HSA

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This content in this section is meant to help employers learn about our HSA plans and includes helpful forms and resources necessary to support groups through onboarding, enrollment, and beyond.

Pages

Helpful Downloads and Links

HSA Member materials - For even more information about our HSAs.

HSA Custodial Agreement - This is the agreement account holders make upon opening an HSA

HSA Essential Guide - This guide provides a comprehensive overview of HSAs for your employees.

Product Comparison Chart - This chart explains the differences among multiple health spending account options.

HSA Plan Design Guide - This form is required to set up an HSA.

HSA Direct Plan Design Guide - This form is required to set up a direct HSA.

Calculators:

HSA vs a Traditional Health Plan Calculator - Compare how an HSA eligible plan stacks up against traditional plans
HSA Goal Calculator - Plan your HSA balance into retirement with this calculator.
HSA Maximum Contributions Calculator - Figure out how much to contribute each money to maximize tax savings.
HSA Employer Benefit Calculator - Estimate the value of creating a High Deductible Health Plan (HDHP) with Health Savings Accounts (HSA) for your employees.

Frequently Asked Questions

Can business owners not eligible for a health reimbursement arrangement (HRA) establish an HSA?: Yes. This includes owners of S corps, sole proprietors, LLCs, LLPs and partnerships. However, these individuals cannot use pretax dollars via a cafeteria plan to fund their HSA. These individuals are eligible to make post- tax contributions to their HSA and claim a deduction when they file their taxes. We recommend you consult your tax advisor in this situation, as special rules apply.

What HSA investment options are available?

If desired, the account holder can leave the entire HSA balance at Further, where it earns interest, or choose to invest a portion of it. Once an HSA base balance exceeds $1,000, the account holder can open a basic, self-directed investment account, which gives access to more than 30 no-load and load-waived pre-selected mutual funds. At least $1,000 must be kept in the base balance of the HSA account.

In addition, when the basic investment account balance exceeds $10,000, the account holder can open a self-directed brokerage investment account with Charles Schwab. This account allows access to more than 2,500 mutual funds from a variety of families, as well as stocks, bonds, and other investments.

How is an HSA funded?

Contributions to an HSA can come from the account holder, the employer, or both. The HSA contribution limits for individual or family health plans change annually and are as follows:

The table below displays the current HSA contribution limits. Current contribution information can be found on the U.S. Department of Treasury website at treas.gov.

Tax Year	Individual Coverage Limits	Family Coverage Limits
2020	$3,550	$7,100
2021	$3,600	$7,200

Once age 55, members can contribute an additional $1,000 towards their HSA (either individual and family coverage).