If you participate in the HDHP medical plan, you may be eligible to participate in a Health Savings Account (HSA). An HSA is a tax-exempt savings account that can be used for eligible healthcare expenses (an expense which pays for care as described in Section 213 (d) of the Internal Revenue Code).
HSA Overview
​
What is a Health Care HSA?​
-
You may contribute pre-tax dollars to the HSA. Interest accumulates tax-free and funds are tax-free to withdraw for eligible medical, prescription, dental and vision expenses.
​
-
The HSA funds can be used to help you satisfy your plan’s annual deductible.
​
-
Your HSA with RWJBarnabas Health will be with Optum Bank.
​
What is a Health Care HSA?​
-
You must have coverage under an HSA-qualified HDHP medical plan.
​
-
You must have no other first-dollar medical coverage.
​
-
You must not be enrolled in Medicare.
​
-
You cannot be claimed as a dependent on someone’s tax return. Contributions to an HSA are limited annually by the IRS.
​
2025 Contribution Limits
​
For 2025, the contribution limits are:​
-
$4,300 for employee only coverage for employees under 55​
​
-
$8,550 for family coverage for employees under 55
​
-
Additional catch-up contribution of $1,000 for employees over age 55
