A Health Savings Account (HSA) is a tax-advantaged account employees should have if enrolled in a High Deductible Health Plan (HDHP). Pre-tax contributions are available to pay for eligible healthcare expenses like deductibles and coinsurance. Employees will receive the state’s monthly deposit of $41.66 for single coverage and $83.33 for family coverage. Unused funds roll over each year and account funds are portable once state employment ends.
| Yearly Contribution | Individual | Family |
|---|---|---|
| Employee | $4,300 | $8,550 |
| Employer | $500 | $1,000 |
