Health Savings Account

  • The Health Savings Account (HSA) is a savings account where you can direct pre-tax contributions to be used to pay for qualified medical, dental, or vision expenses. This account may be used for yourself, your spouse and your dependents. Once the money goes into the account, it's yours to keep. Unused funds roll over year to year even if you leave the district. If your qualified expenses are more than your HSA balance, you need to pay the remaining cost another way, save your receipt and request reimbursement later after you have accumulated more money in the account.

    The district will contribute $140 per month into the HSA if you select the $2800 Spira Care or $2800 Blue Select Plus medical plans. You can also contribute pre-tax money from your check into the HSA. You are not allowed to open an HSA if you or your spouse has a balance in a Flexible Spending Account or be on Medicare, Medicaid, or Tricare.

     

    IMPORTANT:  If you change your address with the district, YOU will need to contact UMB with the updated address. The rest of the insurance providers receive the address change from us.

IRS Contribution Limits

  • Contributions are based on a calendar year and there is a limit to how much you can contribute. The district's $140 monthly contribution also counts towards the annual HSA contribution limits. The IRS can penalize you for excess contributions.

     

    Under Age 55

    • Individual - $3,650
    • Family - $7,300

     

    Age 55 and Older ($1,000 catch-up contribution)

    • Individual - $4,650
    • Family - $8,300

Health Savings Account Brochures