Health Savings Account (HSA)
A health savings account (HSA) is a tax-favored personal savings account that works with your high deductible health plan (HDHP). You can use it to pay qualified medical expenses such as deductibles, copays, over-the-counter items, dental, and vision care. For a complete list of qualified medical expenses, see IRS Publication 502 at irs.gov. To learn more, visit Voya or download the mobile app.
HSA Major Benefits
- Your account always belongs to you; you can take it with you when you leave or retire.
- Your balance rolls over from year to year.
- Contributing lowers your taxable income.
- The account helps you build a healthcare nest egg for emergencies or retirement.
Triple Tax Savings
- Tax deduction when you contribute to your account
- Tax-free earnings through investment
- Tax-free withdrawal for qualified expenses
2026 HSA Funding Limits
The IRS sets maximum HSA contribution limits for 2026.
| Coverage Level | Limit |
|---|---|
| Individual Coverage | $4,400 |
| Family Coverage | $8,750 |
| Age 55 or Older | Can contribute an additional $1,000 on top of these amounts |
How Does the HSA Work?
If you are electing an HSA for the first time, you must complete the Voya enrollment form here. You can also download the Voya app.
Once your account is open, you will receive a bank card which will allow you to pay for qualified medical expenses. If you want checks, you may also request them but there is a nominal fee required.
When Visiting a Physician, Hospital, or Other Facility
- When arriving for your appointment, provide them with your Anthem insurance card.
- After your visit, your claim will be submitted to Anthem for processing.
- After the healthcare provider has received notification from Anthem that the claim has been processed, you will receive a billing statement outlining the balance you are responsible to pay.
- Use your HSA debit card to pay for these expenses.
When Going to the Pharmacy
- When picking up your medication, provide them with your Anthem insurance card.
- The pharmacy will run it through their system and provide you with a balance due.
- You then use your HSA debit card to pay for these expenses at that time.
- Congress recently passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. One provision within the CARES Act allows individuals to use money from pre-tax accounts (health savings accounts (HSA) and flexible spending arrangements) to purchase over-the-counter drugs. It also allows pre-tax purchase of menstrual products.
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