Page 9 - Goodwill of SWPA 2022 Benefits Guide

Health Savings Account

Any eligible full-time employee who elects the Community Blue Flex PPO HDHP or UPMC MyCare Advantage PPO HDHP is
eligible to establish a Health Savings Account (HSA). 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. Goodwill utilizes the Health Savings Account (HSA) vendor
through Highmark and UPMC.

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 money tax-free at any HSA will roll over, earn
they come from you or the any contributions time, as long as you use interest and grow tax-free
company. If you are signing deposited by the it for qualified expenses over time.
up for the plan for the first company) even if you (a list can be found on ● You decide how to
time, you will receive a leave your job, change www.irs.gov). use the HSA money,
debit card from the bank in plans or retire. ● You can also save this including whether
the mail to use for qualified ● In 2022, the total of your money and hold onto it to save it or spend it for
medical expenses after you contributions and the for future eligible health eligible expenses. When
fund your account. company’s can be up care expenses. your balance is large
● Plans with an HSA typically to $3,650 for individual enough, you can invest it
cost less than other plans coverage and $7,300 for — tax-free.
so the money you save on family coverage.
premiums can be put into
your HSA. You save money
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 traditional
insurance, enrolled in a government program such as Medicare, Medicaid, or Tricare, 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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