![]() Members ages 55 or older, may contribute up to $1,000 more annually in addition to these limits.For 2023, the contribution limit for an HSA is $3,850 (subscriber only) and $7,750 (subscriber and one or more dependents).For 2024, the contribution limit for an HSA is $4,150 (subscriber only) and $8,300 (subscriber and one or more dependents).The IRS has annual limits for contributions from all sources into an HSA. You will get an additional $125 in your HSA (deposited at the end of January in the following calendar year) if you qualify for the SmartHealth wellness incentive. If you have at least one other family member on your CDHP, then you qualify for the family contribution. The Health Care Authority will contribute the following amounts to your HSA: The contribution goes into your HSA in monthly installments over the year on the last day of each month (the entire HSA amount is not available on January 1). What contributions are allowed? Employer contributionsĪfter your HSA is established with HealthEquity, you can start to receive employer contributions. See The Complete HSA Guidebook for full details. Check IRS Publication 969-Health Savings Accounts and Other Tax-Favored Health Plans, contact your tax advisor, or call HealthEquity at 1-87 (for Kaiser members) or 1-84 (for UMP members) to verify whether you qualify. You also cannot be claimed as a dependent on someone else’s tax return.The Limited Purpose FSA is compatible with an HSA. This does not apply if the Medical FSA or HRA is a limited purpose account, or for a post-deductible Medical FSA. This also applies if your spouse has a Medical FSA, even if you are not covering your spouse on your CDHP. A Medical Flexible Spending Arrangement (FSA) or Health Reimbursement Arrangement (HRA).(This includes you or your spouse or state-registered domestic partner.) A Voluntary Employee Beneficiary Association Medical Expense Plan (VEBA MEP), unless you convert it to a limited health reimbursement account (HRA) coverage.Another health plan that is not an IRS-qualified high-deductible health plan - for example, on a spouse’s or state-registered domestic partner’s plan - unless the health plan coverage is limited coverage, such as dental, vision, or disability coverage.To be eligible to enroll in a CDHP, you cannot be enrolled in: If you are not eligible and enroll, you may be liable for tax penalties. You must meet certain eligibility requirements to enroll in a CDHP with an HSA. Those who enroll in a CDHP should prepare to invest time and energy in seeking qualified HSA expenses from network providers. Can keep track of HSA expenses in case of an IRS audit.ĬDHPs can encourage you to make informed decisions about your health care and spend HSA funds wisely.Are willing to check which services and supplies are qualified HSA expenses.Want to save on taxes by contributing to an HSA through pretax payroll deductions.Generally, CDHPs work well for people who: You can enroll in a Limited Purpose Flexible Spending Arrangement (FSA) and the Dependent Care Assistance Program (DCAP).Your medical and prescription drug costs count toward the annual deductible and out-of-pocket maximum.If you cover yourself and one or more dependents, you must pay the entire family medical deductible before the plan begins paying benefits. ![]() Visit benefits and coverage by plan for coverage details. Kaiser Permanente NW, Kaiser Permanente WA, and Uniform Medical Plan (UMP) all offer CDHPs. CDHPs offer lower premiums, a higher medical deductible, and a higher medical out-of-pocket limit than other types of health plans. What is a consumer-directed health plan (CDHP)?Ī CDHP is a high-deductible health plan (HDHP) with a health savings account (HSA). ![]() The money is yours, even if you change health plans, get a new job, or retire.Īfter you’re 65, you can withdraw HSA dollars for any expense – you’ll just need to pay income taxes. Your HSA balance can grow over the years, earn interest, and build savings that you can use to pay for health care as needed. Qualified expenses for your spouse or other tax dependents, even if they aren't covered on your medical, dental, and vision plans.IRS qualified out-of-pocket medical expenses (like deductibles, copays, and coinsurance) including some expenses and services that your health plans may not cover.The PEBB Program also contributes to your HSA each month. When you enroll in a CDHP, you are automatically enrolled in an HSA. Washington State All Payer Claims Database (WA-APCD)Īn HSA is a tax-advantaged account, which means money you contribute is not taxed.Medicaid maternal & child health measures.Foundational Community Supports provider map.Analytics, research & measurement (ARM) data dashboard suite.
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