Health Savings Account (HSA)

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A Health Savings Account (HSA) is an individually owned, personal health care savings account that you can use to pay out of pocket healthcare expenses with pre-tax dollars.  Your contributions are tax-free and the money remains in the account for you to spend on eligible expenses no matter where you work or how long it stays in the account. Complete the HSA Enrollment & Change Form to open or make changes to a HSA.

For the 2018 Benefit Year, the City of Richardson will contribute $750 for single coverage and $1,500 for Employee + Spouse; Employee + Children; Employee + Family for the year.  You can also elect at open enrollment to make your own additional contributions.  Additional information on HSAs can be reviewed in the Employee Benefits Handbook beginning on page 10, HSA Handout, and HSA Presentation.

HSA Eligibility:

  • Must be enrolled in a High Deductible Health (HDHP) / HSA Plan.
  • You are not covered by another health plan (unless it is HSA-qualified plan).
  • You are not eligible to be claimed as a dependent on someone else's tax return.
  • You are not enrolled in Medicare or TRICARE for Life.

**If you are enrolled in an HSA, Flexible Spending Account (FSA) funds can only be used for Dental and Vision Expenses.**

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