Help make the most of your high-deductible health plan (HDHP) and build your savings for the future by enrolling in a health savings account (HSA). Designed to work in conjunction with an HDHP and help offset the impact of the higher deductible, an HSA is an individually-owned, tax-advantaged account into which you and/or your employer can contribute pre-tax funds. These funds can be used to pay for qualified medical expenses incurred by yourself, your spouse, and any tax dependents covered by your HDHP.
Eligible HSA expenses include those related to medical, dental and vision that are not covered by your insurance plan. We have provided a comprehensive list here.
If your employer elects to contribute on your behalf, their contributions will also be deposited into your account.
Health Savings Account Contribution Limit (announced earlier this year)
Health Savings Account Catch-Up Contribution
High-Deductible Health Plan Out-of-Pocket Maximum
High-Deductible Health Plan Minimum Deductible
HSA balances can roll over from year to year
Employees and their employers can both contribute to an employee’s HSA
In addition to helping manage out-of-pocket healthcare expenses, HSAs are a valuable retirement savings tool. They even offer broader tax benefits compared to other retirement savings vehicles (like 401(k)s and IRAs), because they are triple tax-advantaged: you will not pay taxes on contributions, funds grow tax-free, and funds can be withdrawn tax-free for qualified expenses. Many financial advisors even recommend maxing out your HSA before investing in your 401(k) to optimize your tax benefit -- making HSAs are great supplement to a retirement plan.
If you go about saving your HSA funds judiciously, reserving them only for qualified medical expenses, this can be a great way to make use of your hard-earned money while adding more cushion to your future.
Quickly and conveniently pay for qualified medical expenses with your MyAmeriflex Card. The card will automatically withdraw the funds from your HSA account when you swipe it at eligible merchants and (in most cases) eliminates the hassle of having to substantiate an expense later on.
Convenience and award-winning customer service – right at your fingertips! With the MyAmeriflex Mobile App, you can access your account from anywhere. Check your account balance, file a claim, or check on the status of a reimbursement right from your mobile phone.
Account management just got easier. By logging into MyAmeriflex, you can gain access to resources aimed at helping you maximize the value of your HSA plan. In addition to managing all aspects of your account, you can also access interactive how-to’s, spending calculators, and more.