Health Savings Account (HSA)

Administered by WEX

Available to Employees Enrolled in the Value or Base Health Savings Plan

Health Savings Accounts (HSA) allow eligible employees to set aside money in a tax-free account to pay for your eligible out-of-pocket medical, dental, vision and prescriptions. Your HSA balance rolls over from year to year, so you don’t lose unused funds at the end of the year. The money in your HSA is yours to keep, even if you change jobs or retire.

ANNUAL CONTRIBUTIONS	PYRAMID CONTRIBUTES	YOU CAN CONTRIBUTE UP TO**	TOTAL 2026 IRS MAX
Individual	$400*	$4,000	$4,400
Family	$750*	$8,000	$8,750

**The IRS maximum includes both employee and employer contributions. If you are age 55 or older, you may contribute an additional $1,000 catch-up contribution, subject to IRS eligibility requirements.

How the Health Savings Plans Work

DEDUCTIBLE. You generally pay the cost of eligible medical and prescription expenses until you meet your plan’s deductible. Preventive care is covered at 100% when provided as required by the plan.

COINSURANCE: After you meet your deductible, you and the health plan share the cost of eligible covered services through coinsurance. You pay a percentage of the cost, and the plan pays the remaining percentage.

OUT-OF-POCKET MAXIMUM: You continue to pay your share of covered expenses until you reach your plan’s out-of-pocket maximum. Once you reach the out-of-pocket maximum, the plan generally pays 100% of covered eligible expenses for the remainder of the plan year, subject to the terms of the plan.

It’s Your To Keep

Money remaining in your HSA rolls over from year to year and continues to belong to you. You do not have to use your HSA balance by the end of the plan year.

HSA funds can be used tax-free for qualified medical expenses. After you reach age 65, you can withdraw money from your HSA for any purpose without the additional 20% tax penalty. However, withdrawals used for non-qualified expenses are generally subject to income tax. Withdrawals for qualified medical expenses remain tax-free.

Triple-Tax Advantage

An HSA offers three potential tax advantages:

Contributions: Contributions are generally tax-free.
Earnings: Any investment earnings in the HSA are generally tax-free.
Qualified withdrawals: Withdrawals used for qualified medical expenses are tax-free.

This makes an HSA a valuable tool for managing current healthcare expenses and building long-term savings.

Learn More About Eligible Expenses

For a complete list of qualified HSA expenses, contact WEX at 866-451-3399 or visit: WEX Eligible Expenses

Note: HSA contribution limits are set by the IRS and may change annually. Employees are responsible for ensuring that their total HSA contributions, including employer contributions, do not exceed applicable IRS limits.