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title=”Health Savings Accounts” content_max_width=”75%” content_max_width_tablet=”99%” content_max_width_phone=”100%” content_max_width_last_edited=”on|phone” module_class=”proximaCond_header” _builder_version=”4.22.0″ _module_preset=”default” title_font=”||||||||” title_text_color=”#ffffff” title_font_size=”43px” title_line_height=”1.15em” content_font=”||||||||” content_text_color=”#FFFFFF” content_font_size=”23px” content_line_height=”1.4em” background_color=”rgba(0,154,222,0.8)” background_image=”https:\/\/myaifirebenefits.com\/wp-content\/uploads\/2023\/08\/grey-transparent-flameArt-55.png” background_size=”custom” background_image_width=”215px” background_position=”top_left” background_horizontal_offset=”1%” background_vertical_offset=”45%” background_blend=”soft-light” background_pattern_horizontal_offset=”1%” background_pattern_vertical_offset=”-20%” background_pattern_repeat=”repeat-y” background_enable_mask_style=”on” background_mask_style=”corner-pill” 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Two of the four medical plans available to you include a Health Savings Account (HSA).<\/p>\n
[\/et_pb_fullwidth_header][\/et_pb_section][et_pb_section fb_built=”1″ use_custom_gutter=”on” gutter_width=”2″ specialty=”on” custom_padding_last_edited=”on|tablet” padding_top_1=”0px” padding_top_2=”0px” padding_right_1=”30px” module_class_1=”basic_column_no_sideborder” custom_css_main_1=”border-right: 2px dotted #d9d9d9;” _builder_version=”4.22.0″ background_color=”rgba(255,255,255,0.6)” custom_margin=”-8.5vw||||false|false” custom_margin_tablet=”-7vw||||false|false” custom_margin_phone=”-7vw||||false|false” custom_margin_last_edited=”on|phone” custom_padding=”3.5em||5em||false|false” custom_padding_tablet=”3.5em||3em||false|false” custom_padding_phone=”2.5em||||false|false” background_last_edited=”on|desktop” border_width_top=”1px” border_color_top=”#FFFFFF” global_colors_info=”{}”][et_pb_column type=”2_3″ specialty_columns=”2″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_row_inner _builder_version=”4.16″ custom_margin=”||0px|” custom_padding=”0px||0px|” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”2_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.22.0″ _module_preset=”a534a40c-b714-4c14-b2b6-89f1c0d54367″ global_colors_info=”{}”]<\/p>\n
Both offer you <\/span> several advantages of having an HSA, but only the PPO HSA Plan also <\/span>includes a contribution from the company: $500 when you enroll in single coverage or $1,000 when you enroll in family coverage.<\/p>\n [\/et_pb_text][et_pb_toggle title=”Advantages of Enrolling in HSA-Eligible Plans” admin_label=”Toggle — Key features of the HSA” module_class=”rev_toggles” _builder_version=”4.22.0″ _module_preset=”a82b3e65-ec4b-4d2a-ba15-dd9bdc60cdaf” global_colors_info=”{}”]<\/p>\n [\/et_pb_toggle][et_pb_toggle title=”How an HSA Works” admin_label=”Toggle — Key features of the HSA” module_class=”rev_toggles” _builder_version=”4.22.0″ _module_preset=”a82b3e65-ec4b-4d2a-ba15-dd9bdc60cdaf” global_colors_info=”{}”]<\/p>\n [\/et_pb_toggle][et_pb_toggle title=”PPO HSA Plan and the Company Contribution” admin_label=”Toggle — What’s an HSA?” module_class=”rev_toggles” _builder_version=”4.22.0″ _module_preset=”a82b3e65-ec4b-4d2a-ba15-dd9bdc60cdaf” global_colors_info=”{}”]<\/p>\n [\/et_pb_toggle][et_pb_toggle title=”Important Things to Know” admin_label=”Toggle — Key features of the HSA” module_class=”rev_toggles” _builder_version=”4.22.0″ _module_preset=”a82b3e65-ec4b-4d2a-ba15-dd9bdc60cdaf” custom_margin=”||2em||false|false” global_colors_info=”{}”]<\/p>\n If you are currently enrolled in a Health Care Flexible Spending Account (FSA) and want to enroll in an HSA plan for 2027 (either the PPO HSA Plan or the EPO HSA Plan), you need to either:<\/p>\n If you enter the FSA carryover period with a balance and have not declined participation in the FSA carryover option for 2027, you cannot enroll in an HSA-eligible plan until the carryover period ends. You are not allowed to roll Health Care FSA funds into an HSA.<\/p>\n There are also a few important limitations to HSAs. Federal regulations include the following requirements:<\/p>\n [\/et_pb_toggle][et_pb_text _builder_version=”4.22.0″ _module_preset=”e61f1db8-e139-4c8b-b3a2-2216959fafd2″ custom_margin=”||9px||false|false” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text disabled_on=”off|off|off” _builder_version=”4.22.0″ _module_preset=”default” custom_padding=”|||26px|false|false” locked=”off” global_colors_info=”{}”]<\/p>\n If I enroll in the PPO HSA plan this fall, but then have a qualifying life event during the year and change plans, do I have to return the company\u2019s HSA contribution?<\/p>\n<\/div>\n No. The money in your HSA, even contributions made by the company, is yours until you spend it. You keep it, even if you change jobs, health plans or retire.<\/p>\n<\/div>\n Can I invest money that\u2019s in my HSA?<\/p>\n<\/div>\n Yes, you may qualify to invest a portion of your HSA in mutual funds. It\u2019s a great way to potentially grow savings for future medical expenses and enjoy extra savings for retirement.<\/p>\n<\/div>\n What if I already have an HSA from a previous employer? Can I merge the accounts?<\/p>\n<\/div>\n You can roll over the money from your previous employer\u2019s HSA into our HSA. If you decide to no longer be enrolled in one of our HSA-eligible plans, you are no longer eligible to make contributions to your HSA, but you may still make withdrawals for qualified medical expenses.<\/p>\n<\/div>\n [\/et_pb_text][et_pb_text _builder_version=”4.22.0″ _module_preset=”e61f1db8-e139-4c8b-b3a2-2216959fafd2″ global_colors_info=”{}”]<\/p>\n Before enrolling in an HSA-eligible plan, you can learn more by reading IRS Publication 969<\/a> (\u201cHealth Savings Accounts and Other Tax-Favored Health Plans\u201d). As an individual taxpayer, it is your responsibility to make sure you are eligible to contribute to an HSA and maintain records of HSA reimbursements.<\/p>\n Learn more about HSAs through Optum Bank<\/a>.<\/p>\n [\/et_pb_text][et_pb_code admin_label=”page-specific CSS” _builder_version=”4.22.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n\n
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\n \n<\/th>\n PPO HSA Plan<\/th>\n EPO HSA Plan<\/th>\n<\/tr>\n<\/thead>\n \n Company contribution<\/td>\n $500 individual
$1,000 family<\/td>\nN\/A<\/td>\n<\/tr>\n \n Maximum employee contribution for 2026<\/td>\n $3,900 individual
$7,750 family<\/td>\n$4,400 individual
$8,750 family<\/td>\n<\/tr>\n\n All other benefits of enrolling in an HSA-eligible plan, including the ability to contribute an annual catch-up contribution of $1,000 annually from age 55 to 65.<\/td>\n Same for both medical plans<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n
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Some frequently asked questions about HSAs:<\/h3>\n
To Learn More:<\/h3>\n