Health Savings Account
You can save money on healthcare 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..
HSA | Limited Purpose Health Care FSA | Health Care FSA | Dependent Care FSA | |
---|---|---|---|---|
Available with … | Aetna Saver Plan | Aetna Saver Plan |
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Who administers the plan | HealthEquity | Navia Benefits | Navia Benefits | Navia Benefits |
Receive company contribution | $400 Employee/$800 Family | 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 healthcare expenses | Only dental and vision expenses until you meet the IRS-required deductible, then use for all eligible healthcare expenses | All eligible healthcare 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 | All unused amounts may be carried over to the next plan year for 2021 only | ||
Money is always yours to keep | Yes | No | No | No |
Access to a debit card | Yes | Yes | Yes | Yes |
Employees in the Aetna Saver Plan can open and contribute money to a Health Savings Account (HSA) through HealthEquity. The HSA is a tax-free savings account that you can use to pay for eligible health expenses anytime, even in retirement.
Informatica contributes to your account and you can contribute through convenient payroll deductions. In addition, if you already have an HSA account at another institution, you can transfer those funds into your HealthEquity account at Informatica.
Put money in tax-free.
Get company contributions.
Carry unused money over.
Pay for care tax-free.
The total amount you and Informatica can contribute to your HSA this year is:
Add $1,000 to these limits if you’re age 55 or older.
Increase your tax savings with a Limited Purpose FSA. Use your HSA together with the Limited Purpose Health Care 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 goes in tax free for federal taxes (state income taxes may apply in some states), builds earnings tax free, and comes out tax free when used on eligible expenses.*
*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 CDHP. If you’re enrolled and haven’t opened an HSA yet, visit HealthEquity to open your account. If you’re not enrolled in the CDHP, you may enroll during the next Open Enrollment period.
A married couple is expected 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, Informatica’s 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.
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 Navia Benefit Solutions website.
Pairs with the Aetna PPO Plan and Kaiser HMO (CA Only) only; also available if you waive Informatica medical coverage.
Pairs with the Aetna Saver Plan only.
Pairs with any (or no) medical plan.