Health Savings Account

A Health Savings Account (HSA) is a personal and portable bank account that is yours to keep. If you are enrolled in a High Deductible Health Plan (HDHP - Option 1 or 2) you can open a Health Savings account to pay for qualified medical, dental, and vision expenses. Your HSA funds are available on a pay as you go basis via payroll deductions. As mentioned, Graham will be transitioning to MMA East's Spending Account platform through Businessolver for the HSA.

Funds roll over at the end of each year and accumulate tax-free, as does the interest on the account. Also, once you reach the age of 55, you are allowed to make additional “catch-up” contributions to your HSA until age 65. Due to the short plan year, you can contribute up to half of the IRS annual maximum, which is $2,150 for individuals and $4,275 for families. You will have the opportunity to re-enroll for the 2026 plan year during our Open Enrollment period in the Fall.

HSA Eligibility

• Must be enrolled in a High Deductible Health - Option 1 or Option 2.
• Cannot be covered by any other health plan that is not a Qualified High Deductible Health Plan.
• Cannot be receiving any benefits from Medicare (including Medicare Part A).
• Cannot have coverage under a spouse’s HRA or FSA.

NOTE: If you are enrolled in Medicare, you are not eligible to contribute to an HSA. Making contributions while ineligible can result in tax penalties. If you are approaching (or are older than) age 65, you should make time to discuss your HSA contribution strategy with a tax advisor.

Reminders

• Do not use your HSA card to pay at the time of service with your medical provider.
• Make sure your Member Responsibility on your EOB matches your invoice from your doctor.
• If you have issues with your provider's invoice, please contact Meritain's Member Services (number found on your ID card) or the Graham Company's Benefits Team.
• You can use your HSA to pay for eligible medical, dental, and vision services.
• You can pay for prescriptions at the point of service if you have a sufficient balance on your HSA debit card.

Please note: State laws differ. Contributions made to your HSA may not be deductible from state income taxes. A Health Savings Account is a tax-advantaged savings account that permits you to contribute funds on a pre-tax or tax deductible basis. These funds may be used to pay for current and future eligible medical expenses. This includes eligible medical and prescription drug expenses that apply to your deductible, coinsurance amounts after you have met your deductible, or any eligible dental or vision expenses. The combination of employer and employee funds may not exceed the IRS maximum limits.