Health Savings Account (HSA)
If you enroll in the High Deductible Health Plan (HDHP), you may be eligible to open a Health Savings Account (HSA) to help pay for eligible health care expenses not covered under your medical, dental or vision plan. An HSA makes it easier to pay for current health care costs and save for future health care needs now or into retirement.
Eligibility
There are specific requirements to open and contribute to an HSA. It’s important to identify your HSA eligibility status during your enrollment.
You may qualify if:
- You are enrolled in a qualified HDHP/CDHP and have no other disqualifying health coverage.
- You or your covered spouse do not participate in a Health Care Flexible Spending Account. (You are eligible to participate in the Limited Purpose FSA.)
- You are not enrolled in Medicare.
Eligible Expenses
Common eligible expenses may include:
- Medical deductibles and coinsurance
- Eligible prescriptions and over-the-counter medications
- Vision care, including LASIK laser eye surgery
- Dental care, including orthodontia
Review the IRS Publication 969 for more details on eligible expenses at https://www.irs.gov/publications/p969
Contributions
The IRS does limit how much you can contribute to your HSA on an annual basis.
Using HSA Funds
When you enroll in an HSA, you will receive an HSA debit card to pay for eligible expenses. Please reach out to Human Resources for questions on submitting claims.
