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Health Savings Accounts (HSAs)

Use a health savings account to help achieve financial well-being by paying for health care expenses now and into the future. 

On the path to achieve personal well-being

On the path to achieve personal well-being

Your health plan should take care of the whole you, both physically and financially. In this video, you'll learn about the benefits of our high deductible health plan (HDHP) combined with an HSA.

Make the most of your HSA

Make the most of your HSA


When you pair an Aetna®  high-deductible health plan with an HSA, you can contribute what you save on lower premiums to your HSA for current and future health care expenses. It's a great tax-advantaged plan that can also help you build a healthier financial future.

 

An HSA offers you many tax advantages: 
 

  • Money you put into an HSA can lower your taxable income.
  • Money you contribute to your account is tax-free.
  • Money you take out to pay for eligible health care expense is never taxed. 

Your HSA questions answered

How do funds get into an HSA?

You can contribute money to your HSA at any time. If you elect an HSA through your employer, you may be able to have money from your paycheck deposited into your HSA. Your employer can also contribute. If you have an Individual HSA from PayFlex, you can add money from a linked bank account or send in a check.

How much can I contribute?

The IRS sets a limit on how much you can contribute each year. For 2022, it’s $3,650 for self-only coverage and $7,300 for family coverage. If you elect an HSA through your employer, your spouse and adult children (up to age 26) can open an individual HSA through PayFlex. Spouses aged 55+ can contribute $1,000 a year and adult children can contribute up to the family limit of $7,300.

What can I pay for with an HSA?

From cough medicine to prescription contact lenses to office visit copays and more, you might be surprised at all the expenses you can pay for with your HSA. 

What happens to HSA funds at year end?

The money in your HSA doesn’t disappear. It’s yours to keep, even if you change jobs or health plans. And it’s yours to use as you like — whether you choose to save or spend your funds.

 

The HSA advantage

Find more information about HSA through PayFlex and explore the advantages.

 

Legal notices

Aetna is the brand name used for products and services provided by one or more of the Aetna group of companies, including Aetna Life Insurance Company and its affiliates (Aetna).

Health benefits and health insurance plans contain exclusions and limitations.

PayFlex Systems USA, Inc. is an affiliate of Aetna Life Insurance Company.

This material does not contain legal or tax advice. You should contact your legal counsel if you have any questions. For more information about PayFlex, go to PayFlex.com.

There may be fees associated with a Health Savings Account (“HSA"). These are the same types of fees you may pay for checking account transactions. Please see the HSA fee schedule in your HSA enrollment materials for more information.

Investment services are independently offered through a third party financial institution. By transferring funds into an HSA investment account you can potentially benefit from capital appreciation in the value of mutual fund holdings. However, you will also be exposed to a number of risks, including the loss of principal, and you should always read the prospectuses for the mutual funds you intend on purchasing to familiarize yourself with these risks.

The HSA investment account is an optional, self-directed service. We do not provide investment advice for HSA investment account participants. You are solely responsible for any investment account decisions you make. Mutual funds and brokerage investments are not FDIC-insured and are subject to investment risk, including fluctuations in value and the possible loss of the principal amount invested. The prospectus describes the funds’ investment objectives and strategies, their fees and expenses, and the risks inherent to investing in each fund. Investors should always read the prospectus carefully before making any investment decision. System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.

HSAs are currently not available to HMO members in California. 

HSAs are currently not available to HMO members in Illinois.