Do I get an HSA if I enroll in the PPO?
No. Due to IRS regulations, the HSA is available only if you enroll in the HDHP with HSA. If you enroll in another medical plan, you can take advantage of the tax-advantaged Health Care Flexible Savings Account (FSA).
Does my HSA election roll over?
No. You must re-elect the HSA every year in order to receive Parkland’s contribution and make your own contributions.
Do HSA funds roll over from year to year?
Yes. Unlike an FSA, the HSA has no use-it-or-lose-it rule.
How much does Parkland contribute to the HSA?
Once your account is set up, Parkland will make contributions into your HSA each pay period. The maximum amount contributed each pay period is $19.24 for employee-only coverage and $38.47 for spouse/family coverage – that can add up to $500 to $1,000 per year depending on your coverage! You don’t have to add money of your own to receive Parkland’s contribution, but you must enroll in the HDHP with HSA to receive Parkland’s contribution.
Have more questions?
Take a look at these additional FAQs.
Get answers