TSS - HDHP with Health Savings Account

HDHP with Health Savings Account

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First Published  :Thu Aug 18 20:14:29 GMT 2022
Last Modified  :Thu Aug 25 16:07:48 GMT 2022
Last Published  :Thu Aug 25 16:07:48 GMT 2022
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    At Tufts, one health plan option is Blue Cross Blue Shield High Deductible that is paired with a health savings account.  Please read more about this option.

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    ELIGIBILITY: OVERVIEW
    Faculty/Staff who enroll in the BCBS PPO HDHP Plan will automatically be enrolled in the Health Savings Account (HSA), which they can use to pay for qualified medical expenses. All HSA funds roll over each year and are the employees to keep even when they leave Tufts.

    HSA Contributions – University
    The university's contribution to an HSA is reviewed and communicated each plan year during Open Enrollment.
    In 2022 the university will automatically contribute to the employee HSA if they are enrolled in the BCBS HDHP Plan: $500 (individual coverage) and $1,000 (2-person or family coverage)
    Employees who enroll during Open Enrollment will receive the university contribution in their first January paycheck.
    For employees who enroll mid-year, the HSA contribution will be made in the first paycheck of the following month (ex. Enroll on Feb. 15th; HSA contribution first pay to check in March)

    HSA Contributions – Employee
    Employees may also elect to contribute to the HSA on a pre-tax basis and may start, change, or stop their HSA contributions any month. As a new hire or during Open Enrollment changes can be made through eSErve. At any other time, contribution elections must be made by submitting the HSA Salary Reduction Agreement Form.

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