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).
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:
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)
Follow these two steps to get started:
- Enroll in one of the HS Plans—Basic, Standard, or Premium.
- Elect your HSA through Benefitsolver, and select how much you'd like to contribute.
To speak with a consultant, call (800) 603-4015.
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 Benefitsolver.
- From work: Visit the Benefits SharePoint webpage and click on "Benefitsolver."
- From home: Log in to Benefitsolver with your Benefitsolver username and password. If this is your first time using the portal, select “First Time Here” and register as a new user. Company Key is "Synopsys."
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: $3,850 per year Synopsys contribution: None | Your contribution limit: $3,350 per year Synopsys contribution: Up to $500 | Your contribution limit: $3,100 per year Synopsys contribution: Up to $750 |
Employee + 1 or more dependents | Your contribution limit: $7,750 per year Synopsys contribution: None | Your contribution limit: $6,750 per year Synopsys contribution: Up to $1,000 | Your contribution limit: $6,250 per year Synopsys contribution: Up to $1,500 |
You can increase or decrease the contributions to your HSA at any time during the year.
For detailed summaries and legal disclosures, visit the Legal Notices page.