Health Savings Accounts - 2020

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.

To help get you started, Penn State contributes "seed" money into your account in January.

Health Savings Account Seed Money 2020
Salary Penn State Contribution/Coverage
$45,000 or less $800/Individual
$45,000.01 - $60,000 $600/Individual
$60,000.01 - $90,000 $400/Individual
$90,000.01 or more $200/Individual
2020 Contribution Maximums (IRS Limits)
Coverage Level

Annual Maximum

(Include PSU seed money in the annual maximum)

Individual $3,550
Family $7,100