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 Interest accumulates tax-free, and funds are withdrawn tax-free to pay for medical expenses.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:

• You are enrolled in an HSA-eligible high-deductible health plan, such as Kansas City Orthopaedic Institute’s medical plans.
• You are not covered by your spouse’s health plan (unless it is a qualified HDHP), flexible spending account (FSA) or health reimbursement account (HRA).
• You are not eligible to be claimed as a dependent on someone else’s tax return.
• You are not enrolled in Medicare, TRICARE or TRICARE For Life.
• You have not received Veterans Administration

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