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This is the seventh of ten messages Outreach and Training will send related to the SEBB Program’s annual open enrollment. Here is the breakdown of what you can expect to receive over the next month, the emails are numbered so you can keep track.
We ask that you share these messages with employees according to the recommended schedule. Please do not forward this email. Instead, copy and paste the message included below into your regular means of communication to distribute to employees.
Thank you in advance for your time and effort to share these messages. If you have comments or suggestions, contact us through HCA Support.
Recommendation: Share the message on November 11, 2022.
High-deductible health plan (HDHP) with a health savings account (HSA)
An HDHP is a high-deductible health plan with a health savings account (HSA). HDHPs offer lower monthly premiums, a higher annual deductible, and a higher annual out-of-pocket limit than most medical health plans. Uniform Medical offers an HDHP.
The HSA is a tax-exempt account anyone can deposit funds on your behalf. You can use your HSA to pay for IRS-qualified out-of-pocket expenses (like deductibles, copays, and coinsurance), including some expenses and services that your health plan may not cover.
Eligibility
You must meet certain eligibility requirements to enroll in an HDHP/HSA. If you are not eligible for the HSA and enroll, you may be liable for tax penalties.
You are not eligible to enroll in a HDHP with an HSA if you are enrolled in:
- Medicare Part A or Part B
- Medicaid
- Another comprehensive medical plan
- VEBA, unless you convert it to limited-purpose HRA coverage
- TRICARE
- Medical flexible spending arrangement (FSA or Health Reimbursement Arrangement (HRA) Note: You may enroll in a Limited Purpose FSA.
Other exclusions apply. Check the IRS Publication 969 – Health Savings Accounts and Other Tax-Favored Health Plans at irs.gov, contact your tax advisor or call Health Equity (the Health Administrator) toll-free at 1-844-351-6853 to verify whether you qualify. See the Complete HSA Guidebook for full details.
Contributions
When you enroll in an HDHP with an HSA, your district will contribute $375 per year ($31.25 per month) for enrollment as a single subscriber or $750 per year ($62.50 per month) for enrollment for you and at least one other family member.
The maximum HSA contribution for a single subscriber for 2023 is $3,850 and $7,750 for a family. Employees ages 55 and up can contribute up to $1,000 more per year.
Learn more on the SEBB Program’s Health Savings Accounts (HSAs) webpage.
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