Health Savings Account
- You are able to participate in the HSA only if you enroll in the UHC Select Plus HSA.
- An HSA is a personal bank account that is yours to keep.
- It’s portable. Even if you change jobs, you get to keep your HSA.
- You can use your HSA to pay for qualified healthcare expenses.
- It allows for an improved retirement account. Funds roll over at the end of each year and accumulate tax-free, as does the interest on the account.
- Once you reach the age of 55, you are allowed to make additional “catch-up” contributions of up to $1,000 to your HSA until age 65.
Please be aware that making contributions while ineligible can result in tax penalties. If you are approaching (or older than) age 65, you should make time to discuss your HSA contribution strategy with a tax advisor.
2025 ANNUAL CONTRIBUTION LIMITS $4,300 for Individual / $8,550 for Family Catch-Up Contributions: $1,000/year (HSA owners 55 and older)
HOW IT WORKS
Present your UHC Card
Complete your visit with provider.
Provider will submit claim for processing visit
UHC will adjust the claim and prepare the EOB (Explanation of Benefits)
You will receive an EOB from UHC and an invoice from your provider
Pay the patient responsibility from your HSA account
