Health Savings Account
Available when selecting one of the HDHP medical plans
When you enroll in the Anthem HDHP or Centivo HDHP and meet the eligibility requirements, you may open a Health Savings Account (HSA) to help you pay for current out-of-pocket health care costs or save for future expenses – even into retirement.
The IRS Maximum HSA Contributions for 2027 Are:
- Single: $4,500
- Two-party/Family: $9,000
- If you’re 55 years of age or older, you can contribute an additional $1,000, also known as a catch-up contribution
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HSA Participation
- You must elect the amount you want to contribute each year you enroll.
- Your contributions will be deducted from your paychecks in equal installments.
- You cannot change your contribution amount during the year unless you have a qualifying event.
Ownership
HSA funds roll over from year to year. You own the account and can take it with you if you leave the company or retire.
Reduced Costs
The tax-free HSA funds you use can help you meet your plan’s annual deductible. You can also use your HSA funds to pay for the eligible health care expenses of your spouse and eligible dependents.
Investment Options
Once your HSA hits a minimum balance, you can invest the money in a variety of mutual funds to grow tax-free interest that can be used for future health care costs.
How Do I Use My HSA?
Using your HSA is easy. Simply use your HSA debit card to pay for eligible health care expenses up to the amount available in your account. Eligible expenses include medical, dental and vision deductibles, coinsurance and copays and prescription drugs costs and much more.
Navigating Your HDHP with an HSA is as Easy as 1-2-3
Does Pella Contribute to My HSA Account Too?
Yes! Pella deposits into your HSA account in increments each pay period (weekly, bi-weekly, monthly) totaling $500 for employee-only coverage and $1,000 for employee + spouse & employee + child(ren) coverage and $1,500 for family coverage. You must contribute the minimum amount in the table at right in order to receive the maximum Pella contribution.
Keep in mind that the combined amount of the company contributions and your contributions cannot exceed the IRS maximum limit.
NOTE: Pella also pays the administrative fees for the HSA as long as you are enrolled in the HDHP and are a team member of Pella.
Pella Contributes to Your HSA
| Weekly | Biweekly | Monthly | |
|---|---|---|---|
| Single | $9.62 | $19.23 | $41.67 |
| Team Member + Spouse | $19.23 | $38.46 | $83.33 |
| Team Member + Child(ren) | $19.23 | $38.46 | $83.33 |
| Family | $28.85 | $57.69 | $125.00 |
HSA Example:
Maria enrolls herself in the HDHP with HSA. She chooses to use her HSA to pay for covered services as she works to meet her annual deductible of $2,000.
| Year 1 | |
|---|---|
| HSA Contribution: Maria contributes $3,650. Plus, Pella deposits $500. | $4,150 |
| Eligible Expenses: Maria spends $1,650 of her HSA on eligible health care expenses. | - $1,650 |
| Leftover Funds: Maria has an account balance of $2,500 to carry over to next year! | = $2,500 |
| Year 2 | |
|---|---|
| HSA Contribution: Maria contributes $3,650. Plus, Pella deposits $500. Plus, last year’s rollover of $2,500. | $6,650 |
| Eligible Expenses: Maria spends $1,250 of her HSA on eligible health care expenses. | - $1,250 |
| Leftover Funds: Maria’s account balance has grown and she can carry this over to the following year. | = $5,400 |