The Health Savings Account Plans puts you in the driver seat when it comes to saving money for you and for SBD.
In a HSA plan, SBD contributes money to your HSA bank account. You may also make contributions to your HSA bank account, up to IRS imposed annual limits. It is your responsibility to make sure your pre-tax deductions don't exceed IRS limits.
You must complete an attestation to open an HSA bank account in order to take advantage of the funds that SBD deposits into your account. This account stays with you always. The unused money in your account rolls into subsequent calendar years. Even if you leave SBD, you can take the account with you. You can use the money in the account to pay for qualified expenses and post 65 retiree health plan premiums. The SBD contribution to your bank account is deposited at the beginning of the plan year. The dollars you contribute to your account are tax-free, as are any investment earnings or interest earned on the contributions. Plus, your funds are tax-free when you withdraw them to pay for eligible health expenses.
If you are not sure if the HSA medical plan is for you, use ALEX (located in the Related Content links to the left of the SBD Benefits Center on the Health tab), your virtual benefits advisor. This comparison tool will help you determine if the plan is right for you. You can also read the brochures and other information, including some short vidoes, posted in Related Content to the right.
For helpful information, please see the documents below.
