Only high deductible plan members are eligible to participate in an HSA
The district does not open an HSA for you, you find your own bank, and we deposit the tax-free contributions into it.
You can utilize the account for all medical related expenses (Appointments, prescriptions, etc)
Fund contributed and not spent, will be rolled over for future years
You can change your election amount at any point in the year (Please note, employees are solely responsible for ensuring they are within the IRS limits)
Utilize funds for qualified medical expenses
The district creates and account for you on Optum, and you work with them to access your funds
You will have access to all of your annual funds at the start of the year, no matter how much you have contributed so far.
Funds in account do not roll over to future years, use it or lose it.
Max contribution limit = $3,200.
Utilize funds for child, disabled spouse or aging parent care
The district creates and account for you on Optum, and you work with them to access your funds
The election you make is for the whole plan year, but you will only have access to the funds as you contribute them each month
Funds in account do not roll over to future years, use it or lose it.
Max contribution limit = $5,000.