Health Savings Accounts
What is a Health Savings Account (“HSA”)?
A UBI Health Savings Account is an alternative to traditional health insurance; it is a savings product that offers a different way for consumers to pay for their health care. HSA's enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis.You must be covered by a HDHP to be able deposit money into an HSA. Once deposited money in the account can be used for medical cost whether you are covered by a HDHP or not. An HDHP generally costs less than what traditional health care coverage costs, so the money that you save on insurance can therefore be put into the Health Savings Account.
You own and you control the money in your HSA. Decisions on how to spend the money are made by you without relying on a third party or a health insurer.
Contribution and Out-of-Pocket Limits for Health Savings Accounts and High-Deductible Health Plans
| intentionally empty table head | 2025 | 2024 | Change |
|---|---|---|---|
| HSA contribution limit (employer + employee) |
Self-only: $4,300 Family: $8,550 |
Self-only: $4,150 Family: $8,300 |
Self: +$150 Family: +$250 |
| HSA catch-up contributions (age 55 or older)* | $1,000 | $1,000 | No Change |
| HDHP minimum deductibles |
Self-only: $1,600 Family: $3,200 |
Self-only: $1,500 Family: $3,000 |
Self: +$100 Family: +$200 |
|
HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums) |
Self-only: $8,050 Family: $16,100 |
Self-only: $7,500 Family: $15,000 |
Self: +$550 Family: +$1,100 |
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* Catch-up contributions can be made during the year by HSA-eligible participants who will turn 55 by year-end. ** Unlike other limits, the HSA catch-up contribution amount is not indexed; any increase would require statutory change. Contributions for a given year may be made until the individual's federal tax return due date for that year, without extensions, in which case the HSA administrator must indicate that post-yearend contributions are attributed to the prior calendar year. |
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Health Savings Accounts FAQ
