How an Health Savings Account (HSA) Works

A Health Saving Account (HSA) is a tax-exempt savings account that pays for an employee's and his or her dependents' qualified medical expenses. When you enroll in the HSA Premier Plan, Hospira will make contributions to your HSA every time you are paid. In addition, Hospira will deposit any Wellness Reward Dollars you earn into your HSA. You may also make tax-free contributions. These contributions roll over from year to year and can be invested once you meet a minimum threshold. You decide how much to contribute, so long as your contributions, combined with those from Hospira, don't exceed the federal maximum. The HSA is portable, so even if you change jobs, medical coverage or make other life changes, the account is yours to keep.

For more information, tools and resources about Health Savings Accounts contact Discovery Benefits.

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