Page 10 - 2022-23 Drug Plastics Benefit Guide

Fidelity Health Savings Account

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

START IT BUILD IT USE IT GROW IT

΅ Contributions to the HSA ΅ All of the money in your ΅ You can withdraw your ΅ Unused money in your
are tax-free for you whether HSA is yours (including any money tax-free at any HSA will roll over, earn
they come from you or the contributions deposited time, as long as you use interest and grow tax-free
company. The company by the company) even if it for qualified expenses over time.
contributes $1,000 for you leave your job, change (a list can be found on ΅ You decide how to use
individual coverage and plans or retire. www.irs.gov). the HSA money, including
$2,000 for family coverage. ΅ In 2022, the total of your ΅ You can also save this whether to save it or spend
΅ Plans with an HSA typically contributions and the money and hold onto it it for eligible expenses.
cost less than other plans company’s can be up for future eligible health When your balance is large
(individual coverage is to $3,650 for individual care expenses. enough, you can invest it
$0 cost this year) so coverage and $7,300 for — tax-free.
the money you save on family coverage. The Drugs
premiums can be put into Plastics contribution counts
your HSA. You save money towards this maximum.
on taxes and have more
flexibility and control over
your health care dollars.

Eligibility Details
΅ If you are age 55 or older, you can contribute an additional $1,000 per year.
΅ 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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