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HSA - Health Savings Account

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Eligibility / High Deductible Health Plan Minimums 
The HSA can be used for employees under age 65 to pay for certain medical expenses when covered by high deductible health plans. Plans with deductibles of a minimum of $1,000 for individual and $2,000 for family are eligible. Individuals under the age of 65 are eligible to contribute to an HSA if they have a qualified health plan.

Maximum Contributions 
For 2013, the maximum can you can contribute to a Health Savings Account is a $3,250 for individuals with self-only coverage and $6,450 for individuals with family coverage.

Contributions Not Tied to HDHP Deductibles
HSA contributions are no longer limited by the amount of your HDHP deductible. This means that even if you are covered by an HDHP with the minimum deductible (i.e., $1,200 for individuals with self-only coverage or $2,400 for individuals with family coverage), you may still contribute up to the full amount to your HSA (i.e., $3,100 for individuals with self-only coverage or $6,250 for individuals with family coverage in 2012). On the other hand, if you purchase an HDHP with a deductible higher than the annual HSA contribution limit, your 2013 HSA contribution will still be limited to $3,250 for individuals with self-only coverage or $6,450 for individuals with family coverage. .

Rollovers are Permitted
Rollover contributions from your HSA are permitted. Rollovers are not subject to the annual contribution limits. 

Debit Card Technology
We believe that debit cards will continue to play an important role in the adoption of Consumer Directed Healthcare (CDH) products. In addition to the anticipated growth of HSA accounts and corresponding debit cards, we expect further growth of HSA accounts. The shift toward CDH products with higher deductibles requires members to manage greater out-of-pocket expenses resulting in an increased demand for accounts with a debit card component and associated reporting.

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