If you are enrolled in the group’s High Deductible Health Plan (HDHP) you are eligible to participate in the Health Savings Account (HSA) offered through WEX that provides for tax-free contributions to pay for expenses not covered by the firm’s health plan. These expenses may include out-of-pocket expenses such as deductibles, copayments, or coinsurance. HSAs are a particularly useful financial tool in saving for future medical expenses, even those incurred during retirement.
| 2025 IRS Contribution Limits | ||
|---|---|---|
| Single | Family | |
| Maximum Contribution | $4,300 | $8,550 |
| Catch-Up Contribution (age 55+) | $1,000 | $1,000 |
You contribute pretax dollars to the HSA. Interest accumulates tax-free, and funds are withdrawn tax-free to pay for medical expenses.
You can use the money in your HSA to pay for eligible medical expenses and prescriptions. The HSA funds you use can help you meet your plan’s annual deductible.
THE OPPORTUNITY FOR LONG-TERM SAVINGS: Save unused HSA funds from year to year — you can use this money to reduce future out-of-pocket health expenses. You can even save HSA dollars to use after you retire.
You are eligible to open and fund an HSA if:
Once your account is open, you can access it via www.healthequity.com. You’ll set up your payroll contributions during open enrollment. You can make contribution changes at any time during the year through WEX. Note that it may take between one and two payroll periods for an HSA change to be processed.
The HSA is administered by Health Equity. Kansas City Orthpaedic pays the monthly administrative fee for your HSA. If your coverage status or employment status changes, you will be responsible for all HSA account holder fees.
You’ll notice two separate line items on your paycheck when you participate in the HDHP with HSA option — one
Employee Only – $4,300
Family – $8,550
Catch-up (age 55+) – $1,000
Employees can easily manage their Health Savings Account (HSA) contributions by making adjustments through Employee Navigator. Whether you want to start, stop, or change the amount you’re contributing, simply log in to Employee Navigator and follow the prompts to update your HSA contribution. Once your request is submitted, it will be reviewed by Human Resources. After HR approval, your updated contribution will be reflected in payroll and take effect in the next applicable pay period. Please note that any changes will not be applied until HR has approved and processed the update in the payroll system.
