Health Savings Account (HSA)

You will be eligible for a HSA if you are enrolled in an HDHP, not covered by any other health plan that is not a HDHP (including a spouse’s health plan, but does not include specific injury insurance and accident, disability, dental care, vision care, or long-term coverage), not enrolled in Medicare, not a recipient of VA or Indian Health Services (IHS) benefits within the last three months, not covered by your own or your spouse's flexible spending accounts, and not claimed as a dependent on someone else’s tax return. For each month you are eligible for an HSA premium pass-through, we will contribute to your HSA $75 per month for a Self Only enrollment or $150 per month for a Self Plus One or Self and Family enrollment. In addition to our monthly contribution, you can make additional tax-free contributions to your HSA as long as the total contributions do not exceed the limit established by law, which is $4,400 for an individual and $8,750 for a family. You can use the funds in your HSA to help pay your deductible, coinsurance, copayments, and other qualified expenses. You will own your HSA, so the funds can go with you if you change plans or employment. The Health Plan will establish an HSA for you with WEX Inc.—the HDHP’s fiduciary (an administrator, trustee, or custodian as defined by federal tax code and approved by the IRS.)

• Your HSA will be administered by UPMC Benefit Management Services.
• Your contributions to the HSA will be tax deductible.
• Your HSA will earn tax-free interest.
• You can make tax-free withdrawals for qualified medical expenses for yourself, your spouse, and your dependents. (See IRS publication 502 for a complete list of eligible expenses.)
• Your unused HSA funds and interest will accumulate from year to year.
• HSAs are portable. You will own it even if you leave federal employment or retire.
• Funds up to the actual HSA balance will be available when you need them.