Health Savings Account (HSA)

If you’re enrolled in one of the Health Savings (HS) Plans—Basic, Standard, or Premium—you’re eligible to open a Health Savings Account (HSA).

Why Open an HSA?

An HSA is an individual savings account that allows you to set aside your earnings to pay for qualified health care expenses.

Here are just some of the benefits of an HSA:

It’s your money to spend.
It can help you save on taxes and reduce your taxable income.
Synopsys helps you out.
Eligible Expenses

You can use your HSA to pay for these health care expenses:

  • Health plan deductibles and coinsurance
  • Most medical care and services
  • Dental and vision care
  • Prescription drugs and insulin
  • Medicare premiums (if age 65 or older)
Get Started

Follow these two steps to get started:

  1. Enroll in one of the HS Plans—Basic, Standard, or Premium.
  2. Elect your HSA through the Synopsys Enrollment and Resource Center, and select how much you'd like to contribute.
Making Contributions

You can make pretax or after-tax contributions to your account.

  • Pretax contributions are deducted automatically from your paycheck. You can change your contribution amount at any time during the year.
  • You can also make after-tax contributions by submitting a check or transferring funds online. After-tax contributions are tax deductible until you reach the maximum contribution limit.

You can also transfer savings from another HSA or make a one-time qualified HSA funding distribution from an IRA.

To make changes to your contributions, visit the Synopsys Enrollment and Resource Center.

Contribution Limits

Maximum contribution limits are set by the IRS and may vary each year. Note: If you’re age 55 or older, you can make an additional catch-up contribution of $1,000.

  HS Basic Plan HS Standard Plan HS Premium Plan

Employee only

Your contribution limit: $3,500 per year

Synopsys contribution: None

Your contribution limit: $3,000 per year

Synopsys contribution: $500

Your contribution limit: $2,750 per year

Synopsys contribution: $750

Employee + 1 or more dependents

Your contribution limit: $7,000 per year

Synopsys contribution: None

Your contribution limit: $6,000 per year

Synopsys contribution: $1,000

Your contribution limit: $5,500 per year

Synopsys contribution: $1,500

You can increase or decrease the contributions to your HSA at any time during the year.

Legal Notices

For detailed summaries and legal disclosures, visit the Legal Notices page.