An HSA helps you save smart for healthcare. Contribute pre-tax dollars, use them tax-free for eligible medical expenses, and watch your savings roll over year after year. It's a flexible way to lower your taxable income today while building a healthcare safety net for the future.
The Bronze PPO and Select plans are High Deductible Health Plans (HDHPs), which mean they come with a higher annual deductible. But they also have an HSA that allows you to set aside pre-tax money through payroll deductions to pay for qualified medical expenses, including the deductible.
The money in your account can be used now, throughout your career, and even in retirement.
Bonus: When you enroll in a Bronze plan and open an HSA through HealthEquity, CPI makes contributions to your account each pay period!
You can set aside pre-tax money from your paycheck to help pay for out-of-pocket healthcare expenses. HSAs offer three tax advantages:
*State taxes may still apply in CA and NJ. For detailed tax implications of an HSA, please contact your professional tax advisor.
You can open and use an HSA if you're enrolled in an HDHP—like the Bronze plan—and don't have other non-qualified coverage, such as a spouse's Health Care Flexible Spending Account.
Your HSA is here to help your money go further. Use it tax-free on doctor visits, prescriptions, dental and vision care, mental health counseling, physical therapy, lab work, chiropractic care, medical equipment, and hearing aids.
For a full list of everything the HSA covers, visit the official IRS Publication 969.
The Bronze PPO and Select plans are HDHPs, which team up with an HSA to give you reliable coverage and a tax-advantaged way to pay for care.
The HDHP covers 100% of the cost of an in-network provider.
You can use your HSA to help pay for these expenses.
The HSA funds can be used toward your share of the coinsurance.
You're in the clear; the plan pays 100% of healthcare expenses.
Watch to see how pre-tax dollars and the HSA's annual rollover can stretch your health budget.