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Health Savings Account (HSA) Information

BenefitWallet

Benefit Wallet: 1-877-472-4200


The Health Savings Account (HSA) is a tax-advantaged medical savings account available to employees who are enrolled in a High Deductible Health Plan (HDHP), i.e. the County Plan (Subject to IRS guidelines). The County Plan (HDHP) with an HSA is designed to empower you to Take Charge of Your Health.

HSA Decision Guide

Things You Need to Know

    You may make pre-tax contributions via payroll deduction.
    Montgomery County will match your pre-tax HSA contribution made via payroll deduction dollar for dollar, up to a total match of $1,000 per plan year.
    You can contribute your own post-tax dollars up to the annual limit; the County will only match contributions made through payroll deductions.
   Annual contributions are based on a calendar year and are limited to:
     

IRS HSA Limits   2018 Maximum Contribution   2017 Maximum Contribution   Change from 2017
HSA Contribution Limits:
Individual Coverage   $3,450*   $3,400*   +$50
Family Coverage   $6,900*   $6,750*   + $150


* Persons age 55 or older may make additional "catch-up" contributions of up to $1,000 in 2018 (the same amount as in 2017).


    Catch-up contributions of $1,000 can be made by participants age 55 and older.
    bullet Annual contribution maximums include your deposits, County matching funds, and incentive deposits.
    bullet If you are a new participant in the HSA, Mellon Bank will send you information on how to set up your HSA account.
    bullet You must open and activate your HSA account within 60 days of your benefit effective date. If you do not open your HSA account within 60 days of your effective date, all attempted contributions will be forfeited (including the 50% initial County match and incentive deposits). Your payroll deductions will be returned to you. If your account is opened beyond the 60 days timeframe, you are responsible for notifying Montgomery County HR in order to begin your contributions going forward. Under no circumstances will contributions be made prior to the date the account was open.
    bullet Montgomery County will deposit incentive money into your HSA account based on completion of the wellness incentive criteria.
    bullet Your account earns interest and the earnings accumulate tax free.
    bullet Your HSA funds will rollover year to year if unused.
    bullet If you retire or leave Montgomery County employment, you can take the unused balances with you.
    bullet There is no limit to the amount of money you can accumulate in the account over your lifetime, so long as the annual contributions are not over the annual limit.
    bullet You cannot contribute to a healthcare/medical FSA if you are contributing to an HSA.
    bullet If you have an HSA, you are eligible to participate in a Limited Purpose FSA.

Resources & Information

    HSA/My BenefitWallet: www.mybenefitwallet.com
    www.irs.gov (search HSA)
    www.mcbenefits.org - Online benefits resource for all County benefits plans, links to vendor websites, forms, online decision support tools and more
    Human Resources Department (225-4018)
    Email: hr@mcohio.org