Health Savings Accounts (HSAs) can receive contributions from three different sources.
If you’re enrolled in any of the following Medical Plan coverage options, you have the ability to receive and make contributions to an HSA. These contributions can help you pay for qualified health care expenses you have during the year – or in future years.
- Allstate Medical Savings Plan
- Allstate Medical Value Plan
- Kaiser Savings HMO
- Kaiser Value HMO
Medical Plan Contributions
The Medical Plan will contribute $500 to your HSA if you are enrolled in the Allstate Medical Savings Plan, Allstate Medical Value Plan, Kaiser Savings HMO or Kaiser Value HMO options as follows:
- One-half in January 2018, if you are enrolled on January 1, 2018.
- One-half in July 2018, if you are enrolled on July 1, 2018.
The following are the limits for how much you can contribute to your HSA bank account via payroll deduction.
|COVERAGE TIER||2018 MAXIMUM HSA PAYROLL CONTRIBUTIONS|
|You + Children||$6,200*|
|You + Spouse||$6,000*|
|You + Family||$6,000*|
|If you're age 55+||Additional catch-up contribution of up to $1,000 allowed|
*Limits reflected here are less than the maximum IRS limits to allow for potential Allstate Medical Plan contributions and earned Wellness Incentives. If you wish to change your payroll contributions during the year, you may do so by contacting the Allstate Benefits Center. If you do not earn Wellness Incentives or receive the entire Medical Plan contribution, you may make up the difference by making a deposit directly to your HSA on your own to reach the IRS limit. Please note that in some states, HSA contributions are not exempt from state income taxes (e.g., California).
The Company contributes earned wellness incentives for participants who are eligible who are eligible to contribute to an HSA.