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CBIA's Health Savings Account Progam

If you are covered by one of our HSA compatible health plans, then a tax-advantaged Health Savings Account may be for you. Health Savings Accounts (HSAs) help pay for your medical care and allow you to build up savings to pay for future medical expenses.

CBIA HSAs are comprised of two parts, your choice of four HSA compatible health plans and the tax advantaged Health Savings Account vehicle. To determine if these plans are right for you and your employees, check out our Employer Calculator and Employee Calculator.

 

 

Learn more about HSAs in the HSA Fact Sheet and HSA Road Rules for Employees.

 

For questions, call CBIA's Tom Guerra at 860.244.1160.

2014/2015 Maximum Contribution Levels for Health Savings Accounts

The Treasury Dept. and IRS have issued guidance on the minimum and maximum contribution levels for Health Savings Accounts (HSAs) and out-of-pocket spending limits for high deductible Health Plans (HDHPs) that must be used in conjunction with HSAs. These amounts have been indexed for cost-of-living adjustments.

           

 

Minimum Deductible

Maximum Contribution

Out of Pocket Max

Single

$1,250 (2014)

$1,300 (2015)

$3,300 (2014)

$3,350 (2015)

$6,350 (2014)

$6,450 (2015)

Family

$2,500 (2014)

$2,600 (2015)

$6,550 (2014)

$6,650 (2015)

$12,700 (2014)

$12,900 (2015)

                                                                                                                                                                                                                     

Out-of-pocket expenses include deductibles, co-payments, and other amounts, but not premiums.

Catch-up contributions (age 55 or older): $1,000

Important notes: Effective Jan. 1, 2011, expenses incurred for over-the-counter medicines, with the exception of insulin, will not be eligible for reimbursement under a health FSA, HRA or HSA without a prescription. The penalty for using HSA funds for ineligible expenses is 20% of the HSA distribution.

 

 

HSA Vendor Information and Enrollment Forms