Health Savings Account

Health Savings Accounts (HSA), provided by the UMB, is a tax-advantaged health checking account that gives you the ability to save for future qualified medical, dental, or vision expenses and pay current expenses. It is individually owned and the account follows you should you retire or change employers. HSA contributions can be made by you through pre-tax payroll deductions and rollover each year.

To be eligible for an HSA you:

• Must be currently enrolled in an HSA-qualified health plan; CDHD
• May not be enrolled in any other non-HSA-qualified health plan
• May not be claimed as a dependent on another person’s tax return
• May not be enrolled in Medicare, Medicaid or Tricare
• Must not have used VA medical benefits in the past three months, with the exception of preventative services or treatment for a service-connected disability.

It is your responsibility to set up your HSA. Personal contributions will not be deducted until notification of an open, active account is received. Butler currently partners with UMB for all HSAs. To open an HSA account:

• Go to UMB
• Click on Enroll for a new HSA
• Enter the Enrollment Verification # THA001-143674

Online enrollment and access will allow you to view your account balance; reimburse yourself for medical expenses incurred without the debit card; download forms; and access a variety of other internal and external links to resources and tools to help you manage your HSA.

Butler will make a lump sum contribution into active HSA accounts annually.

• $750 for individual coverage
• $1,500 for family coverage

Employees hired after January 1 will receive a pro-rated contribution based on hire date.

Maximum contribution amounts, including Butler portion:

• $3,850 for individual coverage
• $7,750 for family coverage
• $1,000 additional catch-up contribution if age 55 or older
• You are responsible for ensuring you do not exceed IRS limits

Employee contributions into their HSA can be changes, started or stopped at any point throughout the plan year. To do so, please complete the HSA Change Request Form and submit to benefits@butler.edu.