HELP MANAGE YOUR HEALTHCARE COSTS WITH AN HSA

We are pleased to offer you the option of funding a health savings account (HSA) through payroll deduction.  HSAs may be used in conjunction with any high-deductible health plans (HDHP) to help you manage health-care costs, including deductibles.

The IRS allows you to fund an HSA with pre-tax dollars to pay for almost all medical expenses, including medications, dental, vision and more. Your HSA is owned by you, managed separately from the insurance, portable between employers, and rolls over annually (you don’t lose it). Keep in mind there are also tax Tax Advantages of an HSA in having an HSA.

What is the health savings account concept?

  • It's Tax Free!  Set aside funds tax-free to pay for health care expenses.
  • It's Familiar!  The account functions just like a checking account, with accruing interest!
  • Payments?  Payments for most health related expenses may be made by an HSA debit card.
  • Rollovers?  Funds accumulate over time, rolling over from year to year.
  • It's Personal!  Funds are fully vested, belonging only to you.

Available to ALL employees with a high-deductible health plan!
Even if you don’t elect Outstaffing Medical Insurance, you may still fund an HSA if you have eligible coverage elsewhere.


YOUR HSA TOOLS

Opening and Funding an HSA

After you have confirmed you are covered by an eligible (HDHP) plan, you will be able to open an HSA with any financial institution that offers it.  If you already have an HSA, or your family is covered by a spouse's HSA, you may elect to contribute to that existing account.  Once your account is established, you can fund your HSA using pre-tax income through payroll deduction, simply complete the form below.

HSA Account Contribution Limits

An employee age 55+ may make an additional catch-up contribution annually of $1,000.  The spouse of the employee 55+ may also make an annual catch-up contribution of the same amount; however, this must be done with a separate HSA which is solely in the name of the spouse - not the employee.

PRO-RATED CONTRIBUTIONS: Your annual contribution amount must be pro-rated for any partial year of HDHP coverage.