The Health Savings Account (HSA) is a feature of the Green Plan. (You are not eligible for an HSA if you elect the Blue Plan or Gold Plan.)
Under the law, an eligible individual:
To review these eligibility details, visit IRS Publication 969.
Note: To be eligible to contribute to an HSA, you must not be enrolled in a Health Care FSA or have a balance in any open Health Care FSA plan year or grace period. If you have any balance in your Health Care FSA on July 1, 2023, you're not eligible to contribute to the HSA until the first of the month following the grace period, or Oct. 1, 2023.
Here’s how the HSA works:
Coverage Level | Annual Contribution Limit | Employer Contribution* | Potential Wellbeing Dollars (if earned) | Maximum Employee Contribution (if all wellbeing dollars earned) | |
---|---|---|---|---|---|
Individual | $3,850 | $500 | $400 | $2,950 | |
Employee + Child(ren) | $7,750 | $750 | $400 | $6,600 | |
Employee + Spouse | $7,750 | $750 | $800 | $6,200 | |
Family | $7,750 | $1,000 | $800 | $5,950 | |
Age 55+ | $1,000 |
*The Children’s Mercy employer contribution will be funded over 24 pay periods. Employees and eligible spouses can receive up to $400 each in additional HSA contributions for completing wellbeing activities.
HealthEquity, the HSA administrator, has tools to help you learn more about the HSA.