Health Savings Accounts

A Health Savings Account (HSA) is a tax-exempt account established exclusively for paying for reimbursing qualified medical expenses of you, your spouse, and your dependents.

Who is eligible for this account?

  • You must be covered under a high-deductible health plan (HDHP);
  • You cannot be covered by any other health plan including Medicare; and
  • You cannot be claimed as a dependant on another individual’s tax return.

What is an HDHP?

  • An HDHP is a plan with an annual deductible no less than the amounts shown below.

HDHP Minimum Annual Deductible

  • Tax Year 2015
  • Individual - $1,300
  • Family - $2,600

Are there other requirements for the HDHP?

Maximum Annual Out-of-Pocket Limits

  • Tax Year 2015
  • Individual - $6,450
  • Family - $12,900

How much can I contribute to my HSA?

Annual Contribution Limits

  • Tax Year 2013
  • Individual - $3,350
  • Family - $6,650
  • 55+ Catch Up Amount - $1,000

Visit one of our convenient locations for more details.