Health Savings Accounts (HSAs)

Use in conjunction with “Best Value” high deductible health plans (HDHP) only.

  • Tax-advantaged account established to pay for qualified health care expenses (current and future)
  • Funds go in before tax, fund accruals are tax free and if funds are used for qualified health care expenses you never pay tax
  • 2024 Contribution Limits: $4,150 individual / $8,300 family (all tiers); $1,000 catch-up contribution for 55 and older
  • College contributes to HSA (in January): $500 per individual and $1,000 per family (all tiers). College HSA contribution amounts are pro-rated for mid-year enrollments. 
  • Account is individually owned and full portable – it’s your money!
  • Unused funds are carried over from year-to-year – no “use it or lose it”!
  • Flexibility to manage your HSA funds: increase, decrease or stop your contributions at any time throughout the year – including ability to “pre-load” at the start of the year. Use the HSA Election/Change Form below to update your contribution amount.
  • HSA account is managed in your Net Benefits account with Fidelity. www.netbenefits.com/holycross
  • HSA Presentation
  • HSA Election/Change Form
  • Guide to Understanding Your HSA