2027

FSA & HSA

Save tax-advantaged dollars to help pay for qualifying medical, dental, vision, and dependent care expenses.

Health Savings Account

Health Savings Account (HSA)

Administered by HSA Bank. Available with the HDHP only. Enroll via Workday.

  • You are enrolled in an HSA-eligible High Deductible Health Plan.
  • You are not covered by your spouse’s or parent’s non-HDHP.
  • You or your spouse does not have a Healthcare Flexible Spending Account or Health Reimbursement Account.
  • You are not eligible to be claimed as a dependent on someone else’s tax return.
  • You are not enrolled in Medicare or TRICARE.
  • You have not received Department of Veterans Affairs medical benefits in the past 90 days for non-service-related care. (Service-related care will not be taken into consideration.)
  • Funding: Pre-tax paycheck contributions and employer contributions (pre-tax).
  • HSA contributions and withdrawals for qualified healthcare expenses are tax-free.
  • You can save and roll over HSA funds to the next year if you don't spend them all in the calendar year. You can even let funds accumulate year over year to use for eligible expenses in retirement.
  • HSA funds are also portable if you change plans or jobs.
  • There are no vesting requirements (you own all contributed HSA funds immediately) or forfeiture provisions (you keep all HSA funds whether you leave the company or retire).
  • Eligible expenses include: Physician services, Hospital services, Prescriptions, Menstrual products, PPE, Over-the-counter medications, Dental care, Vision care, Medicare Part D plans, COBRA premiums, Long-term care premiums, Doctors’ visits, Eye exams, Laser eye surgery. A full list is available at www.irs.gov.
  • Per IRS regulations, if HSA funds are used for purposes other than qualified medical expenses and you are younger than age 65, you must pay federal income tax on the amount withdrawn, plus a 20% penalty tax.
  • Manage your account: www.hsabank.com or 855-731-5220.
HSA Contribution Limits

Employee

Annual Limit
$4,500

Family

Annual Limit
$9,000

Catch-up Contribution (Ages 55+)

Annual Limit
$1,000
Employer Contribution

Employee

Annual Contribution
$550

Family

Annual Contribution
$1,100