October 29, 2021
Human Resources shares important information for HSA Bank account holders
The deadline to make changes to health savings accounts (HSAs) is Nov. 5. Employees are asked to review their health savings account (HSA) contributions and University contributions – including incentive pay from the Healthy Boiler Incentive Program – and make any adjustments via Benefitfocus. Doing so by Nov. 5 ensures that changes are processed in time for the end of the calendar year so employees do not exceed IRS annual contribution limits for 2021.
If an employee’s spouse also receives or makes contributions to an HSA through Purdue or another employer, employee and spouse must collectively adhere to the contribution family limit.
As a reminder, the 2021 limits for total combined HSA contributions are:
- $3,600 for employee-only coverage.
- $7,200 for family coverage (employee + one or more).
The following resources are available to assist employees:
HSA Bank cards expiring at end of year
Many HSA Bank cards are expiring at the end of the year for those who have had a card since 2018. Renewal cards are automatically triggered 45 days before expiration. New cards will start arriving in home mailboxes at the end of November, and all should be received by mid-December. Cards will be sent in plain envelopes for security reasons. In addition, employees are encouraged to verify that their mailing address and other personal information is up-to-date in SuccessFactors.
Questions
Any questions on HSA contributions can be directed to Human Resources at 765-494-2222, toll-free at 877-725-0222 or via email at hr@purdue.edu.
