HSA / FSA

hireEZ offers two types of pre-tax accounts: a health savings account (HSA) and flexible spending accounts (FSAs).

When you put money into a pre-tax account, you can save up to 20%* on your care and increase your take home pay. This is because you don't pay tax on your contributions.

Enrolled in the Cigna HDHP?

Health Savings Account

Consider funding a health savings account (HSA).

  • Eligible for hireEZ contribution based on coverage level, see page 13 for details
  • Roll over all funds each year
  • Invest funds for long-term savings
  • Spend funds penalty-free after age 65

Enrolled in the Cigna PPO or Kaiser Permanente DHMO?

Health Care Flexible Spending Account

Consider funding a health care flexible spending account. If you fund an HSA, you cannot fund a health care FSA.

  • No hireEZ contribution
  • You may roll over up to $640 each year

Paying for child or elder care expenses?

Dependent Care Flexible Spending Account

You may fund a dependent care flexible spending account.

  • No hireEZ contribution
  • No roll over allowed
  • Dependent care expenses only

*Percentage varies based on your tax bracket.

Health Savings Account

If you enroll in the Cigna HDHP, you may be eligible to open and fund a health savings account (HSA) through HealthEquity.

An HSA is a savings account that you can use to pay out-of-pocket health care expenses with pre-tax dollars.

hireEZ Contribution

If you enroll in the Cigna HDHP, hireEZ will help you save by contributing to your account.

  • Employee Only: $600/year
  • Employee + Spouse: $900/year
  • Employee + Child(ren): $900/year
  • Employee + Family: $1,200/year

The annual amount will be deposited per pay period and pro-rated for new hires throughout the year.

2024 IRS HSA Contribution Maximums

Contributions to an HSA (including the hireEZ contribution) cannot exceed the annual maximums.

  • Individuals: $4,150
  • All other coverage levels: $8,300

If you are age 55+ by December 31, 2024, you may contribute an additional $1,000.

HSA Eligibility

You are eligible to fund an HSA if:

  • You are enrolled in the Cigna 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 Human Resources.

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.

Flexible Spending Accounts

hireEZ offers two flexible spending account (FSA) options through HealthEquity.

Health Care FSA (not allowed if you fund an HSA)

Pay for eligible out-of-pocket medical, dental, and vision expenses with pre-tax dollars.

The health care FSA maximum contribution is $3,200 for the 2024 calendar year, minimum election of $100 per year required to enroll.

Dependent Care FSA

The dependent care FSA allows you to pay for eligible dependent day care expenses with pre-tax dollars. Eligible dependents are children under 13 years of age, or spouse, a child over 13, or elderly parent residing in your home who is physically or mentally unable to care for him or herself.

You may contribute up to $5,000 to the dependent care FSA for the 2024 calendar year if you are married and file a joint return or if you file a single or head of household return. If you are married and file separate returns, you can each elect $2,500 for the 2024 calendar year. Minimum election of $100 per year required to enroll.

How To Use An FSA

Contribute
Decide how much to contribute to your FSA
on a plan year basis up to the maximum allowable amounts. This amount will be evenly divided by the number of pay periods and deducted on a pre-tax basis from your paycheck.

Pay
Use your FSA debit card to pay for eligible expenses at time of service or submit a claim for reimbursement at healthequity.com. Keep all receipts in case HealthEquity requires you to verify the eligibility of a purchase.

Use it or lose it
Use your FSA funds before the end of the year—any health care FSA funds in excess of $640 will be forfeited.

HSA / FSA
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    Resources

    OPEN ENROLLMENT BEGINS ON 11/20 AND ENDS ON 12/4.

    You have three ways to enroll:

    1. Self-enroll in your benefits via Workforce Now. Navigate directly by clicking here: ADP Portal.
    2. Call the Benefits Concierge Center at 866-331-2709. The Concierge Center is open Monday-Friday, 8am-8pm EST.
    3. Schedule an appointment with a Benefits Counselor by clicking below.