Health Savings Accounts
A Health Savings Account (HSA) allows employees to set aside pre-tax dollars for qualified medical expenses.
Who is Eligible?
Employees who are enrolled in the College’s high deductible health plan may open a Health Savings Account.
What is a Health Care HSA?
A Health Care HSA can reimburse you or help you pay for medical and/or dental expenses not paid for by insurance, usually deductibles, copayments, and coinsurance for the employee’s health plan.
Examples of Qualifying Medical Expenses
Annual Limits for HSA beginning January 1, 2023
Individual HSA: $3,850
Family HSA: $7,700
Annual Limits for HSA for 2022:
$3,650 per year
$7,300 per year
Age 55 and over additional $1,000
These accounts are administered by The Harrison Group and can be monitored at www.theharrisongrouponline.com. .
HSA remittances will occur at the end of every month.