Health Savings Account (HSA)
If you enroll in the Anthem Standard HDHP, you may be eligible to open and fund a health savings account (HSA) through WealthCare.
An HSA is a savings account that you can use to pay out-of-pocket health care expenses with pre-tax dollars.
A WealthCare HSA account will automatically be opened if you enroll in the Anthem Standard HDHP.
2024 IRS HSA Contribution Maximums
Contributions to an HSA cannot exceed the IRS allowed annual maximums.
Individuals: $4,150
All other coverage levels: $8,300
If you are age 55+ by Dec. 31, 2024, you may contribute an additional $1,000.
HSA Eligibility
You are eligible to fund an HSA if:
You are enrolled in the Anthem Standard HDHP.
You are NOT eligible to fund an HSA if:
You are covered by a non-HSA eligible medical plan, health care FSA, or health reimbursement arrangement.
You are eligible to be claimed as a dependent on someone else’s tax return.
You are enrolled in Medicare, TRICARE, or TRICARE for Life.
Refer to IRS Publication 969 for additional eligibility details. If you are over age 65, please contact the Benefits Department.
Maximize your tax savings with an HSA
Spend
Pay for eligible expenses such as deductibles, dental and vision exams, menstrual care products, and prescriptions.
Save
Roll over funds every year to boost your long-term savings. Even if you switch health plans or jobs, the money is yours to keep.
Invest
Invest and grow HSA funds tax free—including interest and investment earnings. After age 65, spend HSA dollars on any expense penalty free.