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Health savings account (HSA)

What is an HSA-qualified high-deductible health plan (QHDHP)?

A health savings account (HSA) is a tax-advantaged savings account that allows you to set aside pre-tax dollars for current and future health care expenses for you and your dependents. You are eligible to open an HSA if you are enrolled in an HSA-qualified high-deductible health plan.

Eligible expenses include copays, deductibles, coinsurance, dental exams, X-rays, orthodontia, vision exams, frames, contact lenses physical therapy and chiropractic care, over-the-counter medications, and more.¹

There’s a maximum amount that you can contribute to you HSA each year and accountholders aged 55 and older may contribute an extra $1,000 annually as a catchup contribution. (See IRS publication 969 for more information.) Unused funds remain in the account year to year, can be invested, and grow tax-free — turning the HSA into a long-term investment vehicle that helps you save for future healthcare expenses.^{2, 3}

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How does an HSA work for you?

With your HSA, you can:

Use your funds to pay for current health care expenses
Preserve your funds for tax-free growth³
Invest your funds for long-term savings

Per IRS guidelines for 2026, a QHDHP is a health insurance plan with a minimum deductible of $1,700 (for self-only coverage) or $3,400 (for family coverage), and an annual out-of-pocket cost (including deductibles and copays) that cannot exceed $8,500 (for self-only coverage) or $17,000 (for family coverage). HDHPs have first-dollar coverage or no deductible for preventive care and higher out-of-pocket costs (copays and coinsurance) for out-of-network services.

What are the benefits of an HSA?

There are many benefits to opening an HSA:

HSA-eligible health plans typically have lower monthly premiums, allowing you to contribute those savings to an HSA.
Unused funds stay in your account from year to year and earn interest tax-free3, so you can choose the interest rate option to meet your needs — high-yield or traditional.
The high-yield interest option can help you earn higher interest on your HSA cash balance.
Money goes in tax-free and grows tax-free, and withdrawals are tax-free if used on eligible expenses.³

How do I set up an HSA?

It’s easy to get started with your HSA. If you open your HSA through AmeriHealth, you can easily access your account, view your activity, and even pay in-network providers by logging in to the member portal at amerihealth.com/login. You also have the option to set up an HSA with another vendor.

Once you get your HSA set up, you will receive a welcome letter and an HSA debit card in the mail. Your debit card needs to activate your debit card prior to first use.

How do I put money in an HSA?

You can make tax-deductible contributions to your HSA from your personal bank account. Connecting a checking or savings account to your HSA allows you to transfer funds easily from one account to another, making it easier for you to contribute to your HSA or reimburse yourself from your HSA for eligible purchases.

Are there HSA contribution limits once I open an account?

Yes, there are limits on the amount that you may contribute to an HSA. These limits are set by the IRS and are updated annually. For 2026, the HSA contribution limits are:⁴

$4,400 for individual coverage
$8,750 for family coverage
$1,000 in additional catch-up contributions for individuals aged 55 and older

You can decide how to contribute to your HSA (one time or multiple times throughout the year) as long as you don’t exceed the maximum allowable annual contribution.

How do I pay for health care with an HSA?

You can use your HSA debit card at the point of service, or you may use an alternative form of payment and then self-reimburse from the HSA the using the member portal.

How do I invest my HSA contributions?

You can use your HSA to help you build a nest egg for retirement. Once your HSA Cash Account reaches $500, you can open an optional investment account allowing you to invest a portion of your HSA funds.²

To learn more about how to open an investment account and view the investment fund list, go to the Spending Accounts section of your member portal at amerihealth.com/login.

How do I manage my HSA?

If you have an HSA through AmeriHealth, you get instant access to your account by logging in at amerihealth.com/login. Once there, you can:

View account balance and activity
Submit qualified expenses for reimbursement
Make contributions
Invest your HSA and view investment activity
Sign up for direct deposit
View important alerts and communications

Who do I contact with HSA questions?

If you have any questions or concerns about your HSA or questions about health savings account rules, please call Spending Account Services Monday ‐ Friday, 8:00 a.m. ‐ 8:00 p.m. ET, using the phone number noted on the back of your HSA debit card: 1-833-283-7695.

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This information is provided as a general reference. IBX does not offer banking, investment, or financial services. This information is not intended to provide legal or tax advice. Please talk to your tax advisor about the tax implications of an HSA.

1 Refer to IRS publications 502 for more information on what the IRS considers a qualified medical expense. This publication is available at IRS.gov.

2 Investing may not be suitable for everyone. The balance in the HSA investment account is subject to investment risks, including fluctuations in value, and the possible loss of the principal amount invested; investments are not FDIC or NCUA insured. Investing is subject to the terms. Investing through the WealthCare Saver investment platform is subject to the terms and conditions of the Health Savings Account Custodial Agreement and any applicable investment supplement(s).

3 Tax savings are at the federal level. State tax policies vary. Contributions to an HSA are tax-deductible at the federal level, but the treatment of HSAs varies at the state level. In New Jersey, HSA contributions are exempt from state income tax. Therefore, although employee contributions to an HSA will be pre-tax for federal income tax purposes, contributions will be after-tax for state income tax purposes in New Jersey. Accountholders will also not receive the same tax-free growth as provided at the federal level.

4 These amounts are adjusted annually — the amounts shown are for 2026.