There are many things to like about HSAs:
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Tax benefits:You may contribute to your HSA with pre-tax dollars deducted from your paycheck each pay period. This allows you to lower your current taxable income at the same time you are saving for healthcare needs.
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Flexibility: You decide how much to contribute, and you can increase or decrease your contribution amount at any point. Now would be a good time to review this year’s contributions. Please allow 1-2 pay periods for changes to take effect. The last day to make changes for 2022 is Nov. 10. (Need help? How to Change your HSA Contributions)
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Retirement tool: Because the money in HSAs rolls over year to year and always belongs to you, a lot of people use HSAs as part of their retirement savings. In fact, if you are an employee age 55 or older, you may contribute an additional $1,000 in 2023.
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Purdue helps, too: We also make annual contributions to your HSA*—and, again, the money always belongs to you, even if you leave Purdue. We make two types of contributions based on your medical plan coverage and participation:
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