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If you choose the STAR HSA Medical Plan you will automatically be enrolled in an HSA savings account. Canyonlands Care Center will contribute money to your account each pay period that you can use to pay for medical expenses. You can also contribute your own money into your HSA account up to the annual limits. This can be deducted from you paycheck and/or you can contribute directly during the year.

A Health Savings Account (HSA) is a tax advantaged savings account that you own and control.

HSAs are similar to retirement accounts in that funds rollover year-to-year, it is portable if you move jobs or retire, the balance can be invested in mutual funds, and there are survivor benefits.

The HSA Advantage
› It’s a Tax Saver
• Contributions are excluded from federal income tax
• Your money grows tax-free
• Withdrawals used to pay for qualified health care expenses are also tax-free
› Ownership: The money in your HSA is always yours. Unspent balances simply roll over from year to year until spent.
› Flexibility: You decide when and how much to contribute to your account.
› Portable: Your money stays put even if you change health plans or employers, or if you retire.

Who is eligible?
You must be enrolled in our qualified high deductible health plan (HDHP) and meet the following requirements:
› Have no other health insurance coverage except what’s permitted by the IRS
› Not be enrolled in Medicare
› Not be claimed as a dependent on someone else’s tax return

How much can I contribute to my HSA?
Each year the IRS establishes the maximum contribution limits (see the table below). These limits
are for the total funds contributed, including company contributions, your contributions and any other contributions. Please keep in mind you can change your HSA allocation at any time during the plan year.

2023
Self-Only: $3,850
Family: $7,750

Our Banking Partner
We have partnered with HealthEquity for HSA administration. For newly enrolled employees, your demographic data is transmitted to the bank upon electing our qualified HDHP. HealthEquity will mail you a welcome kit upon activating your account which will contain information about the bank and how to use the online banking features and your debit card. If you are an existing account holder, you will continue to use your same Health Savings Account which rolls over year after year.
Please use the same debit card you currently have. The bank will  automatically send you a new debit card approximately one month before your current card expires.