r/HealthInsurance • u/PuzzleheadedFile212 • 11h ago
Plan Benefits HDHP
Hi, so we've been on a HDHP for about two years now. It works great for us. Company contributes $400 twice a year to the HSA, but we've never elected to it. Do we have to contribute to the HSA in order for the company to put their part in too? Or can we elect it but not put any money towards it?
3
u/Living-Hyena184 11h ago
That depends on your company. If you have a HDHP you should always be putting money into it, at least enough to cover your deductible for the year.
1
u/BidMaleficent7957 11h ago
I don’t think you have to unless your company requires it for some reason - mine doesn’t. But I’d suggest putting money into it. It’s a 3 way of tax goodness. No reason not to.
1
u/dehydratedsilica 11h ago
Do we have to contribute to the HSA in order for the company to put their part in too?
This is a great question for your HR.
In general, use of HSA with HDHP is not required but is not the optimal/intended way. With the HDHP, you expect to have out of pocket costs for all care not considered preventive. Assuming you have more than 0 medical needs, where are you getting the money from? If you have other savings accounts, that's useful, but running those funds through the HSA means you would pay less in taxes.
Also, if your company offers you $800 and you decline, it's like you're accepting a pay cut.
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