HSA
HSA: If you are enrolled in the Consumer Choice HSA (high deductible) healthcare plan, you’re eligible to have a Health Savings Account with HSA Bank. Your contributions are tax-free, saving you money on federal and state income taxes and Social Security taxes. How an HSA works: Only individuals enrolled in high-deductible health plans can contribute to HSAs. HSA funds can be rolled over from year to year. USG matches employee contributions up to certain amounts for HSAs. Decide what you want to contribute to your HSA for the year. Money is deducted pretax from your paycheck. Annual contribution goal amount can be changed throughout the year.
Pay for qualified medical expenses for yourself, your spouse, and your dependents. You can reimburse yourself for any eligible expense after you opened your HSA.
Use your HSA Bank Health Benefits Debit Card to pay directly or pay out of pocket for reimbursement or to grow your HSA funds.
You own the account, and it stays with you if you leave USG or enroll in another plan.
Any funds remaining in your account at the end of the year automatically rolls over into the next plan year. This can allow you to save the money for future years including retirement.
Investment options are available once you reach a minimum balance threshold of $1,000.
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