Plan Administrator: iSolved Benefit Services
Health Savings Accounts ('HSA') allow for the establishment of individual non-taxable account to pay for expenses associated with certain types of healthcare expenses. This benefit offers employees the opportunity to have money deducted from payroll on a pre-tax basis for reimbursement of eligible medical, dental, and/or vision expenses.
Participation in the Health Savings Account is optional and available for benefits-eligible classified and management employees who are currently enrolled in the High Deductible Health Plan (Moda Medical Plan 6). Enrollment in the HSA is available year-round and changes to the employee contribution can be made at any time. Existing enrollments carry forward, uninterrupted, until changed.
All contributions made to the HSA account belong to the employee and unused dollars carry forward from one year to the next. Upon separation of employment, the unused funds in the HSA account do not get returned to the College. They remain available for future use to the former employee.
Healthcare Expense Reimbursement
Expenses incurred by the employee, spouse, or IRS dependent children that are not covered under a medical, dental, or vision plan. Examples: co-pay, co-insurance, deductible.
Upon election of the HSA, eligible expenses can be paid using the iSolved Benefit Services provided Benefits Card, by submitting a claim reimbursement request through the iSolved Benefit Services portal, or by submitting a claim reimbursement request through the iFlex smartphone app. Reimbursement will be made by check or direct deposit.
2022 Annual Maximum Contribution Amounts
- Employee Only - $3650
- Family - $7300
- Annual "catch-up" contribution for those at least 55 years of age - $1000 additional
2023 Annual Maximum Contribution Amounts
- Employee Only - $3850
- Family - $7750
- Annual "catch up" contribution for those at least 55 years of age - $1000 additional
Annual College Contribution
The College contribution toward an HSA account applies toward the IRS maximum. Employee annual contributions should be limited to the annual contribution maximum less the College contribution.
Contribution levels are based on health insurance enrollment tiers as follows:
- Employee Only - $800
- Family - $1700
For online access to your Section 125 account, log on to iSolved Benefit Services.
Request for Reimbursement forms, for healthcare expense claims, can be submitted using any of the following methods:
- Email: firstname.lastname@example.org
- Mobile App: iSolved Benefit Services iFlex
- Online Portal: iSolved Portal
Health Savings Account w/ Flexible Spending Account
Employees may not participate in both the HSA and the healthcare FSA; however, participation in the HSA and the dependent care FSA is permitted. See the Section 125 page for more information on the dependent care FSA.