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Health Savings Account- HSA

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We offer a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) through Health Equity.

Take charge of your health care spending with a Health Savings Account and the HDHP medical plan. You can contribute as much you choose, up to the IRS maximum limits each year.

Maximize Your Savings

The money you deposit into an HSA can be used for current or future medical, dental, or vision expenses and can roll over year-to-year. This allows your savings to grow. The money can be used to pay for your healthcare needs and will always be yours even if you leave the company.

  • Contributions to an HSA are tax-free  and can be made through payroll deductions on a pre-tax basis when you open an account with Health Equity.

  • The money in this account, including interest and   investment earnings, grows tax-free.

  • As long as the HSA money is used to pay for qualified healthcare expenses, there is no tax payment required. 

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HSA Funding Limits

The 2025 maximum amounts allowed according to the IRS, including employer contributions, are:

  • Individual - $4,300

  • Family - $8,550

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NOTE: These limits include any employer contributions.  The Company will contribute $500 for an Individual Employee and $1,000 for a Family into your HSA. Family includes Employee plus Spouse or Employee plus Child(ren). 25% of the Company contribution will be made on the first payroll deposit in January 2025 and the remaining 75% will be made in equal payments over the remaining periods in 2025.

 

Individuals age 55 or older may be eligible to make a catch-up contribution of $1,000 in 2025.

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