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How the Health Savings Account (HSA) Works

A HSA is like a personal savings account for healthcare, except it's all tax-free. You may participate as long as you and your spouse are not covered by Medicare or other medical coverage. Here's how it works if you enroll in a Health Investor Medical Plan and the HSA the State offers and participate for the entire calendar year:

For someone participating in a HSA for full year...

 

You may contribute*

Individual Coverage

...up to $1,250/year tax-free

Family Coverage

...up to $2,500/year tax-free

 

HSA Enrollment Required
When you sign up for a Health Investor PPO or HMO, you still have to enroll in a Health Savings Account and complete any steps to activate your account . See How to Enroll for what you need to do.

*Total contributions for both the individual and family plans are the same as the deductibles for each Health Investor