HSA Contributions

Contribution Timing

• HSA contributions will be distributed evenly over the course of the year, in accordance with your payroll schedule.

• Biweekly: 24 pay periods | Monthly: 12 pay periods | 9-Month: 18 pay periods

Note: If you are already enrolled in a Health Savings Account (HSA) you must re-enroll each year to continue participation. Enrollments do not carry forward from year to year.

Annual Limits

¹Contributions from all sources combined, such as employee, employer, and third parties (i.e. parent, spouse, or anyone else) must not exceed these limits.

²Health Savings Account holders that meet these qualifications are eligible to make an HSA catch-up contribution of $1,000: age 55-65 (regardless of when in the year an account holder turns age 55), not enrolled in Medicare (if an account holder enrolls in Medicare mid-year, catch-up contributions should be pro-rated). 

Employer Contribution

Eligibility 

Only active state employees who are participating in the HDHP and HSA will be eligible for an employer HSA contribution.

When an employee leaves state service, they will become responsible for paying all fees associated with the HSA. The monthly maintenance fee is $1.32 per month with Optum Financial and is automatically deducted from the account. HSAs with a zero balance opened for up to 13 months with no activity on the account will automatically be closed. 

Your employer will cover the administrative fee if you are actively enrolled in the Group Health Insurance Program HDHP plan. If you are not enrolled in an HDHP plan, you will be responsible for the administrative fee on the HSA. Members who transferred their HSA to Optum Financial but did not enroll in the HDHP and HSA for the plan year will be responsible for administrative fee cost.

Retirees enrolled in the HDHP/HSA benefit option are not required to pay the monthly administrative fee.

Amount

This is the amount your employer will deposit to your HSA, if you are eligible. 

Timing

State employer HSA contributions for employees who are paid biweekly will be provided in 24 payments.

Employees paid monthly will receive one payment per month. 

Employees who leave state service will not receive any payments that would have occurred on future paychecks.

HSA Contributions After Age 65

You can make an HSA contribution after you turn age 65 and enroll in Medicare if you have not maximized your contribution for your last year of HSA eligibility. You have until April 15 of the year following the tax year you lose HSA eligibility to make your HSA contribution. You can do so even if you are no longer eligible for an HSA so long as you are making a contribution for a period when you were eligible.

Retirees enrolled in the HDHP/HSA benefit option are not required to pay the monthly administrative fee.