Page 7 - Creative Snacks 2023 Benefit Guide
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Health Savings Account




        A Health Savings Account (HSA) is a savings account that belongs to you that is paired with either
        medical plan. It allows you to make tax-free contributions that you can use to pay for current and
        future medical expenses for you and your dependents.








                 START IT                   BUILD IT                    USE IT                   GROW IT
            ΅ Contributions to an HSA are    ΅ All of the money in your     ΅ You can withdraw your     ΅ Unused money in your HSA
           tax-free for you – whether  HSA is yours (including any   money tax-free at any time,   will roll over, earn interest
           they come from you or the   contributions deposited by   as long as you use it for   and grow tax-free over time.
           company. Creative Snacks   the company) even if you   qualified expenses (a list can     ΅ You decide how to use
           contributes to your HSA on     leave your job, change    be found on www.irs.gov).  the HSA money, including
           a bi-weekly basis as follows:  plans or retire.        ΅ You can also save this   whether to save it or spend
              ΅ Employee Only: $25     ΅ In 2023, the total of your   money and hold onto it    it for eligible expenses when
              ΅ Employee & Spouse/    contributions and the      for future eligible health   your balance is large enough,
             Domestic Partner: $40    company’s can be up        care expenses.             you can invest it – tax-free.
              ΅ Employee & Child(ren): $40  to $3,850 for individual
                                      coverage and $7,750 for
              ΅ Employee & Family: $75  family coverage. If you are
            ΅ The HDHP costs less than  age 55 or older, you can
           other plans so the money you   contribute an additional
           save on premiums can be put   $1,000 per year.
           into your HSA. This helps you
           save money on taxes and
           gives you more flexibility
           and control over your health
           care dollars.




           Eligibility details
              ΅ You are not allowed to be enrolled in any other health coverage, and cannot have an HSA if you are enrolled in
             any other health coverage or Medicare, or claimed as a dependent on someone else’s tax return.
              ΅ You cannot participate in the Health Care Flexible Spending Account (FSA) if you have an HSA. Your spouse also
             cannot have a Health Care FSA.


























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