If you are a High Deductible Health Plan (HDHP) participant and meet eligibility requirements, it’s not too late to contribute to a Health Savings Account (HSA).
You may not be eligible if:
You have additional non-HDHP medical plan coverage
You or your spouse has a Healthcare Flexible Spending Account (FSA)
You are listed as 'dependent' on another person’s tax return
You are enrolled in Medicare (Part A and/or Part B)
Advantages of an HSA
Pre-tax, payroll contributions
Tax-free withdrawals for qualified medical expenses (including prescription drug, vision and dental expenses)
Account balance rolls over, year over year
Money remains available for qualified medical expenses even if you change health insurance plans, change employers or retire
To enroll in the HSA
Log in via CUBES, confirming access through multi-factor authentication (DUO)
Click the Benefits tab at the top of the screen; select “Change My Health Savings Account Contribution”
Select “Change” under the HSA benefit
You must confirm eligibility every year
Complete the eligibility questions and Health Savings Account Affirmation and “Set Up Your HSA Contribution.” (Until you complete the eligibility affirmation and “Set Up Your HSA Contribution” the “coverage details” will say you are ineligible).
Enter your contribution amount and “Add to Cart.”
Review your election in Your Cart, then “Checkout” to save your HSA election
As always, if you have any questions, please contact the Columbia Benefits Service Center, Monday to Friday from 9:00 a.m. to 4:00 p.m. at 212-851-7000 or via email at email@example.com.