use the account to pay for qualified healthcare expenses either through reimbursement or using the debit card at point of purchase.
• First time electing a CDHP with HSA? You may need to complete the CIP process, an identity verification process that must be completed before your HSA account can be established. You will receive communications directly from HealthEquity if more documentation is needed.
• https://my.healthequity.com
• 866.346.5800

HSA Contribution Limits

Employer Contribution