Health Savings Account (HSA)
You can save money on health care and dependent care expenses by paying for them with tax-free accounts. Using these accounts effectively will help you take full advantage of their money-saving potential.
Money goes in tax-free and comes out tax-free when it's used for eligible expenses.
Contribute to your accounts easily and effortlessly.
Plan for upcoming expenses by setting aside money each paycheck.
View this example to see how much contributing to an HSA or FSA could save you.
Tax-advantaged accounts make a difference!
See how much contributing to an HSA or FSA could save you over the course of a year.
Tax savings on $2,000 contribution to HSA or FSA | |
---|---|
28% in federal income tax | $560 |
5% in state income tax | $100 |
7.65% in payroll tax | $153 |
Total tax savings for the year with an HSA or FSA | $813 |
This hypothetical illustration is for educational purposes only. Dollar amounts or savings will vary depending on income, state and city tax rules, and other factors. Please consult a tax, legal, or financial advisor about your own personal situation.
HSA | Limited Purpose Health Care FSA | Health Care FSA | Dependent Care FSA | |
---|---|---|---|---|
Available with … | Medical HSA Plan | Medical HSA Plan | Standard PPO Plan Premier PPO Plan (Also available if you waive medical coverage) | Any medical plan (Also available if you waive medical coverage) |
Receive company contribution | $250 (Employee Only tier) $500 (all other tiers) | No | No | No |
Change your contribution amount anytime | Yes | No | No | No |
Access your entire annual contribution amount as needed | No | Yes | Yes | No |
Access only funds that have been deposited | Yes | No | No | Yes |
Use account money for… | All eligible health care expenses | Only dental and vision expenses until you meet the IRS-required deductible, then use for all eligible health care expenses | All eligible health care expenses | Eligible dependent care expenses, including child care for children up to age 13 and care for dependent elders |
“Use it or lose it” at year-end | No | Yes | Yes | Yes |
Money is always yours to keep | Yes | No | No | No |
Employees in the Medical HSA Plan can open and contribute money to a Health Savings Account through HealthEquity. The HSA is a tax-free savings account that you can use to pay for eligible health expenses anytime, even in retirement.
Put money in tax-free.
Get company contributions.
Pay for care tax-free.
Carry over unused money.
The total amount you and Publicis can contribute to your HSA this year is:
Use your HSA together with the Limited Purpose FSA for additional tax savings. Note that with the Limited Purpose FSA, only dental and vision expenses are allowed.
The HSA has a triple tax advantage that trumps even a 401(k) or Roth IRA.
* Money in an HSA can be withdrawn tax free as long as it is used to pay for qualified health-related expenses. If money is used for ineligible expenses, you will pay ordinary income tax on the amount withdrawn, plus a 20% penalty tax if you withdraw the money before age 65.
To open an HSA, you must be enrolled in the Medical HSA Plan. If you’re enrolled and haven’t opened an HSA yet, visit HealthEquity to open your account. If you’re not enrolled in the Medical HSA Plan you may enroll during the next Open Enrollment period.
A married couple can expect to spend $350,000 on health care costs during retirement, even with Medicare coverage. If you contributed the annual maximum to your HSA for 30 years, your account could grow to $313,000. And don’t forget, Publicis’ contributions help you reach the annual limit faster!
Source: EBRI.org. Estimate of future account value assumes a 5% rate of return and no withdrawals.
Since HSAs offer significant tax advantages, the IRS regulates who may contribute. You may not participate in a Health Savings Account if:
For member and website support, call 1-877-635-5472. The customer service team is available:
Flexible Spending Accounts (FSAs), administered by HealthEquity, provide you with a convenient way to lower your out-of-pocket costs for medical, dental and vision expenses, as well as many day care expenses. Using an FSA is like getting a discount on everyday health and/or dependent care expenses because you’re paying with tax-free money. There are separate FSAs for health care and dependent care.
With FSA money, you use it or lose it. If you have a balance left in your FSA as year-end approaches, try to spend as much of it as you can on eligible expenses. Request reimbursement or manage your account on the HealthEquity website.
Pairs with the Standard PPO Plan and Premier PPO Plan only; also available if you waive Publicis medical coverage
Pairs with the Medical HSA Plan only
Pairs with any (or no) medical plan
If you initiate a qualifying event change and update your FSA goal, please keep in mind that the qualifying event update is only applicable to services that occur post the effective date of the change (even if you had an FSA election in place prior to the qualifying event).
A bit of careful planning can ensure you reap maximum FSA savings. Consider:
Then estimate the amounts that may not be reimbursed by the coverage you have chosen. Include deductibles, your share of coinsurance and any copayments. Remember FSAs are “Use It or Lose It”, so be conservative with the amount you estimate.
HealthEquity provides FSA calculators to help you calculate your savings:
To view some of the most frequently asked questions, please visit the FSA FAQs.
If you open a Health Care Flexible Spending Account (FSA) or Limited Purpose Health Care FSA, you will automatically receive a HealthEquity Healthcare Card that you can use at qualifying merchant locations to withdraw funds directly from your account(s). The HealthEquity Healthcare Card is accepted only at certain merchants, including physician offices, hospitals, dentist offices, pharmacies, mail-order prescription drug vendors, and hearing and vision care providers.
The card will also work at discount stores and grocery stores, provided the merchant has implemented the Inventory Information Approval System (IIAS), which is required by the IRS. The IIAS only allows eligible expenses to be purchased using your HealthEquity Healthcare Card at these merchants.
The HealthEquity Healthcare Card withdraws funds directly from your FSA account(s). You should retain receipts for all Health Care Flexible Spending Account (FSA) or Limited Purpose Health Care FSA expenses as the Company reserves the right to request them at any time.
You may also submit claims with the:
The Internal Revenue Service (IRS) regulates the tax advantages FSAs provide closely. Keep in mind the following rules in choosing and using FSAs:
For member and website support, call 1-877-924-3967. The customer service team is available Monday through Friday, 8 am to 8 pm ET.