Health Savings Accounts (HSA)
The University of ÐßÐßÊÓƵpartners with Bank of America to provide eligible UA employees access to a HSA.
HSA Plan Enrollment
- Benefit-eligible employees working a minimum of 20 hours per week
- Temporary Employees are not eligible (visit the temporary employee webpage for eligible benefits)
- Must be enrolled in the HDHP or other qualifying plan
Employees are responsible for understanding their own HSA eligibility. UA Benefits cannot assist employees in these cases as eligibility depends on coverages that exist for an individual outside the UA system.
New Benefit-eligible Employees
- Review the new employee webpage
- If no new employee form submitted, the employee will not be enrolled in an HSA (they will be defaulted into the Basic Health Plan which is incompatible)
Current Benefit-eligible Employees - Anytime
- Eligible employees can start, stop, or update the HSA at any time
- Complete the
Please note - if there are additional changes to benefit coverage outside of the HSA, these must be made in conjunction with the life event. Please review the qualifying life events page to understand life events and their deadlines. Late forms will not be accepted. The HSA is provided on the so employees who are experiencing a life event can complete the life event form to update all coverages - including the HSA.
Coverage Begin Dates
New Enrollment
- First of the following month
Updated Enrollment
- First of the next available pay period
Coverage End Dates
Contributions will End at the End of the Pay Period
- Coverage will end at the end of the pay period in which an employee (1) requests to stop contributions, (2) leaves the university, or (3) becomes ineligible (i.e. by enrolling in a non-HDHP during a life event or Open Enrollment)
HSA Funds Can be Used Later
- HSA funds can be used when on a non-qualified plan
- The IRS stipulates when an employee can contribute to the account, not when they can use funds already contributed to the account