Health Savings Account (HSA)

• Health Savings Account - Questions and Answers

Health Savings Account

The Medical College of Georgia allows employees who are enrolled in the High Deductible Health Plan (HDHP) to enroll in a Health Savings Account (tax-advantaged savings account).  A health savings account allows employees to make contributions on a pre-tax basis.  Employees can use the funds that have been contributed into the account for Qualified Medical Expenses (QME) or for general expenses in retirement.

Health Savings Account - Changes for 2010

The University System will provide a one-time seed into the account payable in two installments for employees with the High Deductible Health PPO Plan, the first installment will be paid in the month of January and the second in July.

*The 2010 limit will be decreased by the seed amount.  (Example:  Family limit will decrease to $4,650.)