Health Savings Accounts
If you elect the HSA-compatible high deductible medical plan, you may choose to open a Health Savings Account. When you successfully complete the Health Savings Account application process, you will receive your account number, debit card, and information. Any money you pay into your Health Savings Account is tax deductible, up to the legal limit. Your savings grow tax free, and any money you take out to pay for qualified medical expenses is income-tax free.
HSA’s are fully vested and portable. The money in your HSA is always yours – there are no “use it or lose it” rules, and unspent balances remain in your account until you are able to use them. In addition, you can elect to have funds deposited through convenient payroll deductions. For further information, please refer to the HSA information below or contact HR Services.
Optum Financial: 844.881.4439
2024 IRS HSA Contribution Limits*:
Individual $4,150; Family $8,300
Catch-up Additional Contribution Limit $1,000 (ages 55+)
*The above limits include both employer and employee contributions.