On this page:
- About Health Savings Accounts (HSA)
- Eligibility
- How It Works
- Accessing Your HSA Funds
- Contributions to Your HSA
- New Enrollees
About Health Savings Accounts (HSA)
A Health Savings Account (HSA) is a tax-advantaged account that can be used to pay for IRS-qualified health expenses for you, your spouse, and your tax dependents. You can use funds to pay for qualified medical, dental, and vision expenses on a tax-free basis.
The three main tax advantages of an HSA are:
- Contributions are deducted from your pay on a pre-tax basis.
- No taxes are withheld when funds are used for qualified medical, dental, and vision expenses.
- No taxes are withheld on account interest or investment earnings.
HSAs can also be used as a long-term savings vehicle. Funds in the account roll over annually and accrue interest tax-free. Additionally, funds exceeding $500 in your account can be invested.
Eligibility
Benefit-eligible employees (75% FTE or higher) enrolled in the High Deductible Health Plan (HDHP) who meet all the following requirements are eligible to participate in the HSA program:
- Cannot be covered by another non-high deductible medical plan.
- Cannot be covered by a Health Care Flexible Spending Account (FSA).
- Cannot be enrolled in Medicare benefits.
- Enrollment in any part of Medicare makes you ineligible to make or receive tax-free contributions to an HSA. However, you can still access your account balance to pay for qualified expenses.
- Cannot be claimed as a dependent on another person's tax return.
- Cannot be enrolled in any other nonqualified medical plan.
- Cannot be covered by TRICARE or be eligible to receive VA medical benefits.
- Cannot be on a J-1 visa.
How It Works
The HSA can be used tax-free for health care expenses incurred by you, your spouse, or your IRS-qualified tax dependents, even if they are not covered on your HDHP.
Examples of eligible expenses include:
- Medical, dental, and vision deductibles and coinsurance
- Prescriptions
- Medical equipment and supplies
- Acupuncture
- Disability aids and hearing aids
- Nursing home and home health care
- Dental and orthodontia services
- Eyeglasses or contact lenses
- COBRA premiums
- Medicare insurance
- Long-term care insurance
For a more extensive list of eligible expenses, visit Qualified Medical Expenses (QME) on the HealthEquity website or IRS.gov.
Accessing Your HSA Funds
Once HSA contributions are made, funds can be accessed in several ways:
- HSA Card: All HSA participants automatically receive a HealthEquity HSA Card, a debit-type Visa card that allows you to pay for eligible purchases and services directly from your HSA.
- Online: Log in to your HealthEquity account and select View Claims from the Claims & Payments tab to pay a health care provider online. You can also select Reimburse Me to reimburse yourself for eligible expenses paid out of pocket.
- Mobile App: Download the HealthEquity app to access your account from your mobile device.
Contributions to Your HSA
Wright State University Contributions
The university makes an annual contribution to your HSA of $500 or $1,000, depending on your level of coverage.
| Coverage Level | Wright State's Annual Contribution Amount |
|---|---|
| Employee | $500 |
| Employee + Child(ren) | $1,000 |
| Employee + Spouse | $1,000 |
| Employee + Family | $1,000 |
Your Contributions
Although not required, you can make contributions to your HSA up to the IRS limit. Contributions made through payroll deduction are pre-tax. Your annual election is spread evenly over each of your paychecks and can be changed at any time.
Remember that the maximum amount you can contribute may be impacted by your spouse's HSA contributions.
IRS Annual Limits
The IRS annual contribution limits for 2027 have increased. The total annual contributions deposited into your account, including both Wright State's contributions and your own, cannot exceed the following amounts:
| Coverage Level | 2027 Annual Contribution Limit |
|---|---|
| Employee | $4,500 |
| Employee + Child(ren) | $9,000 |
| Employee + Spouse | $9,000 |
| Employee + Family | $9,000 |
Catch-up contributions: Employees age 55 or older by the end of the 2027 tax year may contribute an additional $1,000 to their HSA.
Coordinating Your HSA Contributions with Your Spouse
If you and your spouse are each enrolled separately in employee-only HDHP coverage, each of you is subject to the employee-only HSA contribution limit of $4,500.
If either you or your spouse is enrolled in employee plus children, employee plus spouse, or family coverage, you are subject to the family contribution limit of $9,000 as a couple. In other words, if you or your spouse cover dependents on your HDHP, your combined HSA contributions cannot exceed $9,000, excluding any applicable catch-up contributions.
Example: Rowdy and his spouse each have family coverage under separate HDHPs. Rowdy is age 58, and his spouse is 53. The couple can split the family contribution limit of $9,000 equally or agree on a different division. If they split it equally, each can contribute $4,500 toward the family limit.
Rowdy can contribute an additional $1,000 because he is age 55 or older. If both Rowdy and his spouse were age 55 or older, each spouse would be entitled to an additional $1,000 catch-up contribution.
New Enrollees
Human Resources will establish your Health Savings Account (HSA) with HealthEquity. Your HealthEquity Welcome Kit, Custodial Agreement, and HealthEquity Visa Health Account Card will be sent to your home mailing address by December 31, 2026.
If you have questions about your HealthEquity account, call 866-346-5800. HealthEquity representatives are available to assist you 24 hours a day, seven days a week.