Health Savings Accounts
State continues to contribute to Health Savings Account
The state will contribute approximately 45 percent of the Consumer Driven Health Plan (CDHP) annual deductible to your Health Savings Account (HSA) in 2021. The initial contribution will be made on your January 6, 2021 paycheck. Employees enrolled in a CDHP effective from January 1, 2021 through June 1, 2021 receive the full pre-fund amount. CDHPs effective after June 2, 2021, but before December 2, 2021, receive one-half of the initial contribution. The initial pre-fund contribution is based on the coverage type (single/family) that is effective January 1, 2021 or your first day of coverage in a state health plan during 2021.
|Plan||Initial Contribution||Bi-Weekly Contribution||Annual Employer Contribution|
|HSA 1 - Single||$562.38||$21.63||$1,124.76|
|HSA 1 - Family||$1,124.76||$43.26||$2,249.52|
|HSA 2 - Single||$393.90||$15.15||$787.80|
|HSA 2 - Family||$787.80||$30.30||$1,575.60|
If you wish to make a change to your Health Savings Account (HSA) mid-year please contact the Benefits Hotline.
The Benefits Hotline is available Monday through Friday 7:30 a.m. to 5 p.m.
By Phone: 317-232-1167 or 1-877-248-0007
By Email: SPDBenefits@spd.in.gov
- 2021 HSA Education and Enrollment Packet
- HSA and Medicare FAQs
- HSA Healthcare Cost-Savings Strategies
- Allowable HSA Expenses
As a reminder, to be eligible for an HSA you:
- Must be currently enrolled in an HSA-qualified health plan;
- May not be enrolled in any other non-HSA qualified health plan;
- May not have, or be eligible to use, a general purpose Flexible Spending Account (FSA);
- Cannot be claimed as a dependent on another person’s tax return;
- May not be enrolled in Medicare, Medicaid, HIP or Tricare;
- Must not have used VA benefits for anything other than preventative services in the past three months.
View IRS Publication 969 for more information.
To open your HSA, link to The HSA Authority’s website from PeopleSoft on your HSA election page, or go directly to www.theHSAauthority.com and click on the “Enroll Now” button. The first page of this online session says: If you have been instructed by your employer to visit this site to open your HSA, click this button and insert your employer code below. Enter 100366 in the “employer code” to begin the state application.
You need the following information to complete the HSA application online:
- Driver’s license
- Social Security number, date of birth and address for your beneficiaries
- Social Security number, date of birth and address for your authorized signer (if selected)
- Security passwords for you and your authorized signer (based on the answer to one of the five questions you select during the application process)
HSAs have a maximum contribution limit
Contributions are allowed up to the maximum statutory limit. The maximum annual contribution for 2021 is $3,600 for self-only policies and $7,200 for family policies. Individuals age 55 and over may make an additional catch up contribution of up to $1,000 in 2021.
Combined household contributions cannot exceed the family limit. The maximum includes the state’s contributions and any other contributions to your HSA.
|Plan||Coverage||IRS Maximums||State Contribution||Maximum Employee Contribution||Maximum Bi-Weekly||Maximum Employee Contribution Over 55||Maximum Bi Weekly Over 55|