Health Savings Account (HSA)

New for 2017
The maximum individual contribution increased from $3,350 to $3,400. The maximum family contribution of $6,750 remains the same. In addition, all HSA accounts will be subject to a $2 monthly administrative fee beginning January 1, 2017.

You have access to a Health Savings Account (HSA) if you are enrolled in the HDHP or the HDHP Plus option.

What’s an HSA?

An HSA is a savings account that that allows you to pay for eligible health care expenses with tax-free dollars. You own your HSA and the money is yours to keep, even if you change jobs or retire. You can enjoy the benefits of an HSA, including a matching contribution from Ardent, when you enroll in a High Deductible Health Plan (HDHP) and establish an HSA with WageWorks.

HSA eligibility

  • You must have coverage under a qualifying HDHP.
  • You can’t participate in another health plan that’s not a qualifying HDHP, such as your spouse’s plan. Neither you nor your spouse can participate in a Health Care Flexible Spending Account (FSA), but you can participate in a Limited-Purpose FSA for vision and dental expenses only.
  • If you're 65 or older or eligible to receive Medicare, you cannot contribute to an HSA, and Ardent cannot make a contribution on your behalf.
  • You can’t be eligible to be claimed as a dependent on someone else’s tax return.

How does the HSA work with the HDHP plan? 

It’s as easy as 1, 2, 3!

  1. First, pay the full discounted cost of care (at in-network providers) until you meet your deductible. Your contributions + Ardent’s matching contributions to your HSA can help you pay for that. Plus, preventive care is always covered 100 percent in-network, so you don't need to use your HSA dollars for these important services. 
  2. Then, you and the plan share costs. The plan pays 80 percent of your medical expenses and you pay 20 percent until you reach your out-of-pocket maximum.
  3. After you've reached your deductible and maximum out-of-pocket limit, the plan covers the rest!

HSA contributions

In 2017, you can contribute up to $3,400 for individual coverage and up to $6,750 for family coverage into an HSA. This includes contributions from you and Ardent.

There are several ways to contribute:

  • You can elect pre-tax contributions through paycheck deductions when you enroll at www.getardentbenefits.com/enroll or by calling benefitsolver at 844-411-4780. These contributions go into your account before taxes are withheld, lowering your taxable income. 
  • You, or your friends and family, can make after-tax, lump-sum contributions by transferring money from another bank account or mailing a check directly to UMB Bank, the custodian of the account. Contributions are tax deductible.
  • If you’re age 55 or older, you can contribute an additional $1,000 in catch-up contributions.

Matching contribution from Ardent

When you enroll in the HDHP medical plan and open an HSA, Ardent will match your contributions, up to $400 for Employee-Only coverage and up to $800 for Employee + Spouse, Child(ren) or Family coverage.

It’s flexible

Use it now or save it for later. You decide how and when to use your HSA dollars—now, in the future or during retirement. Your money rolls over each year, and there is no limit to how high your account balance can grow.

Three ways to save on taxes

  • Tax-free deposits—the money you contribute isn’t taxed, up to the IRS limit.
  • Tax-free earnings—your interest and investment earnings aren’t subject to income taxes.
  • Tax-free withdrawals—money used toward eligible health care expenses isn’t taxed, now, or in the future. 

Ready to enroll?

Here’s what you need to do to enroll in the HSA:

Step 1: Enroll in the HDHP and elect your pre-tax HSA contribution at www.getardentbenefits.com/enroll or by calling benefitsolver at 844-411-4780. Because you’re opening a bank account by electing the HSA, you’ll be required to accept the BNY Mellon (our HSA custodian bank) terms & conditions during the enrollment process. You’ll also be asked to enter the email address you’d like to use with your HSA.

Step 2: Your information will be sent to WageWorks and your HSA account will be opened. Your contributions will be deducted beginning on the first payroll after your medical coverage is effective. The matching Ardent contribution will be sent at the same time as your first HSA deduction. If there is any additional documentation required, you will receive an email with details requesting the documentation. If you do not respond within 90 days, your account will not be opened & any contributions will be returned. 

Step 3: That’s it! You’ll receive a welcome packet from BNY Mellon once your Health Savings Account (HSA) has been activated. This generally takes five to seven days. Remember, this is an account that you own even if you change jobs or retire.

Managing your account

You can access your HSA funds through the WageWorks Healthcare Card to pay for eligible expenses, such as your deductible, copays or coinsurance for doctor visits or prescription medications. A full list of eligible expenses is available at www.wageworks.com. Beginning January 1, 2017, all HSA accounts will be subject to a $2 monthly administrative fee.

Once you’re enrolled, access your account anytime at www.wageworks.com.