Health Saving Account (HSA)
A Health Savings Account (HSA) combines high deductible health insurance with a tax-favored savings account. Money in the savings account can help pay the deductible. And money left in the savings account earns interest and is yours to keep.
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For 2024, you can contribute up to $4,150 as a single ($4,300 for 2025) and $8,300 if you enroll as a family ($8,550 for 2025). Additionally, if you are age 55 or older, you are eligible to make a catch-up contribution of $1,000.
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You may elect to change your contribution amount at any time throughout the year!
For 2023-24, Tel Hai will make a dollar-for-dollar match of up to $15 per pay if you contribute to the HSA. Also, if you enroll in the Base Plan for the first time, Tel Hai will make a one-time HSA contribution of $300. Here is a list of common HSA eligible expenses.