Health Spending Account (HSA)

Available in all locations

What is a Health Spending Account (HSA)?

The HSA offers you optional tax-advantaged savings to use now or later for eligible health care expenses. You’re in control of how you spend or save your HSA money, and you always own 100% of your account balance. You can even take it with you if you change plans, leave the company, or retire.

Who is eligible?

To be eligible for an HSA, you must:

  • Be enrolled in a High Deductible medical plan (see HSA plans available below)
  • Elect to be enrolled in the HSA (you do not have to make a contribution in order to receive the employer contribution);
  • Have no other health care coverage;
  • Not be enrolled in Medicare; and
  • Not be claimed as a dependent on someone else’s tax return.
  • If you enroll in a Health Savings Account (HSA), you may not enroll in the Health Care flexible spending account (FSA). However you can enroll in the Limited Purpose FSA.

HSA Plans Available

  Aetna OAMC - HDHP with HSA Aetna ME HDHP with HSA Kaiser HDHP with HSA (CA only)
Plan features In-Network Out-of-Network In-Network Out-of-Network In-Network
Annual Deductible $1,800 / $3,600* $4,000 / $8,000 $5,000 / $10,000 $7,500 / $15,000 $1,400 / $2,800
Coinsurance 80% 60%** 80% 50%** 80%
Annual Out-of-Pocket Maximum $4,000 / $8,000 $8,000 / $16,000 $6,350 / $12,700 $15,000 / $30,000 $3,000 / $6,000
Office Visit 80% after deductible 60%** after deductible 80% after deductible 50%** after deductible $20 copay after deductable

Prescription Drug

  • Generic
  • Preferred Brand
  • Non-Preferred Brand
  • Specialty

 

100% after deductible

$30/$60 after deductible

$50/$100 after deductible

20% Max. $150 after deductible

 

40% of submitted cost Max. $250

40% of submitted cost Max. $250

40% of submitted cost Max. $250

N/A

 

$20 after deductible

$40 after deductible

$70 after deductible

20% after deductible

 

50%** after deductible

50%** after deductible

50%** after deductible

50%** after deductible

 

$10 deductible does not apply

$30 deductible does not apply

$30 deductible does not apply

20% after deductible

How much does Omnicell contribute to your HSA?

Omnicell will contribute $750 per year for employee only coverage and $1,500 per year for family coverage to your HSA.

How much can you contribute to your HSA?

The maximum amount you and Omnicell can contribute to your HSA for 2022 (Omnicell’s and your contributions combined) is $3,650 pre-tax for employee only coverage or $7,300 pre-tax if you cover one or more eligible family members.

What can you use it for?

You can use your money for eligible health care expenses whenever you need it—now or in the future (even in retirement). You can use your HSA to pay for many out-of-pocket health care expenses, including coinsurance and deductibles. Visit the PayFlex website for a more comprehensive listing of HSA-eligible expenses. The account works much like a regular bank account. You’ll receive a debit card to pay for expenses. You’ll also be able to request checks. You cannot use the money in your HSA to pay for non-health care-related expenses. If you do, you will be taxed and penalized according to IRS rules. Please note: If you have domestic partner coverage, the domestic partner must be considered an IRS tax dependent in order for your HSA funds to be used for the domestic partner’s medical expenses.

How to open an HSA

When you enroll in a High Deductible plan with a HSA, you can elect to open a HSA and input the amount you wish to contribute. For 2022, you can contribute up to $3,650 pre-tax for employee only coverage or $7,300 pre-tax if you cover one or more eligible family members (Omnicell’s and your contributions combined). Participants who will be 55 or older in 2022 can contribute an additional $1,000. You will need to activate your HSA account with PayFlex within three months of your plan starting. If your account is not activated, your funds will be returned and your account will be closed.

Can I have both a Health Care FSA and an HSA?

If you choose to open an HSA, you cannot participate in a Health Care FSA. However, you can participate in a Limited Purpose FSA, which you can use to offset any eligible dental and/or vision care expenses.