Common use of Health Savings Account Clause in Contracts

Health Savings Account. For employees who are enrolled in a Health Savings Account (HSA)-Qualified High- Deductible Health Plan (HDHP), the County will contribute $700 per year for Employee Only and $1,400 per year for Employee plus dependent(s) to an HSA. Funds will be deposited through the County’s payroll process and sent directly to the County’s approved third party administrator (TPA), prorated over 26 pay periods. Employees can elect to make additional HSA contributions up to the IRS total combined (employer and employee contributions) HSA maximum contributions for single or family coverage. It is recommended that individuals limit the combined HSA contribution to stay within IRS requirements for prorating based on a partial calendar year HDHP enrollment in order to avoid tax penalties. Employees who are not enrolled in an HSA-Qualified HDHP or who participate in a flexible spending account as provided in Section 2.8 are not eligible for participation in an HSA under this section.

Health Savings Account. For employees who are enrolled in a Health Savings Account (HSA)-Qualified High- High-Deductible Health Plan (HDHP), the County will contribute $700 per year for Employee Only and $1,400 per year for Employee plus dependent(s) to an HSA. Funds will be deposited through the County’s payroll process and sent directly to the County’s approved third party administrator (TPA), prorated over 26 pay periods. Employees can elect to make additional HSA contributions up to the IRS total combined (employer and employee contributions) HSA maximum contributions for single or family coverage. It is recommended that individuals limit the combined HSA contribution to stay within IRS requirements for prorating based on a partial calendar year HDHP enrollment in order to avoid tax penalties. Employees who are not enrolled in an HSA-Qualified HDHP or who participate in a flexible spending account as provided in Section 2.8 are not eligible for participation in an HSA under this section.

Health Savings Account. For employees who are enrolled in a Health Savings Account (HSA)-Qualified High- Deductible Health Plan (HDHP), the County will contribute $700 per 700/year for Employee Only and $1,400 per 1,400/year for Employee plus dependent(s) to an a HSA. Funds will be deposited through the County’s payroll process and sent directly to the County’s approved third party administrator HSA Third Party Administrator (TPA), prorated over 26 pay periods. Employees can elect to make additional HSA contributions up to the IRS total combined (employer and employee contributions) HSA maximum contributions for single or family coverage. It is recommended that individuals limit the combined HSA contribution to stay within IRS requirements for prorating based on a partial calendar year HDHP enrollment in order to avoid tax penalties. Employees who are not enrolled in an a HSA-Qualified HDHP or who participate in a flexible spending account as provided in Section 2.8 2.8, are not eligible for participation in an HSA under this section.