HSA Highlights
Here's why we raise a glass to HSAs...
Your HSA, Your $
Your HSA funds are your money, always - even if you leave A-B!
Lower Taxes
We're all for you putting more money in your pocket - and funds you contribute to HSAs are typically income tax-free*!
Tax-free investment gains
Taxes can take a chunk out of your investment gains - but not with invested HSA funds!* Spending is also tax-free when used for Qualified Medical Expenses.
*That is, unless you live in NJ or CA, in which case you should consult with your financial advisor. If you withdraw your HSA funds for expenses that are not Qualified Medical Expenses, penalties may apply. We said "typically" tax-free.
Which A-B Medical plans can you pair an HSA with?
HSAs can be paired with the Basic and Standard Medical Plans if you meet the eligibility requirements.
What's the difference between an HSA and a FSA?
The biggest difference is that you can save HSA funds and should plan to spend Flexible Spending Account (FSA) contributions.
Unlike FSA funds, your HSA contributions are always yours and can grow tax-free if you choose to invest*.
How Do Limited FSAs and HSAs Work Together?
The only health-related FSA that you can combine with a Health Savings Account is a Limited Flexible Spending Account, which can only be used for dental or vision expenses. You may consider enrolling in an HSA and a LFSA if:
- You'll need your full LFSA contribution on 1/1 of next year for dental and vision expenses.
- You want to keep your HSA funds stashed away for the future, and still want to use pre-tax dollars to pay for dental or vision expenses.
If you choose to enroll in both accounts, make sure to use Limited FSA funds first. Learn more about pairing Limited FSAs with HSAs.
Need to Change your HSA Contribution?
You have the power to change your HSA contribution anytime throughout the year within the Benefits Portal.
Access the Benefits Portal through SSO or log in, click Life Events - I need to change my current benefits and then select Change in Health Savings Account.
Confirm the date and confirm your personal information. Once you reach the Select Your Benefits page, scroll down to the Health Savings Account benefit and hit Change.
Enter the amount you want to contribute, click Calculate Cost, then click I'm Done With My Selection. Click Save My Election and proceed through the life event flow until your updated elections are submitted.
If you need help, reach out to the HR Service Center at 800-952-7522.
Check out this resource to learn about how to verify your income and employment.
How do you update your HSA contribution?
If you're eligible, can you open a new HSA mid-year?
If you're already enrolled in the Basic or Standard medical plan, eligible for an HSA, and you previously chose not to enroll in an HSA, you can open one at any point in the year by contacting the HR Service Center at (800) 952-7522.
If you have an enrollment window and enroll in the Basic or Standard medical plan, you'll see HSA questions in the Benefits Portal. Eligible for an HSA? Awesome! Set your HSA contribution amount and submit your benefit elections.
Who should you contact if you need help with your HSA?
If you have questions about your current HSA account, reach out to HealthEquity 24/7/365 at 866-346-5800.
If you want to learn more about Health Savings Accounts in general, check out HealthEquity's Learn Site.
Who should you contact if you need help with your HSA?
How others benefit from the power of an HSA...
Starting your
CAREER
Building Your
SAVINGS
Investing for your
FUTURE
Savoring tax savings when
SPENDING
Your HSA $s are always yours, and starting early gives you a chance to grow HSA funds tax-free. HSA contributions aren't subject to Federal or FICA taxes, and contributions are are tax-deductible, which means they reduce taxable income.
If Joe spends $1,000 on qualified medical expenses in a year and has a 30% tax rate, paying with his HSA could save him $300 in annual taxes.
Here's how you use your HSA to pay for qualified medical expenses.
Sarah loves that HSAs offer him tax savings when he contributes to his HSA, tax-free spending on qualified medical expenses, and tax free growth once he has enough to invest. Those triple tax savings can add up fast if you save your HSA funds!
Sarah is a saver, so she chooses to pay cash for qualified medical expenses, save the receipts, let his invested HSA funds grow, then use her HSA funds to reimburse himself later on. He's careful to save his receipts for the future.
Once you have more than $1,000 in your HSA, you can start investing HSA funds, which unlocks your chance to have HSA funds grow tax-free. Learn more about investing HSAs here.
John wants to build his HSA nest egg for retirement, so he's maximizing every opportunity to unlock the power of you x us and earn rewards from A-B.
He completed AB Well Program activities, enrolled in the Basic medical plan and allocated excess Flex Credits to his HSA. First he maxed out her 401(k) match from A-B, then maxed out his allowable HSA contribution for the year. He had leftover funds after maxing out the HSA, so he decided to contribute more to his 401(k).
More Information:
Anheuser-Busch HealthEquity HSA Webinar
HSAs: Investing your HSA for Retirement Savings
How to Invest HSA Funds When Your Balance is Over $1,000
Spend, Save and Invest With an HSA
8 HSA Myths, Busted
Flexible Spending Accounts
*Anheuser-Busch does not guarantee (and therefore is not responsible for) any investment, legal, financial, and/or tax outcome(s) associated with your use of these resources. As a result, your use of any information provided in these resources is solely at your own risk. In addition, these resources are not intended in any way to be a substitute for the advice of your investment, legal, financial, and/or tax advisors or to be the basis of any specific financial planning activities. If you need investment, legal, financial, and/or tax advice, please consult with your advisor(s).
