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Benefits

Health Savings Account

What is a Health Savings Account?

An HSA is a tax-favored Medical spending and savings account that is offered in conjunction with an HDHP to help pay for qualified medical expenses for you and your dependents AND/OR to save for retirement.

HSA Account Advantages:

Eligibility

Note: The HSA is NOT first dollar coverage

Unlike the FSA, funds are only available as they are contributed and NOT all at once at the beginning of the plan year.  However, employees may contribute directly to their HSA outside of payroll deductions and use the contribution as a tax write-off.

                 
2018 Maximum Annual HSA Contributions
Individual $3,450
Family $6,900
Individual (Age 55+) $4,450
Family (Age 55+) $7,900