Human Resource Services

Health Savings Account

Current HSA Announcements

 

Now Offered! Contribute to your HSA through Payroll Deduction!

WSU is now offering employees the option to contribute pre-tax dollars to their HSA through payroll deduction. Employees enrolled in a CDHP/HSA are able to start, stop, or change their HSA deductions at anytime. Please see the "HSA Forms" link to the right for the required form to set up this deduction.


 

Information on the Health Savings Account

Continue below for valuable information on IRS compliance
with dual enrollment in FSA's and CDHP/HSA's

HSA Basics
 

A Health Savings Account (HSA) allows you to save money in a tax-free savings account for qualified medical expenses. These HSA accounts are administered by HealthEquity and work along with the consumer-directed health plans (CDHPs).  Funds in an HSA roll over from year to year.

HSA Enrollment
 

When you choose to enroll in a Consumer Directed Health Plan (CDHP), you are automatically enrolled in a tax-free health savings account (HSA). There is no enrollment form to be completed to open this HSA.

Both myself and my spouse/registered domestic partner are enrolled in an HSA - Please see "HSA Contributions" below for details on your families options when both you and your spouse/partner are enrolled in an HSA.

HSA Contributions
 
Employer Contributions

The employer makes contributions to your HSA once a month at the end of each month. You will not see the employer contribution on your paystub.  What you will see is the monthly employer contribution to your benefits package on the 2nd paycheck of each month, which currently equates to $782.  This $782 amount reflects the employer's contribution to your medical, dental, basic life and basic LTD insurance premiums, as well as the employer contribution to your HSA.  By the end of a calendar year basis a total of $700 per individual, or $1400 per family will be deposited by the employer into your account. You can monitor contributions to your account by visiting the HealthEquity member portal at https://healthequity.com/HE.aspx.

 

Employee Contributions

Employees are also able to make contributions to their HSA accounts by contributing through payroll deduction* or by sending money directly to HealthEquity.  In 2014, an employee can contribute a maximum of $3,300 to their account or could contribute a maximum amount of $6,550  if they enroll another family member on the plan. These contribution maximums include employee, employer and spouse/partner contributions if the employee's spouse/partner is also enrolled in a CDHP/HSA.

*Please see the "HSA Forms" link in the right hand column for the necessary form to set up payroll deduction to your HSA account.

 

Both myself and my spouse/registered domestic partner are enrolled in an HSA 

If both you and your spouse/qualified tax-dependent registered domestic partner are enrolled in an HSA, you have each enrolled into separate accounts. While each member has a separate account, the amount each member can contribute depends on the type of coverage each person has.

A. If both you and your spouse/qualified tax-dependent registered domestic partner have individual CDHP coverage, each employee can contribute up to $3,300 each. Both accounts can be used by each spouse.

  • Example – John uses all $3,300 of his accounts contributions, and still has additional eligible medical expenses. Jane has $1,000 of unused funds in her account and due to John being an eligible spouse, Jane can claim John’s remaining eligible expenses toward her remaining $1,000. 

 

B. If both you and/or your spouse/qualified tax-dependent registered domestic partner have family CDHP coverage, the family can decide how they would like to split the $6,550 family maximum contribution for 2014. Both accounts can be used by each spouse.

  • Example – John decides to contribute $5,000 to his HSA for 2014, which leaves Jane able to contribute up to $1,550 in 2014 to her HSA. John uses all $5,000 of his contributions, and still has additional eligible medical expenses. Jane still has $1,000 of unused funds in her account and due to John being an eligible spouse, Jane can claim John’s remaining eligible expenses toward her remaining $1,000. 
Changing From an FSA to an HSA
 

If you had an FSA in 2013 and enrolled in a CDHP/HSA for 2014, there is no grace period to use your 2013 FSA funds.  Employees who change from an FSA to an HSA have until December 31 of the prior year to utilize their FSA funds. 

 

 

REQUIRED READING!

Dual Enrollment in FSA's and Consumer Directed Health Plans

(CDHP)/Health Savings Accounts (HSA)

 

 

 

 
Disclaimer: The information contained on this website is for informational purposes only and does not constitute legal advice, nor does it substitute for official plan documents. All information on this website is relayed to the best of the agency's ability, but does not guarantee accuracy. Please seek HSA guidance from Health Equity or your tax advisor.
For more information regarding HSAs, view the links below:
HSA Forms
 
HSA Guidebook, 6th Ed. - New!
 
Qualified Medical Expenses

 

HSA Frequently Asked Questions

 

Medical Plan Type and Tax-Free Savings Account Comparison Charts

 

HealthEquity Contact Information:

http://www.healthequity.net/pebb

HealthEquity Customer Service Phone:
(877) 873-8823

Benefits News

2/25/2011

Find archived benefits information here.

Human Resource Services, PO Box 641014, Pullman WA 99164-1014, 509-335-4521, Contact Us