CSC Core Access HDHP

Access to care providers with no referrals required.

The Health Savings Account

When you elect the CSC Core Access HDHP (in-area or out-of-area), you have the option of enrolling in the Health Savings Account (HSA). This is a tax-favored account, set up for you by Aetna, which you can use to help pay current qualified medical expenses or save for future expenses.

JPMorgan Chase will need to confirm some personal information (such as your legal name, address, birth date and Social Security number) before opening your account. Once this is done, you will receive a welcome kit with your HSA Visa® debit card and information on using your account.

Here’s how the HSA works . . .

Contributions
CSC contributes to your Health Savings Account and you can, too. If you enroll in the HSA offered through CSC, CSC will deposit $200 to your HSA when your first payroll deduction is taken. You set a contribution amount – to be payroll-deducted on a pre-tax basis – when you enroll in the HSA. The minimum you elect to contribute is $200 annually. You may contribute up to $3,100 annually if you elect single medical coverage or up to $6,250 if you elect family medical coverage, minus the CSC contribution.

Tax advantages
Your contributions are deducted from your pay before taxes are withheld. This lowers your taxable income, so you pay less in income tax. In addition, account interest and withdrawals are not taxed.

Growing your account
With an HSA, there is no “use it or lose it” rule. Your account balance rolls over from year to year and earns interest. When it reaches $2,000, you can choose from among a range investments offered by JPMorgan Chase. Learn more.

Using your account
You may use your HSA Visa debit card (included with your welcome kit) to pay qualified medical expenses. Electronic Funds Transfer (EFT) and Online Bill Payment (OBP) are also available. You may also choose to pay expenses out of your own pocket and let your account grow for future needs.

Portability
You own your HSA. If you leave your job or move, your account goes with you. You may continue to contribute to your account as long as you are enrolled in a high-deductible health plan.

Health Care Flexible Spending Account or Health Savings Account?
Because tax advantages overlap for these two types of accounts, you must choose one or the other. Enrollment in the CSC Core Access HDHP is mandatory if you wish to enroll in the HSA. If you have an HSA, Internal Revenue Service regulations state that you may not elect to participate in the Health Care FSA. However, you may still enroll in the Dependent Care FSA.

What is a “qualified medical expense?”
Qualified medical expenses are defined by IRS Code 213(d). Examples include your medical plan deductible, dental care, certain over-the-counter items, hearing aids, birth control pills, wheelchairs and contact lenses.For a complete list (IRS Publication 502), call 1-800-829-3676 or visit www.irs.gov and click on “Forms and Publications.”