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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.

We know that enrolling in health insurance can be challenging

 

And many people don’t know where to start.

 

 

At Aetna®, we want you to feel great about your health and coverage.

 

 

That's why we're here to help you plan and save for your health care.

 

Choosing the right health plan can be easier than you might think.

 

Let’s begin with a high-deductible health plan – HDHP for short.

 

A high-deductible health plan comes with a lower premium, meaning less money will come out of your paycheck for coverage.

 

So when you select an HDHP, you’re already saving.

 

A high-deductible health plan can be combined with a health savings account (HSA). And when they are paired together, you can save even more.

 

You can contribute money from each paycheck into your HSA.

 

When you contribute to your HSA with the money you save from your lower premiums, you give yourself tax-free dollars.

 

That’s right - this is the only tax- free financial account where you can gain interest and save money while spending on qualified health expenses

 

Funds in your account roll over from year to year.

 

And that’s how an HSA can help you build a better financial future.

 

As you watch your savings grow, you’ll worry less about paying for your health in the future, something your 401(k) will thank you for.

 

 

Your money will grow for future financial stability, which means tax advantages, less stress and better well-being.

 

 

So if life throws you a curveball, your HDHP and HSA will help keep you covered.

 

Your health plan should take care of the whole you — both physically and financially.

 

By choosing an Aetna® HDHP and an HSA, you’re making the right choice for your personal well-being.

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.