Once enrolled, you will automatically be set up with a health savings account (HSA) to receive employer contributions included in the monthly premium. More details will be sent regarding your account set up at the time your enrollment has been processed. If you wish to contribute additional funds to your HSA, please work with your employer to include this amount on the Employer Certification Form.
The following are ineligible to participate in an HSA::
- Those enrolled in Medicare, Tricare, or a Veteran's plan
- Those enrolled in additional coverage that is not a High Deductible Health Plan (HDHP)
- Those who can be claimed as a dependent on another person's taxes
For 2020, the IRS allows an individual to contribute up to $3,550 and a family may contribute up to $7,100. These limits include the combined total of employer and employee contributions. Employees who are age 55 or older are allowed to contribute an additional $1,000 in catch-up contributions. Any remaining balance in the employee’s HSA will rollover and accumulate year to year.