A Health Savings Account (HSA) is a personal healthcare bank account you can use to pay out-of-pocket medical expenses with pretax dollars. If you enroll in a high-deductible health plan, you can open an HSA. You contribute pre-tax dollars to the HSA and Springfield Public Schools will contribute to your HSA.
Springfield Public Schools' contributions count toward the annual HSA contribution limit, so you need to plan carefully how much you will contribute. For annual maximums, please refer to the SPS Benefits Guidebook.
Unused account dollars are yours to keep, even if you retire or leave the company. You can also invest your HSA funds, so your available healthcare dollars can grow over time.
For more information, please see the SPS Benefits Guidebook.