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Health Savings Account (HSA)
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A Health Savings Account (HSA) works in combination with
a high deductible health plan, allowing you to contribute
funds on a pre-tax or tax-deductible basis, which you may
use to pay for eligible medical expenses. HSAs are also an
important financial benefit, and can help strengthen your
866.346.5800 | healthequity.com financial security.

What expenses are eligible? What are the advantages?

An eligible medical expense is an expense that • An HSA provides you triple tax savings. Tax deductions when
pays for healthcare services, equipment or you contribute to your account; tax-free earnings through
medications as described in IRS Publication investment; and tax-free withdrawals for qualified medical
502.* In general, your HSA can be used for: expenses.
• Expenses applied to your health plan deductible
• You own your account. Even if your HSA-compatible
• Dental care services coverage ends, you can still use your HSA funds tax-free for
• Vision care services eligible medical expenses.

• Prescription drugs and medicines • Funds roll over annually. There is no “use it or lose it”
• Certain medical expenses philosophy. If you don’t use your HSA funds, save them for
next year!
*A list of Qualified Medical Expenses can be found in IRS Publication 502 at
https://www.irs.gov/pub/irs-pdf/p502.pdf
• There are long-term investment opportunities. You can invest
Am I eligible for a Health Savings your HSA dollars through HealthEquity’s investment partners
who offer stocks, bonds and mutual funds. Learn more at
Account? healthequity.com.

To be eligible and qualify for an HSA, you
must meet the following requirements:
• You are enrolled in a HDHP.
What are the account limits?
• You are not covered by another health plan.
• You are not enrolled in Medicare. 2022 HSA Account Limits
• You do not receive health benefits under • Individual - $3,650
TRICARE. • Family - $7,300
• Catch-up (55 or older) - $1,000
• You have not received Veterans Administration
(VA) benefits within the past three months.
• You cannot be claimed as a dependent on
another person’s tax return.
• You are not covered by a general purpose
healthcare Flexible Spending Account (FSA) or
• Health Reimbursement Account (HRA).

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