Health Savings Account (HSA)
A Health Savings Account (HSA) is a personal savings account you can use to pay for qualified out-of-pocket medical expenses with pretax dollars, now and in the future. Once you’re enrolled in the HSA, you’ll receive a debit card to help manage your HSA reimbursements. Your HSA can also be used for your expenses and those of your spouse and tax dependents up to age 26, even if they are not covered by the HDHP medical plan.
Your HSA is always yours — no matter what.
One of the best features of an HSA is that any money left in your HSA account at the end of the year rolls over so you can use it next year or sometime in the future. And if you leave the Company or retire, your HSA goes with you so you can continue to pay for or save for future eligible healthcare expenses.
Eligibility
You must be enrolled in the High Deductible Health Plan.
Contributions
[The Company] contributes: $500 (Employee Only) | $1,000 (Family)
You contribute on a pretax basis and can change how much you contribute from each paycheck up to the annual IRS maximum of $4,300 if you enroll only yourself or $8,550 if you enroll in family coverage. You can make an additional $1,000 catch-up contribution if you are age 55 or older.
Benefit Highlights
In-Network
Exams
$XX
Single Vision Lenses
$XX
Bifocal Lenses
$XX
Trifocal Lenses
$XX
Frames
$XX
Contacts (in lieu of glasses)
$XX
Frequency
Exams
Once every 12 months
Lenses
Once every 12 months
Frames
Once every 24 months
Contacts
Once every 12 months
Out-of-Network Reimbursement
Exams
$XX
Single Vision Lenses
$XX
Bifocal Lenses
$XX
Trifocal Lenses
$XX
Frames
$XX
Contacts (in lieu of glasses)
$XX
Frequency
Exams
Once every 12 months
Lenses
Once every 12 months
Frames
Once every 24 months
Contacts
Once every 12 months