A Health Savings Account (HSA) is an individually-owned, tax-advantaged account that you can use to
pay for current or future eligible medical expenses. With an HSA, you’ll have the potential to build more
savings for health care expenses or additional retirement savings through self-directed investment
What are the benefits of an HSA? How does it work?
ξ Pre-tax contributions reduce your taxable
ξ Post-tax contributions are tax deductible.
ξ Make changes to your contribution at any time.
ξ Distributions for eligible medical expenses are tax
ξ HSA funds carry over year-to-year without
ξ Contributions to your HSA belong to you, even if
you retire or change employment.4
ξ Grow your savings over time by earning interest.
ξ After age 65, your funds can be withdrawn for
any purpose without penalty (subject to regular
ξ You can contribute to your HSA via payroll
deduction or by online transfer from your personal
bank account to your HSA. Your employer (if
eligible for employer contribution) or third parties,
such as a spouse or parent, may contribute to your
account as well.
ξ You can pay for eligible medical expenses with
your TASC Card or pay out-of-pocket. If you pay
out-of-pocket, you can either choose to reimburse
yourself or keep the funds in your HSA to grow
ξ Manage your HSA account 24/7 via the TASC
Benefits mobile app or TASC Online account at
ξ State employees, except those who are eligible for the graduate assistant/short term academic staff benefits
package and are not in the Wisconsin Retirement System, are eligible to participate.
ξ Limited Term Employees (LTEs) who are eligible for the State of Wisconsin Group Health Insurance Program
are eligible to participate.
ξ Retirees1 younger than age 65 are eligible to participate.
ξ To enroll in an HSA, you must be enrolled in a qualified HDHP. In addition:
o You cannot have any other health coverage that pays for out-of-pocket health care expenses before you meet
your plan deductible, including Medicare A and B.
o You cannot be covered by TRICARE, or have accessed your Veterans Administration (VA) benefits in the past 90
days (to contribute to an HSA). Exceptions may apply. See HSA Participant Guide for more details.
o You cannot be claimed as a dependent on another person’s tax return (unless it’s your spouse).
o You (and your spouse) cannot have a Health Care FSA in the same year.
o Note: You must notify your human resources/benefits office of any other medical coverage when
enrolling in, and at any point while enrolled in, the HDHP and HSA.
Annual HSA Contribution Limits 2017 2016
Individual HSA Contribution Limit2 $3,400 $3,350
Family HSA Annual Contribution Limit2 $6,750 $6,750
This is the amount the Internal Revenue Service (IRS)
allows to be contributed to an individual HSA. If a married
individual’s spouse also has an HSA, the two can only
contribute up to the total contribution limit between the two
HSAs. If you are eligible, your employer may contribute
up to $750 individual/$1,500 family.
HSA Catch-Up Contribution Limit3 $1,000 $1,000
1: Retirees enrolled in IYC HDHP/HSA benefit option must keep HSA open and active, and pay $3.00
monthly service fee.
2: Contributions from all sources combined, such as employee, employer, and third parties (i.e. parent,
spouse, or anyone else) must not exceed these limits.
3: Health Savings Accountholders that meet these qualifications are eligible to make an HSA Catch-Up
Contribution of $1,000: age 55-65 (regardless of when in the year an accountholder turns 55), not
enrolled in Medicare (if an accountholder enrolls in Medicare mid-year, catch-up contributions should be
4: Employees that terminate employment but keep HSA open and active pay $3.00 monthly service fee.
Annual HSA Contribution Limits
Eligible HSA Medical Expenses
Below is a partial list of eligible expenses that are reimbursable through an HSA. Eligible expenses can be incurred by you,
your spouse, or qualified dependents. For more information, see your HSA Participant Guide. For the complete list of eligible
and ineligible expenses, visit www.IRS.gov and see IRS Publications 502.
Medical Expenses Dental Expenses
ξ Birth control/contraceptive devices
ξ Birth classes/Lamaze5
ξ Blood pressure monitor
ξ Chiropractic therapy/exams/adjustments
ξ Flu shots
ξ Hearing aids and batteries5
ξ Infertility treatments
ξ Insulin and diabetic supplies
ξ Legal sterilization
ξ Physical exams
ξ Physical therapy5
ξ Sleep apnea services/products5
ξ Smoking cessation programs
ξ Treatment for alcohol or drug dependency
ξ Wrist supports/elastic straps
ξ X-ray fees
5: Restrictions may apply. See IRS Publication 502 for more details.
ξ Cleanings and exams
ξ Crowns and bridges
ξ Dental surgery
ξ Dental x-rays
ξ Diagnostic services
ξ Root canals
ξ Contact lenses and lens
ξ Eye exams
ξ Eye surgery
ξ Diagnostic services
ξ Laser eye
ξ Prescription eyeglasses
ξ Seeing eye dog (buying,
training, and maintaining)
OTC Medicines and Drugs
Over-the-counter (OTC) medicines and drugs, except for
insulin, require a prescription from your physician to be
reimbursable with your TASC HSA. The prescription must be
included with each request for reimbursement.
ξ Cold medicines
ξ First Aid supplies
ξ Hemorrhoid treatments
ξ Indigestion medications
ξ Nicotine patches
ξ Pain relievers
ξ Pain relieving creams
ξ Sinus medications
Note: If you have a qualified dependent child, you can use your HSA funds to pay for their eligible medical expenses through
the end of the calendar year in which they turn 24.
Interest Rate and HSA Investment Options
ξ Funds in your HSA account will earn interest over time.
ξ Once your balance reaches $2,000, you may invest any funds above that level (in $100 increments) in a variety of
HSA investment options with varying levels of related risk and returns.
ξ For more information about interest rate and HSA investment options, see page 4 of the HSA Enrollment Brochure
or visit TASC Online at https://partners.tasconline.com/ETFEmployee.
How to Enroll Following Enrollment
ξ Annual It’s Your Choice Open Enrollment period:
October 17 – November 11, 2016
ξ Benefit Period: January 1 – December 31, 2017
ξ Deadline for New Hire Enrollment is within 30
days from hire date. Contact your human
resources/benefits office for details.
ξ Deadline for Qualified Life Change Event
Enrollment or Changes is within 30 days of the
date of the qualified life change event. Contact
your human resources/benefits office for details.
ξ See the HSA Enrollment Brochure or visit
www.etf.wi.gov/IYC2017 for enrollment
information, or contact your human
resources/benefits office for enrollment
ξ Note: If you are continuing HDHP coverage, you
must re-enroll in HSA each year. Elections do not
carry forward from year to year.
Once you have enrolled in the HSA, you will receive:
ξ HSA Welcome Brochure
The HSA Welcome Brochure will provide you with
information on how to manage your HSA, set-up
your TASC Online account, your responsibilities,
and key dates. It will also provide you with
information on how to make additional
contributions, transfer funds to an investment
account, or request a distribution.
ξ TASC Card
Your TASC Card allows you to conveniently pay for
eligible medical expenses. Be sure to review the
Cardholder Agreement included with your TASC
o Note: If you are a current TASC participant,
you will not be issued a new TASC Card. You
will continue to use your current TASC Card.
TASC Customer Care | Phone 844-786-3947 or 608-316-2408 | Email email@example.com