If you enroll in a High Deductible Health plan during Open Enrollment, you may be eligible to open an HSA account. This HSA account can be used to pay out-of-pocket expenses like your deductible and co-insurance now or for qualified medical expenses in the future.
Employees enrolled in the High Deductible Health plan with an HSA plan receive an annual employer contribution of $500 for individual coverage and $1,000 for family coverage. In addition to the employer contribution, you may also choose to contribute your own additional funds on a pre-tax basis to the account, up to a specified limit. Employees and dependents enrolled in a second health plan, Medicare part A and B or enrolled in a healthcare flexible spending account may not be eligible to participate in an HSA plan and should consult the People First Service Center if they have additional questions.
Enrollment in an HSA account is completed through People First. Once you enroll, Chard Snyder will automatically open an HSA Advantage account for and contact you if additional information is needed. To ensure your account has been established, use your People First ID to log into the Chard Snyder portal from the People First website. Additional information on opening an HSA account and tracking/claiming your reimbursements can be found here.
Questions? Contact University Benefits at (352) 392-2477 or email@example.com.