Health Savings Account

Health Savings Accounts, or HSAs, are your path to tax-smart healthcare savings. Understanding how your HSA works equips you with the knowledge you need to maintain and improve your health and financial well-being.

What is an HSA?

A health savings account, commonly called an HSA, is a bank account that helps you pay for your healthcare expenses now and into your retirement years. All contributions into this account are pre-tax and yours to keep, and your balance rolls over from year to year.

HSA Eligibility

You are eligible to contribute to an HSA if you are enrolled in the HDHP plan. You may not fund an HSA if:
  • You are enrolled in a non-HSA-eligible medical plan (e.g., your spouse’s PPO plan) or a health care FSA
  • You are claimed as a dependent on someone else’s tax return
  • You are enrolled in Medicare, TRICARE, TRICARE for Life or Native/Tribal Health Services
  • You have received Veterans Administration benefits in the previous three months, unless you received treatment for a condition that was/is related to your service
    • Additional rules apply. Please see IRS Publication 969 for more information.

Save, spend, or invest your money.

SAVE You own your HSA and the money in your HSA is always yours (until you spend it, of course). Even if you change medical plans or jobs in the future, any money in your HSA is yours to keep.

SPEND You can use your HSA dollars to pay for most medical, dental, and vision expenses. HSA dollars can even be used to pay for eligible expenses for your spouse and dependent children, even if they are not covered by the Health Equity medical plan. You won’t pay taxes when you spend your HSA dollars unless you use them for non-health-related, ineligible expenses. A list of eligible expenses is available at www.healthequity.com.

INVEST Once your account balance meets the minimum threshold established by your account administrator, you can choose to invest that money in mutual funds. The best part is that the money you invest grows tax free! When you turn age 65, your HSA dollars can be spent, without penalty, on any expense (taxes apply).

An HSA is easy to use:

  • If you enroll in the Cigna HDHP Medical Plan, an HSA will automatically be opened for you. Account information will be mailed to your home.
  • There is no cost for you to open an HSA.
  • Monthly account admin fees are paid by MainVue Homes.

MainVue Homes will help you start saving!

If you enroll in the Health Equity HDHP, MainVue Homes will help you start saving for your health care by contributing money to your HSA.

MainVue Homes’s contribution is based on your medical plan coverage level:
  • Employee only: $1,600 annually
  • Employees + Family: $1,600 annually

Please note: you will only have access to funds that are deposited to your account. Additionally, you may elect to put additional money into your HSA from your paycheck on a tax-free basis.

Contribute up to the IRS Limits
Contributions to an HSA (including the MainVue Homes’s contribution) cannot exceed the annual IRS contribution limits.

2025 IRS maximum contributions are:
Employee-only coverage: $4,300
All other coverage tiers: $8,550

Employees age 55+ by December 31 may contribute an additional$1,000 catch-up contribution to their HSA.