Health Savings Account (HSA)
Health Savings Account (HSA) – If you enroll High Deductible Health Plan (HDHP), you also have the opportunity to contribute tax free money from to a Health Savings Account (HSA) with Optum. Use your pre-tax dollars to pay for qualified health care expenses for you and your eligible dependents.
You are eligible to contribute to an HSA if you are:
- Enrolled in the HDHP and are not covered by another health plan that is not a HDHP.
- Not covered under an FSA through your spouse’s employment (if applicable).
- Not currently enrolled in Medicare or TRICARE.
- Have not received medical benefits through the Department of Veterans Affairs (VA) during the past three months.
Key HSA features
- Inframark makes an annual contribution to your HSA account – $500 for employee only coverage, and $1,000 for employee + dependent(s) coverage.
- There is no use it or lose it rule. You can carry over unused funds from year to year and the account is yours to keep even if you change jobs, change health plans or retire.
- The money goes in tax-free, grows income tax-free and comes out income tax-free when you use it for qualified healthcare expenses.
- To shop for HSA eligible items, visit www.optum.com
- Manage your HSA in the same place as your 401(k) retirement savings at www. empowermyretirement.com.
Click here to learn more.
Looking for your HSA tax documents? Click here for instructions on how to locate them.