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HSAs: A Smarter Way to Save

A closer look at Healthcare Spending Accounts (HSA)

Saving for healthcare expenses is easier than you think with a Health Savings Account, or HSA. When you enroll in Purdue’s HSA 1 or HSA 2 medical plans, you can set aside pre-tax dollars (via payroll deductions) to help pay your out-of-pocket healthcare bills.

Plus, if you enroll in one of our HSA medical plans, Purdue will make an annual contribution directly to your HSA of $325 for single coverage and $650 for family coverage. You can double that contribution by participating in the Healthy Boiler Wellness Program.

Purdue Employees contribute more than $13M to their HSAs in 2018. Purdue contributed more than $9M to employees HSAs in 2018.

When you combine the tax savings on the money you save, the contributions Purdue makes on your behalf and the fact that HSA dollars roll over year-to-year and are yours to keep forever, HSAs are a great way to pay for your healthcare needs.

Watch these quick videos to learn more. Two to three minutes of your time could lead to:

  • Tangible tax savings
  • A healthcare savings that builds over time and goes with you if you change jobs
  • Peace of mind for you and your family

As we gear up for benefits open enrollment, we encourage you to take the time to evaluate if Purdue’s HSA medical plans are a good option for you and your family. Our recent medical plan cost analysis, which took an in-depth look at Purdue medical spending, found that many employees are spending less with the HSA plans, compared to the traditional PPO.