Health Savings Account (HSA)
To elect an HSA plan you must enroll in a High Deductible Medical Plan. A Health Savings Account (HSA) is an account established under Section 223 for the purpose of paying qualified medical expenses incurred by the account holder and dependents. HSA’s allow employees to make tax-free payroll contribution to the plan to pay for certain out-of-pocket medical expense.
Plan Features
Everything You’ll Need to Know
The High Deductible Health Plans (HDHPs) Longbridge Financial will be offering in the 2024-2025 plan year will all be HSA-eligible (this includes HDHPs under both CIGNA and Kaiser). Should you elect an HSA-eligible HDHP for the upcoming plan year, you will be able to open an HSA account through Optum Financial (if you do not already have one) and begin contributing pre-tax dollars into this account starting 9/1/24.