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Health Savings Account

 

Th Health Savings Account is offered through Optum Bank, and current employees can access their account by logging in, or creating an account, at https://cdhaccount.optum.com/login.aspx. Once logged in, employees can find information about their current balance and investments, request a reimbursement for expenses paid without using the debit card, report a lost card or request a new card, and find important tax documents.

 

Benefits of the HSA

 

Pre-tax Contributions

The HSA is exclusively bundled with our Plan C health insurance, and allows the employee to make pre-tax contributions to a savings account which can be used for qualified health expenses. Simply put, if you expect to pay for any medical deductibles, dental or vision expenses, prescription medications, contact solution, or any other eligible expenses, then you can take home more of your salary and reduce your income taxes by paying for those expenses through the HSA.

Savings Account

Unlike Flexible Spending Accounts, the HSA is a savings account.  The difference is that the money contributed to an FSA must typically be spent before the end of the year.  On the other hand, the HSA lets you save the money as long as you want, and it actually earns interest while it is in the account.

Investment Options

In addition to the interest you will earn, you also have the option to invest the money in your account after meeting the $1000 minimum.  Just like the contributions to the account, the returns on the investments are also tax free. This means your HSA can grow even faster!

Portability

The HSA is portable which means you get to take it with you when you retire (or if you ever choose to leave).  Once money goes into the account, it is yours until you choose to spend it.

Employer Contributions

If you elect Plan C with the HSA, Emporia State University will make quarterly contributions to your account.  The contributions are make on the 1st pay period in January,April,July, and October.  Your first employer contribution will be pro-rated amount based on your benefits effective date.  Contribution amounts are described in the chart below.

 

Full Time

Part Time

 

Employee Only

Employee + Spouse or Family

Employee + Dependents

Employee Only

Employee + Spouse or Family

Employee + Dependents

Employer Contribution

$1,000 per year

$1,250 per year

$1,750 per year

$625.20 per year

$687.60 per year

$1,187.60 per year

HealthQuest Rewards Employer Contributions*

Up to $500

Up to $1,000

Up to $500

Up to $500

Up to $1,000

Up to $500

Employee Contributions**

$25 to $79.16 semi-monthly

$25 to $187.50 semi-monthly

$25 to 187.50 semi-monthly

$25 to $94.78 semi-monthly

$25 to $210.93 semi-monthly

$25 to $210.93 semi-monthly

* Employees and spouses may each earn an additional $500 added to the HSA by participating in the HealthQuest Rewards Program.  See the HealthQuest section of the medical page for more information.

** Employees must contribute $25 per pay period to the HSA.

For more information about the HSA, and IRS regulations about health savings accounts, visit www.kdheks.gov/hcf/sehp/HSA.htm.