Health Savings Account
An HSA is a benefit that allows you to choose how much of your paycheck you’d like to set aside, before taxes are taken out, for healthcare expenses or use as a retirement savings tool. This plan offers tax savings that a 401(k) and IRA don’t, making it a powerful option for diversifying your retirement portfolio.
When you are enrolled in a Qualified High-Deductible Health Plan (QHDHP) and meet the eligibility requirements, the IRS allows you to open and contribute to an HSA Account. An HSA is a tax-sheltered bank account that you own for the purpose of paying eligible health care expenses for you and/or your eligible dependents for current or future healthcare expenses. The Health Savings Account (HSA) is yours to keep, even if you change jobs or medical plans. There is no “use it or lose it” rule; your balance carries over year to year.
Tax Advantages
- Money you deposit into an HSA is exempt from federal income taxes.
- Interest in your account grows tax free.
- You don’t pay income taxes on withdrawals used to pay for eligible health expenses. (If you withdraw funds for non-eligible expenses, taxes and penalties apply.)
- You also have a choice of investment options which earn competitive interest rates, so your unused funds grow over time.
2026 HSA Contribution Limits
You can contribute to your Health Savings Account on a pre-tax basis through payroll deductions up to the IRS statutory maximums. Below are the IRS maximum HSA contributions for the 2026 tax year. These maximum limits include both employer and employee contributions combined.
- $4,400 Individual
- $8,750 Family
- If you are age 55 or older, you may be eligible for an extra $1,000 catch up contribution.
The Health Savings Account (HSA) will be administered by Wex. In the months of January and July, the County will fund your Health Savings Account (HSA) as follows:
- $125 Individual (Total for the year $250)
- $250 Employee and Spouse/Employee and Child(ren) (Total for the year $500)
- $500 Family coverage (Total for the year $1,000)
The Health Savings Account (HSA) will be administered by Wex.
High Deductible HSA Plan Presentation and information Sessions:
