Health Savings Account (HSA)

A Health Savings Account (HSA) is a personal savings account you can use to pay for qualified out-of-pocket medical expenses with pretax dollars, now or in the future. Once you’re enrolled in the HSA, you’ll receive a debit card to help manage your HSA reimbursements. Your HSA can also be used for your expenses and those of your spouse and dependents, even if they are not covered by the HDHP medical plan.

Your HSA is always yours — no matter what.

One of the best features of an HSA is that any money left in your HSA account at the end of the year rolls over so you can use it next year or sometime in the future. And if you leave the Company or retire, your HSA goes with you so you can continue to pay for or save for future eligible health care expenses.

How the HSA Works

Eligibility

You must be enrolled in the High Deductible Health Plan.

Contributions

The Company contributes: $500 (Employee Only) | $1,000 (Family)

You contribute on a pretax basis and can change how much you contribute from each paycheck up to the IRS maximum of $4,150 if you enroll only yourself or $8,300 if you enroll in family coverage. You can make an additional catch-up contribution if you are age 55 or older.

Eligible Expenses

You may use your HSA funds to cover medical, dental, vision and prescription drug expenses incurred by you and your eligible family members.

Using Your Account

Use the debit card linked to your HSA to cover eligible expenses or pay for expenses out of your own pocket and save your HSA money for future health care expenses.