HSA & Dependent Care FSA

Health Savings Account (HSA)

Administered by Fidelity. Tax-advantaged accounts can help pay for eligible healthcare and dependent-care expenses.

• Funded by your and your employer's tax-free dollars. BearCom matches your contribution dollar-for-dollar, up to the limit listed.
• Your HSA rolls over from year to year.
• Your HSA is a personal bank account that you own and administer. You can save and roll over HSA funds to the next year, let funds accumulate year over year for eligible expenses in retirement, and take the account with you if you change plans or jobs. Annual contributions must be at least $250 (individual) or $500 (family); funds are deposited semi-monthly, 2-3 business days after the 15th and last day of the month.
• HSA contributions are made through payroll deduction on a pre-tax basis. The money in your HSA (including interest and investment earnings) grows tax-free. When funds are used for qualified medical expenses, they are spent tax-free. Per IRS regulations, if HSA funds are used for purposes other than qualified medical expenses and you are younger than age 65, you must pay federal income tax on the amount withdrawn, plus a 20% penalty tax.
• Eligible expenses: Doctors' visits, Eye exams, Prescription expenses, Laser eye surgery, Menstrual products, PPE, Over-the-counter medications, Qualified expenses for you, your spouse, and/or tax dependent(s), even if they're not covered by your plan.

HSA Contribution Limits

Employer Contribution

Eligibility

• You must be enrolled in the CDHP Plan.
• You are not covered by your spouse's non-CDHP health plan.
• Your spouse does not have a Healthcare Flexible Spending Account or Health Reimbursement Account.
• You are not eligible to be claimed as a dependent on someone else's tax return.
• You are not enrolled in Medicare or TRICARE.
• You have not received Department of Veterans Affairs medical benefits in the past 90 days for non-service-related care.