An HSA provides a convenient way to save for (and pay for) healthcare expenses for you and your eligible dependents. You can use your HSA funds toward a wide range of qualified health expenses, such as:

• Medical deductibles, copays and coinsurance;
• Prescription drug expenses;
• Dental or vision expenses – and more!

• Samuel will make a contribution to your HSA each plan year, half in January and half in July, provided you are enrolled in the HDHP as of January 1 and July 1. The annual contribution is based on your Medical plan tier election: $500 (single), $750 (employee + 1), or $1,000 (family).
• You can save up to $4,150 (single) or $8,300 (family) for the 2024 plan year (minus Samuel contributions). If you are 55 or older, you can contribute an additional $1,000.
• Your paycheck contributions are pre-tax, and distributions for qualified expenses are tax free.
• If you don’t use the full amount of your HSA in a given plan year, then your balance will roll over to the next year. There’s no “use it or lose it” provision; unused funds are never forfeited.
• Your HSA is portable: you can use it to pay qualified claims with any plan or employer, as well as in retirement.
• Once your HSA balance reaches $1,000, you may choose to invest a portion of your HSA dollars. In addition to mutual funds, Optum Bank is excited to announce a new investment option: digitally managed investments with Betterment. You can manage your HSA, see balances, and invest via myuhc.com once you are active with your medical plan.