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Health Savings Account (HSA)

Plan benefits

Due to IRS regulations, the HSA is only available to individuals enrolled in the Value PPO. Covers health care expenses incurred by you or your eligible tax dependents not paid by insurance. Complete listing in IRS publication 502 found on the IRS website. For more information, view the HSA Quick Reference Guide. Interested in investing your Health Savings Account dollars? For more information, read this guide.

Contribution summary

Northwestern will match your pre-tax contribution to your HSA up to:

If you and Northwestern contribute the maximum allowed, the total contributions to your HSA for the year will equal the annual maximum contribution allowed under federal regulations.

Under age 55

HSA benefit details for individuals and families. This is for employees under the age of 55.
Health Coverage Status You Contribute Northwestern Contributes Total Funded
Single Northwestern HSA Account Up to $2,700 + up to $750 $3,450
Family* Northwestern HSA Account Up to $5,400 + up to $1,500 $6,900

 

Age 55 and older**

HSA benefit details for individuals and families. This is for employees aged 55 or older.
Health Coverage Status You Contribute Northwestern Contributes Total Funded
Single Northwestern HSA Account Up to $3,700 + up to $750 $4,450
Family* Northwestern HSA Account Up to $6,400 + up to $1,500 $7,900

*Family coverage includes: you + spouse, you + child(ren) and you + spouse + child(ren).

**For individuals age 55 and older by December 31, 2018, additional “catch-up” contributions of $1,000 for 2018 are allowed and may be made via payroll deductions.

Enrollment

Newly eligible

Changing your contribution

An individual may adjust their HSA contributions at any time online via myHR.

Open enrollment

File a claim

Tax implications

Separation from the University