2019 Health Savings Accounts
If you elect to enroll in the PPO Savings Plan, a Health Savings Account (HSA) automatically is opened on your behalf through HealthEquity. Funds to this account are contributed on a tax-free basis and can be used for eligible health expenses. Unlike the Health Care Flexible Spending Account (FSA), the funds rollover from year-to-year and are yours to use, even if you leave the University.
The contribution limits for 2019 are:
- $3,500 for Individual coverage
- $7,000 for Family coverage
To help get you started, Penn State contributes "seed" money into your account after your first January 2019 pay cycle.
For 2019, the seed money is as follows:
|Salary||Coverage||Penn State Contribution|
|$45,000 or less||Individual||$800|
|$45,001 - $60,000||Individual||$600|
|$60,001 - $90,000||Individual||$400|
|More than $90,000||Individual||$200|
For questions, contact HealthEquity at 1-866-346-5800.