Health

Health Savings Account

If you enroll in the SavingsPlus HSA plan, you have the option of making pre-tax contributions to a Health Savings Account (HSA). The HSA is administered by Inspira. Following are important details about participating in a Health Savings Account.

Important information about participating in the HSA Option - See Publication 969 for additional IRS information related to Health Savings Accounts:

HSA as a pre-tax savings vehicle*

You can use the money to pay for eligible health care expenses today or save it for the future.
Distributions used for expenses other than qualified medical expenses are subject to both taxation and an additional 20% penalty unless you are at least age 65 or permanently disabled.
Any unused funds, including the Broadridge contributions, are yours and can be used for expenses into retirement.

Broadridge Contribution

Broadridge makes a quarterly contribution to your HSA based on your coverage election under the SavingsPlus Plan, totaling up to:
- $500 for the year if you cover yourself only
- $1,000 if you cover at least one other dependent
The Broadridge contribution is provided quarterly. You will receive the contribution the calendar quarter after you enroll.
You do not have to make your own contributions to the HSA to receive the Broadridge contribution
If you want to receive the Broadridge quarterly contribution for the Health Savings Account (HSA) make sure you do not “waive” this coverage, either:
- Set your goal amount to make your own contributions to the HSA, and you will automatically receive the quarterly Broadridge contribution; or
- Elect and set your annual goal to $0 establishing no contributions being made by you, however this will allow the quarterly Broadridge contributions to be made

Opening a Inspira HSA

You must open a Inspira HSA to receive the Broadridge contribution and make your own contributions through your Broadridge pay (this step must be completed in the benefits enrollment portal – through the login button on the homepage)
If you have questions about how to “agree” to open a Inspira HSA, please contact the Benefits Service Center, 1-877-631-0059

Eligibility to participate in an HSA*

Eligibility to participate in an HSA is linked to your election under the SavingsPlus Plan option, which is a qualified high deductible health plan.
In addition, under the Internal Revenue code, to contribute to an HSA you:
- Cannot have other coverage that pays for out-of-pocket health care expenses before you meet your plan deductible
- Cannot be enrolled in Medicare, Medicaid, or Tricare
- May not be claimed as a dependent on another person’s federal tax return
- Cannot participate in a full Health Care FSA. For associates enrolled in the SavingsPlus Plan option, Broadridge offers a Limited Purpose Health Care FSA (LPFSA) that can be used to pay for dental and vision expenses, but not medical expenses (details above)

IRS Limits*

The IRS sets the maximum contribution limits to your HSA each year.
For 2025 the IRS limits (including the Broadridge contribution) are:
- $4,300 for Individual coverage (2024 Individual coverage $4,150)
- $8,550 for Family coverage (2024 Family coverage $8,300)
Eligible individuals who are 55 or older by the end of the tax year can increase their contribution limit up to $1,000 a year

Limited Purpose Health Care Flexible Spending Account

If you enroll in the SavingsPlus HSA, you may also contribute to a Limited Purpose Health Care Flexible Spending Account (LPFSA) in addition to a Health Savings Account.
The LPFSA can be used for dental and vision expenses only.
Note that with the LPFSA, you must use your funds each year or any unused balance does not carry over.
Compare HSAs and FSAs

* This information is not intended to provide you with personal tax or financial planning advice. Broadridge does not guarantee, and does not have any responsibility for the tax, legal, or other implications of an individual’s participation in or contributions to an HSA. It is recommended that you review your individual situation with your personal tax advisor.

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