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HEALTH SAVINGS ACCOUNT 2018

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A tax-free¹, individually owned savings account you use to pay for qualified medical expenses.

Eligibility

  • All benefits-eligible Faculty, Exempt, Non-Exempt, SEIU and RAB employees who elect the High Deductible Health Plan and who are:
    • NOT a Research Fellow or a J-VISA holder.
    • NOT enrolled in Medicare, Medicaid or any other type health insurance that is not a qualified HDHP.
    • NOT a patient of Dartmouth Health Connect.
    • NOT being claimed as a dependent on another person's tax return.
    • NOT eligible to receive medical-expense reimbursement under a general-purpose health care FSA of a spouse or a parent.

Key benefits of an HSA

  • You can increase or decrease your annual contribution amount any time during the plan year.
  • You never pay taxes on your HSA contributions – the account even earns tax-free interest. Tax reporting is minimal.
  • You have the option of using a Fidelity provided debit card, checkbook, or you may submit claims manually.
  • When you use the account, your HSA dollars will count toward your annual deductible and out-of-pocket maximums.
  • You can take your HSA with you when you leave the plan, change jobs or retire.
  • Administration is easier with no stressful submission or substantiation deadlines.
  • The Dartmouth contribution to your HSA account is front loaded and can be used once your account has been activated. Your contribution is eligible for withdrawal as soon as it is contributed.

Other Considerations

  • Payments are not automatic. You decide when and how to use the money in your HSA account. Spend it during the year, save it for the future or open an investment account.
  • Consider consulting a tax professional when contributing to a Health Savings Account.
  • If you will be Medicare eligible in 2018, please see the HSA & Medicare enrollment section of our website.
¹ HSA contributions and earnings are not subject to federal taxes and not subject to state taxes in most states. A few states do not allow pre-tax treatment of contributions and earnings. Contact your tax advisor for details on your specific location.

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Plan Summary

Health Savings Account Summary

 

How your HRA Plan Works

How your HSA plan works

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Last Updated: 9/28/17