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, 2021
$3,650 per year
$7,200 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.