The Health Savings Account (HSA) applies only to the High Deductible Health Plan (HDHP). The HSA is an important component of the HDHP design as it can be used to offset qualified health care expenses. Similar to an Individual Retirement Account (IRA), the HSA is a special type of savings account; it offers a different way for you to pay for your health care. Here are some key features:
- You own and control the money in your HSA from day 1; it is fully portable after retirement or separation from the County
- The "Use it or Lose it" Rule does not apply
- Decisions on how to spend the money are made by you without interference from a third party or health insurer
- The County funds an annual HSA amount based on tier of coverage enrolled and is prorated according to month effective in plan
| Tier of Coverage
|| Annual Amount |
| Employee only
| Employee + dependents (spouse, child(ren), family)
Contributions to the Health Savings Account
You can contribute to your HSA on a pre-tax basis. The maximum amount you may contribute is $3,300 (employee only) and $6,550 (employee + dependents). Individuals who are aged 55 and older and who are covered by the High Deductible Health plan can make additional "catch-up" contributions each year until they enroll in Medicare. The annual "catch-up" contribution is $1,000.
Medicare-eligible employees and Health Savings Account
IRS rules do not allow Medicare-eligible employees to participate in a Health Savings Account. Medicare-eligible employees who enroll in the High Deductible Health plan will have the equal County-funded amount deposited into their Health Reimbursement Account.
For an up-to-date list of eligible expenses, please download the HSA sample eligible expenses.
Frequently Asked Questions
Humana Inc. has provided a Frequently Asked Questions section on the new High Deductible Health Plan and HSA.
- HSA Beneficiary Designation Form (pdf)
- HSA Payroll Contribution Form (keyboard enterable pdf)
Account Member Services, 800-604-6228