frequently asked questions
General
How do I enroll for benefits?
Enrolling in the company benefits is easy as 1-2-3! When you are ready to enroll in the various benefit plans, login and complete the online forms.
Click Here to begin the enrollment process.
When will my benefits start?
If you are benefits-eligible and enroll as a new employee during the initial enrollment period, your coverage begins on the first of the month following your date of hire.
When can I make changes to my benefits?
The benefit choices you make upon initial enrollment or during the annual open enrollment period will remain in place until the next Open Enrollment or change in family status, also known as a qualifying event. These qualifying events include:
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Marriage
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Divorce or legal separation
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Birth or adoption
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Child reaches age limit
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Change in spousal employment status
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Death
Should one of these events apply to you, it is your responsibility to contact Human Resources within 30 days to ensure continued coverage for those who are eligible. You have 30 days from the date of the qualifying event to submit the corresponding changes to your benefits.
HSA
What is an HSA?
An “HSA”, or Health Savings Account, is like a 401(k) for healthcare. This pre-tax benefit account, paired with your qualified high-deductible health plan, is used to pay for eligible out-of-pocket medical, dental, and vision expenses. You can earn interest on the money in your account and invest it so that it grows over time. An HSA works like a Healthcare Flexible Spending Account (FSA), except that the money in your account is yours even if you leave your company or if you have money left over at the end of the plan year.
How do I qualify for an HSA?
To qualify and be eligible to make contributions into an HSA, you must meet all of the following conditions:
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You must be covered by a qualified high-deductible health plan. Ask your employer for details on coverage under your company’s high-deductible health plan.
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You cannot be enrolled in another type of pre-tax healthcare benefit account, such as a Healthcare Flexible Spending Account (FSA) or a Health Reimbursement Arrangement (HRA). This includes being enrolled in your spouse’s Healthcare FSA or HRA. You can, however, be enrolled in an HSA-Compatible FSA, which becomes a regular Healthcare FSA once you meet your deductible.
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You cannot be claimed as a dependent on another person’s tax return.
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You are not entitled to benefits under Medicare.
How do I fund my HSA?
There are two ways to fund your HSA:
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Pre-Tax through automatic payroll deductions. During pMD's Open Enrollment period, complete the HSA contribution through the benefits administration system, Maxwell Health. Your deductions will be deducted (in equal portions) from your paychecks, before taxes are deducted, throughout the plan year.
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Post-Tax through direct contributions. You can contribute additional funds to your HSA at any time, subject to the annual contribution maximum. While these contributions aren’t tax-free, they can be deducted on your tax return.
How much can I contribute to my HSA?
For 2025, the annual contribution limits are: $4,300 for an individual HDHP policy and $8,5500 for a family HDHP policy. Exception: If you are age 55 or older as of December 31, 2024, you may contribute an extra $1,000 as a catch-up deduction under both individual and family policy coverage for 2024.
For 2024, the annual contribution limits are: $4,150 for an individual HDHP policy and $8,300 for a family HDHP policy. Exception: If you are age 55 or older as of December 31, 2023, you may contribute an extra $1,000 as a catch-up deduction under both individual and family policy coverage for 2023.
These limits are set by the IRS and may change year to year.
Is the total election amount available in my HSA on day one of the plan year, like a healthcare FSA?
Unlike a Healthcare FSA, the funds in your HSA must accumulate in your account before you can use them. You can easily monitor your balance on your HSA bank’s website and you should receive monthly statements as well.
How do I make additional contributions to my HSA?
There are two ways to make additional contributions to your HSA.
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Electronic deposit. The easiest and fastest way is to make an electronic deposit to your HSA.
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Check deposit. Ask your HR representative for an HSA Contribution Form, and mail the form along with a check to the HSA bank.
Alternatively, you may simply note the following information on your check and mail it to the bank:
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The tax year of your contribution (between January 1 and April 15, you can make a current or prior year contribution.)
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Your account number
What is a catch-up contribution?
Eligible individuals who are age 55 or over as of December 31, 2024 are allowed to make additional “catch-up” contributions to their HSAs. The catch-up contribution is set by the IRS and the limit for 2024 is $1,000.
Can both spouses make a catch-up contribution?
Yes; however, the catch-up contribution cannot be combined and put into one HSA: each spouse must open an HSA and put the catch-up amount into his/her own respective HSA account.
Can I contribute to my HSA if I am age 65 and covered under an HDHP?
Yes, you can contribute to your HSA as long as you are an eligible individual and have not enrolled in Medicare Part A, B, or D. Once you enroll in Medicare you may no longer contribute to your HSA.
For example, if you enroll in Medicare on July 21, you are no longer eligible to contribute to an HSA as of July 1. Your maximum contribution for that year would be for 6 months of that year (you were eligible the first six months of the year.) Remember to also include ½ of the catch-up amount for that year.
If you turn age 65 and are still working and are not enrolled in Medicare, you are still eligible to contribute to your HSA, including the catch-up amount.
What if I enroll in an HSA and HDHP in the middle of the year?
If you enroll in a qualified HDHP midyear,* you may still make the maximum annual contribution into your HSA. However, you must remain enrolled in the plan until the end of the following calendar year in order to avoid potential tax issues.
* You need to enroll in a qualified HDHP prior to December 1.
– See more at: https://www.irs.gov
What is the deadline to make my HSA contributions?
You may contribute to your HSA until your tax filing due date (for most people, that date is April 15 of the year following the tax year).
What kinds of expenses are covered by an HSA?
You’d be surprised by how many different kinds of expenses are covered under an HSA.
In general, you can use your HSA to pay for any qualified medical expense. Qualified medical expenses are defined by the IRS and include medical care, dental and vision care expenses, prescription drugs, and payments for long-term care services and insurance.
An HSA may reimburse certain types of insurance premiums, such as COBRA continuation, or any health insurance plan maintained while receiving unemployment compensation under federal or state law for the HSA holder or for his/her spouse or dependents. If you have an HSA and are age 65 or older (whether or not you’re entitled to Medicare), you may use your HSA to pay for any deductible health insurance, such as retiree medical coverage other than a Medicare supplemental policy.
– See more at https://www.irs.gov
Can I use my HSA to pay for health insurance premiums?
Generally, you cannot treat insurance premiums as qualified medical expenses unless the premiums are for:
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Long-term care insurance, subject to IRS mandated limits based on age and adjusted annually.
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Healthcare continuation coverage (such as coverage under COBRA).
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Healthcare coverage while receiving unemployment compensation under federal or state law.
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Medicare and other healthcare coverage if you are 65 or older (other than premiums for a Medicare supplemental policy, such as Medigap).
For (b) and (c) above, your HSA can be used for your spouse or a dependent meeting the requirement for that type of coverage. For (d) above, if you, the account beneficiary, are not 65 years of age or older, Medicare premiums for coverage of your spouse or a dependent (who is 65 or older) generally are not considered qualified medical expenses.
– See more at https://www.irs.gov
Can I withdraw the funds from my HSA at any time?
Yes, you can withdraw funds from your HSA at any time. But please keep in mind that if you use your HSA funds for any reason other than to pay for a qualified medical expense, those funds will be taxed as ordinary income, and the IRS will impose a 20% penalty.
After you reach age 65 or if you become disabled, you can withdraw HSA funds without penalty but the amounts withdrawn will be taxable as ordinary income.
What sort of investment options do I have with my HSA?
You will need to check with your HSA vendor to see if you may invest your HSA funds in bank accounts, money market accounts, mutual funds, and stocks. You may not invest in collectibles, art, automobiles, or real estate.
It is recommended to keep a small balance in your HSA account to pay for current eligible expenses.
Can I use my HSA funds for my family members, although I only have insurance coverage for myself?
Yes, you can use your HSA to pay the qualified medical expenses for your spouse and dependents, as long as their expenses are not otherwise reimbursed.
– See more at https://www.irs.gov
Are Medicare Part D premiums considered qualified medical expenses?
Yes. If an account beneficiary has reached age 65, premiums for Medicare Part D for the account beneficiary, the account beneficiary’s spouse, or the account beneficiary’s dependents are considered qualified medical expenses.
– See more at https://www.irs.gov
Is there a limit to the amount I can spend with my HSA?
No, there is no minimum spending limit for your HSA, and the entire balance can be carried over from year to year.
Is there a limit to how much I can carry over from one plan year to the next?
No, there is no limit for how much you can carry over from year to year in your HSA.
Can I transfer assets in my IRA into an HSA?
Yes, the law allows a one-time transfer of IRA assets to fund an HSA.
The amount transferred may not exceed the amount of one year’s contribution and individuals must be otherwise eligible to open an HSA. Transfers are not taxable as IRA distributions; however, amounts transferred into an HSA from an IRA are not deductible. IRS Publication 969 provides more information.
– See more at https://www.irs.gov
How do I withdraw my HSA funds at or after age 65?
At or after age 65, you can withdraw your HSA funds for non-qualified expenses at any time, although they are subject to regular income tax. You can avoid paying taxes by continuing to use the funds for qualified medical expenses.
If you are age 65 or older, premiums for Medicare Part A, B, C or D, Medicare HMO, and employee premiums for employer-sponsored health insurance can be paid from an HSA.
– See more at https://www.irs.gov
How do I set up my HSA?
During Open Enrollment, select your qualified high-deductible health plan and with it, your HSA, either for yourself (individual) or your family. Once the plan year starts, you can access your HSA.
You can establish an HSA with the bank your employer utilizes for these accounts. See your HR representative for more information. Funds remain tax-free, assuming distributions are only taken for eligible healthcare expenses.
How does an HSA work?
It’s easy. Simply decide how much you want to contribute to your HSA each year and funds are automatically withdrawn from your paycheck for deposit into your account before taxes are deducted. This means you pay less in taxes and take home more of your pay.
HSA contributions are deposited in an FDIC-insured, interest-bearing account from which you can draw from at any time. You can choose how much you would like to invest and how much you would like to keep available for your eligible medical expenses. Any funds you put into your HSA and don’t use during the plan year stay with you, even if you change employers or retire. And it’s there for you today, tomorrow, or anytime in the future.
Do I have to make a certain amount of money each year to be eligible to enroll in an HSA?
No. It doesn’t matter how much money you earn. Anyone who is covered by a qualified high-deductible health plan is eligible to enroll in an HSA.
My spouse has a traditional health insurance policy through his/her employer. Am I eligible to participate in an HSA?
If your spouse has a traditional health insurance plan, such as a PPO or HMO, that provides individual coverage only, then yes, you are eligible to participate in an HSA, but only if you are enrolled a high-deductible health plan and your spouse doesn’t also have a Healthcare FSA or HRA that covers your healthcare care expenses.
If your spouse has a traditional health insurance plan that provides family coverage, and you have not exempted from that coverage, then no, you are not eligible to participate in an HSA. However, if your spouse has a traditional health insurance plan that covers him/her and your children only, then you are eligible to participate in an HSA.
– See more at https://www.irs.gov
What happens to my HSA if I leave my job?
This is one of the best things about an HSA: it’s yours! Your HSA is yours and yours alone. It is yours to keep, even if you resign, are terminated, retire from, or change your job. You keep your HSA and all the money in it, but keep in mind that there may be nominal bank fees if you are no longer enrolled in your HSA through your employer.
You can even use your HSA to pay for long-term care insurance, COBRA premiums, or other health insurance premiums if you’re receiving unemployment benefits.
Who can contribute to my HSA?
Almost anyone can contribute to your HSA—you, your spouse, your employer, your family members. For example, if you enrolled in an HSA through your employer, both you, as the employee, and your employer may make contributions. Additionally, your spouse may contribute to your HSA on behalf of other family members (e.g., your children) as long as the other family members are covered under the high-deductible health plan and are not otherwise insured.
What happens if I contribute to my HSA more than the maximum annual limit that the IRS allows?
HSA contributions in excess of the IRS annual contribution limits ($4,300 for individual coverage and $8,550 for family coverage for 2025) are not tax-deductible and are generally subject to a 6% excise tax.
If you’ve contributed too much to your HSA this year, you can do one of two things:
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Remove the excess contributions and the net income attributable to the excess contribution before you file your federal income tax return (including extensions). You’ll pay income taxes on the excess removed from your HSA.
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Leave the excess contributions in your HSA and pay 6% excise tax on excess contributions. Next year you may want to consider contributing less than the annual limit to your HSA to make up for the excess contribution during the previous year.
– See more at https://www.irs.gov
Commuter Benefits (Parking & Transit)
Parking & Transit (2025)
If you are commuting to work using public transportation and/or paying for parking as a part of your daily commute, this program will help defray your costs. This benefit allows parking and transit expenses to be deducted from your paycheck. Your monthly deductions up to $325 for parking and/or $325 for transit will be deducted pre-tax.
What if I don't use all the funds for the month in my commuter benefit?
Any unused funds for the month will carry over to the following months.
What happens to the funds in my commuter benefit if I terminate employment during the plan year?
Your Commuter Debit Card will be deactivated upon your termination date. The excess funds after deactivation are forfeited.
What is not an eligible commuting expense?
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Tolls
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Taxis
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Gas/fuel
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Mileage
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Business trip costs
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Airport parking fees
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Parking fees at your home