Health Savings Account FAQs2021-07-18T04:26:48+00:00
Why would I use a Health Savings Account (HSA)?2017-04-17T23:52:50+00:00

Three popular features of an HSA are:

  • It’s flexible – you can use the money now to pay for eligible medical expenses or let the balance grow for future expenses.
  • There’s no “use it or lose it” rule like a Flexible Spending Account – your unused balance rolls forward every year.
  • The money is yours to keep – you can take any unused balance with you when you leave the company.
Who is eligible to have a Health Savings Account (HSA)?2017-04-17T23:52:43+00:00

You are eligible to elect an HSA if you are enrolled in an Ensign medical plan. There are a few restrictions that apply to HSA eligibility:

  • You must not be covered by other health insurance
  • You must not be enrolled in Medicare Part A or B
  • You are not listed as a dependent on someone else’s tax return
  • Your spouse cannot be enrolled in a Health Care Flexible Spending Account through his or her employer
Do I have to add a Health Savings Account (HSA) contribution amount?2024-07-06T01:10:11+00:00

When you enroll in Medical coverage and elect to open an HSA, you do not have to contribute any money at that time. You can, however, change that contribution time at any point.

In 2024, the HSA limit (the maximum amount you can contribute) is $4,150 for employee-only coverage and $8,300 for family coverage. If you are age 55 or older in 2024, you can contribute an additional $1,000 to your HSA.

How do I change my HSA Contribution?2024-12-24T21:06:37+00:00

  1. Log into Workday and click on the Benefits & Pay icon at the Home Page or the Menu at the top right corner of the screen.
  2. Within the Overview section, click the Change Benefits button under Tasks and Reports.
  3. Change Reason: Select Change HSA Contribution.
    Benefit Event Date: Enter TODAY’S DATE.
    Click SUBMIT.
  4. In your Workday inbox, select the Change HSA Contribution task and click Let’s Get Started.
  5. Click Manage on the Health Savings Account (Fidelity) tile. If it’s not already selected, select it and click Confirm and Continue.
  6. Update your Per Paycheck or Annual Contribution amount and click the Save button at the bottom.
  7. Click Review and Sign at the bottom.
  8. Read the Legal Notice, check the I Agree box, and click SUBMIT to finalize.

This request will go to the HR Services team for approval.

Important: Elections can only be approved with an event date within the current pay period.

Can I use the HSA for expenses for my spouse or children even if they are not enrolled in my Ensign medical plan?2017-04-17T23:54:01+00:00

The money in your HSA can be used to pay for eligible health care expenses of any family member who qualifies as a dependent on your income tax returns.

For more information about HSAs, click here.

For more information about HSAs, click here.

Go to Top