Benefits Education - Health Savings Account (HSA)
Did you know that if you are enrolled in the BlueEdge HDHP you can set aside pre-tax contributions from your paycheck into a Health Savings Account (HSA) administered by BenefitWallet? Not only can an HSA be utilized for your eligible out of pocket medical, vision and dental expenses, but it has a lot of other great features such as:
Higher contribution limits that roll over year to year:
- $3,350/year with employee-only coverage
- $6,750/year with dependent coverage
- +$1,000/year “catch-up” if over age 55 or older
*OSU contributes $83.34 per month into your HSA for those enrolled in BlueEdge employee-only and $125 per month with dependent coverage
**Contribution elections can be made throughout the year without a qualifying event
- Investment options: upon reaching $1000 in your account, you can set up an HSA Investment Account to diversity and grow your savings tax free.
- Account ownership: you own your account, and it goes with you if you leave the University. Upon leaving, the funds can be utilized to pay for your COBRA or Medicare Insurance.
For more information please visit www.mybenefitwallet.com or contact OSU Benefits at 405-744-5449, firstname.lastname@example.org or 106J Whitehurst.