NEW! MotivHealth is your new HSA Administrator

To learn more, please click the download flyers to learn more about how and when to use your HSA Account!

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If you enroll in the HDHP/HSA medical plan, you are eligible to open an HSA account.

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This is how an HSA works:

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A health savings account (HSA) is a health care account and savings account in one. The main purpose is to offset the cost of a qualifying high deductible health plan (HDHP) and provide savings for your out-of-pocket eligible health care expenses — those you and your tax dependents may have now, in the future, and during your retirement.

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This is a "portable" account. You own your HSA! It's included in your employee benefits package, but after you set up your account, it's yours to keep, even if you change jobs or retire.

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Once your HSA is established, money is contributed to your account by you, your family or friends, and you can then use your HSA dollars tax-free to pay for eligible health care expenses. You save money on expenses you're already paying for, like doctors' office visits, prescription drugs, and much more. Best of all, you decide how and when to use your HSA dollars.

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The maximum annual amount you can contribute in 2025 is $4,300 for individual and $8,550 for families. 

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ASU Preparatory Academy will contribute up to $600 annually ($50 per month) to your HSA in the

2025-2026 school year. Please remember that the maximum contribution limits include employer contributions.

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Why is it a good idea to have an HSA?

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HSAs benefit everyone who is eligible to have this account — single individuals, families, and soon-to-be-retirees. You save money on taxes in 3 ways:

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1. Tax free deposits — The money you contribute to your HSA isn't taxed (up to the IRS annual limit).

2. Tax-free earnings —Your interest and any investment earnings grow tax-free.

3. Tax-free withdrawals — The money used toward eligible health care expenses isn't taxed, now or in the future.

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Setting aside pre-tax dollars into your HSA means you pay fewer taxes and increase your take-home pay by your tax savings. You save money on eligible expenses that you are paying for out of your pocket. The amount you save depends on your tax bracket. For example, if you are in the 30 percent tax bracket, you can save $30 on every $100 spent on eligible health care expenses.

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HSA funds roll over from year to year and accumulate in your account. There is no "use-it-or-lose-it" rule with HSAs, and you decide how and when to use your HSA funds, which can be used for eligible expenses you have now, in the future, or during retirement. And when you have a certain balance in your HSA, investment opportunities are available.

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To be eligible to contribute to a HSA, you must:

• Be covered by a Qualified High Deductible Health Plan (HDHP), and

• Not be covered under another medical plan that is not a HDHP, and

• Not be enrolled in Medicare, and

• Not be claimed as a dependent on another individual's tax return

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