Xpress Global Systems • 2023 Benefit Guide
HEALTH SAVINGS ACCOUNT (HSA) VOYA FINANCIAL 833-232-4673 | MYHEALTHACCOUNT.VOYA.COM EMAIL: HSAINFO@VOYA.COM
A health savings account (HSA) is a tax-advantaged savings account that can be used for your qualified healthcare expenses. You own your HSA and can contribute to the account with pre-tax payroll deductions based on your needs. Did you know an HSA provides triple tax benefits? The money you contribute is pre-tax, and the interest that accumulates in the account is tax-free. In addition, money withdrawn from an HSA isn’t taxed, provided you use it for qualified healthcare expenses. Like a savings account, you will only be able to withdraw funds that are in the account.
You are eligible if:
You are enrolled in the HDHP
You are not covered by a spouse’s plan
No one else can claim you as a dependent
You are not enrolled in Medicare, TRICARE or TRICARE for Life
As an added benefit, Xpress Global Benefits will contribute the following to your account:
You have not received VA benefits in the past 3 months
How Do I Access / Make Contributions to My HSA?
Employee
$250/year
Employee + spouse
$350/year
Manage your HSA at myhealthaccount.voya.com. You’ll set up your payroll contributions during your enrollment period and can make changes at any time throughout the year (although it may take between 1–2 payroll periods for any changes to be processed).
Employee + child(ren)
$350/year
Family
$1,000/year
HSA Advantages
How Much Can Be Deposited into an HSA in 2023?
You can use the account to pay for qualified healthcare expenses.
Up to $3,850 for individual
z
Unspent dollars roll over each year and are yours to keep if you retire or leave the company.
<55*
z Up to $7,750 for family *Not enrolled in Medicare
The maximum contribution increases by $1,000 *Not enrolled in Medicare
You can invest your HSA funds, so your available healthcare dollars can grow over time.
55+*
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