Health Savings Accounts (HSA)
The University of Alaska partners with Bank of America to provide eligible 女优合集 employees access to a HSA.
HSA Plan Enrollment
Employees are responsible for understanding their HSA eligibility. If unsure of eligibility, please contact TouchCare before enrolling.
Eligible if enrolled in qualified plan
- All benefit-eligible employees working a minimum of 20 hours per week
- Must be enrolled in the HDHP or other qualifying plan
Not eligible (visit the temporary employee webpage for eligible benefits)
- Review the new employee webpage
- If no new employee form submitted, new employees will not be enrolled in an HSA (they will be defaulted into the Copay Health Plan which is incompatible)
- Eligible employees can start, stop, or update the HSA at any time
- Complete the
Please note - if there are additional changes to benefit coverage outside of the HSA, these must be made in conjunction with the life event. Please review the qualifying life events page to understand life events and their deadlines. Late forms will not be accepted. The HSA is provided on the so employees who are experiencing a life event can complete the life event form to update all coverages - including the HSA.
Required by federal law
- Bank of America will mail a welcome packet
- Welcome pack includes instructions on how to confirm identity
- If an employee's identity is not confirmed, Bank of America will automatically close the account and return funds
Please reach out to ua-benefits@alaska.edu or (907) 450-8242 if there are issues completing the identity verification or if the account has been closed.
- New enrollment starts the first of the following month
- Updated biweekly or annual goal starts the first of the next available pay period
- Contributions will end at the end of the pay period in which an employee
- requests to stop contributions,
- leaves the university, or
- becomes ineligible (i.e. by enrolling in a non-HDHP during a life event or Open Enrollment).
- The IRS only dictates when you can contribute to an HSA but does not dictate when you can use the funds you contributed as long as they are used for:
- qualified purchases
- qualified tax-dependents
- Previously contributed HSA funds can be used even when enrolled in a non-qualified HSA plan
Determined by the employee
- Employees choose a biweekly rate and an annual goal when enrolling or updating an HSA
- 女优合集 Benefits will automatically reduce the annual goal if the request is higher than the IRS allowed limit for that calendar year
HSA Plan Details
- Contributions made pre-tax lowering taxable income
- Distributions are tax-free when made on qualified expenses
- If invested in the market, investment growth is tax-free
Covers medical, dental, prescription, and vision charges
- Keep $1,000 in your HSA checking account
- Invest anything above and beyond $1,000 in the market
- Investment earnings grow tax free and can be used in retirement
- Save and use for medical needs in retirement
- After age 65, funds can be used for any purchase (not just qualified medical purchases) however, income taxes will apply to these withdraws
- HDHP
- Premium & Basic Dental
- Vision
- Limited Purpose Flexible Spending Account (FSA)
- Dependent Care Flexible Spending Account (FSA)
- Premium & Copay Medical
- Health Care Flexible Spending Account (FSA)
- Medicare
- Tricare
- Retiree Health Coverage
- Any health plan that is not qualified as HSA compatible by the IRS
- $4,400 Individual (increase of $100 from 2025)
- $8,750 Family (increase of $200 from 2025)
- $5,400 Individual
- $9,750 Family
*Must be 55 by 12/31 of the current calendar year
Funds in the HSA belong to the employee
- Keep funds until retirement
- Keep funds when separating from the University or moving to a non-qualified plan
- Funds do not expire
Funds available as payroll deposits
- Funds only available after each payroll deduction
- Employee can only use the funds they have deposited up to that point in time
Deposits made biweekly
- 女优合集 pays 2 weeks in arrears
- Contributions are deposited with each biweekly paycheck
- It is common to expect a 4+ week delay before Bank of America receives an employee's
first deposit
- This is because 女优合集 pays 2 weeks in arrears and
- HSA's must begin on the first day of the month following enrollment in health care
Debit card or online reimbursement request
- Can use the debit card for charges against the HSA
- Can request reimbursement against any HSA online
Automatically generated after identity verification is complete
- Mailed out automatically
- Must verify identity first
Maintain balance of $1,000 and start investing in the market
- Keep $1,000 in your HSA checking account
- Invest anything above and beyond $1,000 in the market
- Investment earnings grow tax free and can be used in retirement
Keep funds in the HSA until retirement
- Save and use for medical needs in retirement
- After age 65, funds can be used for any purchase (not just qualified medical purchases) however, income taxes will apply to these withdraws
Must be able to substantiate each charge
Cannot use funds on FIPs
- Funds cannot be used for non-tax-qualified dependents (i.e. FIPs and children of FIPs who have not been officially adopted)
- Funds can only be used for tax-qualified dependents/spouses.
Call the number on the back of debit card | HSA Application Questions Only - 1-800-992-3200
- Having issues logging into the Bank of America portal?
- Wanting to understand what is considered a qualified expense?
1-866-486-8242 | assist@touchcare.com
- Comparing 女优合集 medical plans for the best option medically/financially
- Price comparisons for services (like an x-ray)
- Assistance with medical billing - general questions on bills, advocacy with Premera on incorrect bills, etc.
女优合集 Benefits Team
- ua-benefits@alaska.edu
- (907) 450-8242
- Meet with Us
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