Health Savings Account (HSA)

If you enroll in a High Deductible Health Plan (HDHP), you may be eligible to open a HealthEquity HSA. An HSA can help you pay for eligible health care expenses such as medical, dental, vision care, and prescription drugs.

HSA advantages

What’s in It for Me?

You can set aside pre-tax money from your paycheck to help pay for additional health care expenses.
HSAs give you triple tax advantages:
- Your contributions to the HSA are not taxed*
- Payment of qualified expenses is tax-free
- Earnings are tax-free*
An HSA is an individual account you own. The entire balance is yours to keep — if you leave the company, the account goes with you.
You can make changes to your HSA contributions at any time. Unused funds always roll over to the next plan year.
Manage your health care spending and savings to grow your balance for future qualified medical expenses, such as those in retirement.

*See IRS Publication 969 for details.

2027 maximums

How Much Can I Contribute?

Coverage Type	2027 Maximum Employee Contribution
Individual	$4,500
Family	$9,000

If you’re age 55+, you can contribute an additional $1,000 per year in catch-up contributions.

If you have contributed to an HSA through multiple companies in one calendar year, make sure not to exceed the annual IRS maximums. Consult a tax professional for details.

Eligible Expenses

What Can You Pay for With Your HSA?

Use your HSA tax-free for many qualified health care expenses, including:

Doctor and specialist visits
Deductibles, copays, and coinsurance
Prescription medications
Dental care, including exams, fillings, and orthodontia
Vision care, including exams, glasses, and contact lenses
Mental health care
Physical therapy
Chiropractic care
Hearing aids and hearing exams
Eligible over-the-counter medications and menstrual care products
Certain medical equipment and supplies

For a full list of eligible expenses, visit HealthEquity or see IRS Publication 502 for more information.

The rules

HSA Eligibility Requirements

You must be enrolled in the BCBS HDHP.
You cannot be covered under another non-qualified health plan, including your spouse’s Health Care FSA.
You cannot be enrolled in Medicare or Tricare.
You cannot be claimed as a dependent on someone else’s tax return.

Quick Links

Questions?

HealthEquity

Learn more

Video Resources

Short explainers on how an HSA works and how it compares with an FSA are in the Video Library.