The HSA Component

When you enroll in the HDHP, you have the opportunity to open an HSA; beginning in calendar year 2017, the HSA will be automatically opened for you. The HSA is essentially a bank account with Optum Bank that allows you to save and pay for eligible health care expenses. The HSA is a great way to build up dollars to pay for your health care expenses today — or in the future.

Understanding the HSA option

HSAs function very similarly to a bank account but are dedicated to health care expenses. If you do not use all of the money, your account rolls over from year to year. You choose to "spend" or "save" these dollars to pay for your eligible medical, dental, prescription, or vision expenses. Similar to a 403(b), you can contribute to your HSA on a pre-tax basis up to IRS limits.

In 2017, you may contribute up to $3,400 ($3,350 in 2016) for individual coverage, or $4,400 ($4,350 in 2016) if age 55 or older; and $6,750 (same as 2016) for family coverage, or $7,750 (same as 2016) if age 55 or older, into the HSA.


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You decide how to use your HSA funds. Click for more: