Health Savings Accounts (HSA)
Health Savings Accounts (HSA) offer a number of advantages. Use an HSA to pay your costs for current or future eligible healthcare expenses, such as doctor and hospital visits, prescriptions, vision and dental care, even eligible over-the-counter items. An HSA is available only when you elect the HDHP Medical Plan.
- You’ll receive a monthly HSA contribution from FirstFleet. (See the chart below.)
- HSA contributions always belong entirely to you—unlike Flexible Spending Account (FSA) contributions that are subject to “use it or lose it” forfeiture rules.
- HSA balances roll over from year to year.
- Your HSA funds are portable and go with you, even if you change companies or retire.
Triple Tax Advantage
- You can make contributions with pretax dollars, which reduces your taxable income.
- FirstFleet’s contributions to your HSA are also pre-tax.
- When you use HSA dollars for eligible expenses, they are tax-free.
- HSA funds can be invested and earn interest tax-free.
2023 Monthly FirstFleet HSA Contribution Amount
|Employee Only||$50 per month|
|Employee + Child(ren)||$90 per month|
|Employee + Spouse||$95 per month|
|Employee + Family||$110 per month|
PLEASE NOTE: If you elect to participate in the High Deductible Health Plan (HDHP) that comes with HSA participation, under Federal law, you are not permitted to have a Health Care FSA.