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​​​​​​​HSA - Health Savings Account​



 Content Editor

 

 HSA Information

If you enroll in the High Deductible health plan (HDHP), you are eligible to enroll in a Health Savings Account (HSA).

Bronson partners with BenefitWallet as the HSA administrator. An HSA allows you to set aside pre-tax dollars for current and future health expenses. When you enroll in the High Deductible Health Plan and open your HSA with BenefitWallet, Bronson will help fund your account by depositing a contribution at the beginning of each calendar year quarter (January, April, July, October).
  • If enrolled in Employee Only HDHP, $175 is contributed by Bronson each quarter
  • If enrolled in Employee + Spouse, Employee + Child, or Employee + Family HDHP, $350 is contributed by Bronson each quarter

How Does the HSA Work?

After you enroll in the Bronson HDHP, you will receive a welcome packet in the mail. Return the paperwork to BenefitWallet to receive an HSA debit card. An account will automatically be set up for you with BenefitWallet. Bronson will deposit funds quarterly as long as you remain benefit-eligible and enrolled in the HDHP. You may contribute pre-tax money to your HSA through payroll deductions and also can make after-tax deposits on your own.

Each year the balance in your HSA rolls over and can be saved for future expenses. After your account balance is greater than $1,500, you have the option to invest in a variety of mutual funds. You may change your HSA contribution amount at any time in the year within Workday.​


HSA How It Works.png  

Contributing to Your HSA

The table below shows the total contribution amounts. These amounts may change each year per the IRS.

​​2022 Annual HSA Contribution Amounts​
​If you enroll:
Bronson will contribute:
​You may contribute:
​For a combined total limit​:
​If you are age 55 or older, you may contribute $1,000 more.
Your total combined limit:

​HDHP Employee Only​​​​​
​$700
​$2,950
​$3,650
$4,650​
​HDHP Employee + Spouse,
Employee + Child, or
Employee + Family
​$1,400
​$5,900
​$7,300
$8,300​


  
  
HSA BenefitWallet Overview.pdf
  
HSA Reasons to Open HSA.pdf
  
  
Notes
  
View this short video from ALEX about HSA.
  
Benefit Wallet is Bronson's HSA provider.
  
View this short video to learn the difference between a FSA and HSA to decide which is best for you.
  
Learn the basics about what an HSA is and how much you can save by having one.
  
The IRS determines what you can and cannot use your pre-tax HSA funds on.
  
View this short video from ALEX about using your HSA to save for retirement.
  
View this short video from ALEX to see what you can use HSA funds on.
  
Review this short video from ALEX to understand what an HSA is and how it can benefit you.


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