Helpful Downloads and Links
HSA Member materials - For even more information about our HSAs.
HSA Custodial Agreement - The agreements account holders make upon opening an HSA
HSA Essential Guide - This guide provides a comprehensive overview of HSAs for your employees.
Product Comparison Chart -This chart explains the differences among multiple health spending account options.
HSA Direct Plan Design Guide - This form is required to set up a direct HSA.
HSA vs a Traditional Health Plan Calculator - Compare how an HSA eligible plan stacks up against traditional plans
HSA Goal Calculator - Plan your HSA balance into retirement with this calculator.
HSA Maximum Contributions Calculator - Figure out how much to contribute each money to maximize tax savings.
HSA Employer Benefit Calculator - Estimate the value of creating a High Deductible Health Plan (HDHP) with Health Savings Accounts (HSA) for your employees.
Frequently Asked Questions
- Can business owners not eligible for a health reimbursement arrangement (HRA) establish an HSA?
- Yes. This includes owners of S corps, sole proprietors, LLCs, LLPs and partnerships. However, these individuals cannot use pretax dollars via a cafeteria plan to fund their HSA. These individuals are eligible to make post- tax contributions to their HSA and claim a deduction when they file their taxes. We recommend you consult your tax advisor in this situation, as special rules apply.
- Do both employer and employee contributions count toward the annual contribution maximum?
- Yes. Both employer and employee contributions are combined with calculating the maximum.
- Do you have an FDIC-insured HSA plan?
- Yes, our HorizonMyWay Select HSA plan is FDIC-insured.
- What HSA investment options are available?
If desired, the account holder can leave the entire HSA balance at Horizon, where it earns interest, or choose to invest a portion of it. Once an HSA base balance exceeds $1,000, the account holder can open a basic, self-directed investment account, which gives access to more than 30 no-load and load-waived pre-selected mutual funds. At least $1,000 must be kept in the base balance of the HSA account.
In addition, when the basic investment account balance exceeds $10,000, the account holder can open a self-directed brokerage investment account with Charles Schwab. This account allows access to more than 2,500 mutual funds from a variety of families, as well as stocks, bonds, and other investments.
- How is an HSA funded?
- Contributions to an HSA can come from the account holder, the employer, or both. The HSA contribution limits for individual or family health plans change annually and are as follows: