{"id":117147,"date":"2019-11-15T10:28:54","date_gmt":"2019-11-15T17:28:54","guid":{"rendered":"https:\/\/communique.uccs.edu\/?p=117147"},"modified":"2019-12-28T14:18:52","modified_gmt":"2019-12-28T21:18:52","slug":"employees-enroll-in-an-hsa-today-cover-your-medical-costs-tomorrow","status":"publish","type":"post","link":"https:\/\/communique.uccs.edu\/?p=117147","title":{"rendered":"Employees: Enroll in an HSA today, cover your medical costs tomorrow"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright\"><img fetchpriority=\"high\" decoding=\"async\" width=\"326\" height=\"254\" src=\"https:\/\/communique.uccs.edu\/wp-content\/uploads\/2019\/11\/hsa-communique.jpg\" alt=\"Graphic for Health Savings Accounts\" class=\"wp-image-117149\" srcset=\"https:\/\/communique.uccs.edu\/wp-content\/uploads\/2019\/11\/hsa-communique.jpg 326w, https:\/\/communique.uccs.edu\/wp-content\/uploads\/2019\/11\/hsa-communique-300x234.jpg 300w\" sizes=\"(max-width: 326px) 100vw, 326px\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">CU faculty and staff who are enrolled in CU Health Plan &#8211; High Deductible can update their HSA contributions for 2020 or enroll in an account in the <a href=\"https:\/\/my.uccs.edu\">myUCCS portal<\/a> from 8 a.m. Monday, Nov. 18 to 5 p.m. Friday, Dec. 6. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As\nthe New Year approaches, it\u2019s a good time to evaluate current savings strategies\nand make adjustments. That\u2019s one reason CU gives faculty and staff a way to\nsave for medical expenses with a Health Savings Account (HSA). This account can\nbe used to pay for medical expenses today, and grow your savings to pay for\nmedical expenses in retirement. Unlike a Flexible Spending Account, there are\nno time constraints on using your HSA money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What\nis an HSA?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Administered\nby Optum Bank, a Health Savings Account (HSA) is a way to pay for qualified\nhealth care expenses now or in the future. HSAs offer three tax benefits:\nTax-free savings, tax-free growth, and &nbsp;tax-free spending on qualified medical\nexpenses from today throughout your retirement. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How\nmuch can I contribute?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\nIRS increased 2020 contribution limits for all HSA account holders. Those 55 or\nolder are allowed a $1,000 catch-up provision.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">HSA\ncontribution limits for 2020<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Individual Coverage Limit &#8211; $3,550<\/li><li>Individual Coverage Limit (age 55 or older) &#8211;\n$4,550<\/li><li>Family Coverage Limit &#8211; $7,100<\/li><li>Family Coverage Limit (age 55 or older) &#8211; $8,100<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Keep\nin mind: You may change your HSA election amount at any time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Learn more at the <a href=\"https:\/\/www.cu.edu\/employee-services\/benefits-wellness\/current-employee\/hsa-fsa\/health-savings-account\">Employee Services website<\/a>.  Have additional questions? Reach out to an Employee Services benefits professional at 303-860-4200, option 3 or <a href=\"mailto:benefits@cu.edu\">benefits@cu.edu<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>CU faculty and staff who are enrolled in CU Health Plan &#8211; High Deductible can update their HSA contributions for 2020 or enroll in an account in the myUCCS portal from 8 a.m. Monday, Nov. 18 to 5 p.m. Friday, Dec. 6.  <a class=\"mh-excerpt-more\" href=\"https:\/\/communique.uccs.edu\/?p=117147\" title=\"Employees: Enroll in an HSA today, cover your medical costs tomorrow\">(More)<\/a><\/p>\n<\/div>","protected":false},"author":5,"featured_media":117149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[1],"tags":[44,85],"class_list":["post-117147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","tag-administration-and-finance","tag-human-resources"],"jetpack_featured_media_url":"https:\/\/communique.uccs.edu\/wp-content\/uploads\/2019\/11\/hsa-communique.jpg","jetpack_shortlink":"https:\/\/wp.me\/p1mBpJ-utt","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=\/wp\/v2\/posts\/117147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=117147"}],"version-history":[{"count":2,"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=\/wp\/v2\/posts\/117147\/revisions"}],"predecessor-version":[{"id":117151,"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=\/wp\/v2\/posts\/117147\/revisions\/117151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=\/wp\/v2\/media\/117149"}],"wp:attachment":[{"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=117147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=117147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/communique.uccs.edu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=117147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}