Author: Nikki Brown – Corporate Director of Accounting
Are You Enrolled in Harmony’s Health Equity Plan?
If not, here’s why you should consider it! By enrolling and contributing to a Health Savings Account (HSA), you gain valuable financial and healthcare benefits:
Top Benefits of an HSA:
- Triple Tax Advantages
- Tax-Free Contributions: Deposits reduce your taxable income.
- Tax-Free Growth: Your balance grows without tax penalties.
- Tax-Free Withdrawals: Use funds for qualified medical expenses without paying taxes.
- Covers Rising Healthcare Costs
- Helps pay for copays, prescriptions, doctor visits, dental, and vision care.
- Your Money Rolls Over
- Unlike an FSA, unused funds stay in your account year after year.
- Portable & Flexible
- Your HSA follows you, even if you change jobs, switch plans, or retire.
- Doubles as a Retirement Fund
- After age 65, you can withdraw for any reason (non-medical withdrawals are taxed).
- Grows Through Investments
- Many HSAs let you invest in mutual funds, stocks, or ETFs for long-term savings.
- Cushions High-Deductible Plans
- Helps cover out-of-pocket costs before your insurance kicks in.
- Covers Family Medical Costs
- Use your HSA funds for your spouse and dependents—even if they’re not on your plan.
- Reduces Financial Stress
- Protects you from unexpected medical expenses without dipping into savings.
- Can Help Lower Insurance Premiums
- HSAs pair with High-Deductible Health Plans (HDHPs), which often have lower premiums.
2025 HSA Contribution Limits
- $4,300 for individuals
- $8,550 for families (Includes EE + dependent and EE + spouse plans)
- $1,000 extra for those 55+ (catch-up contribution)
💡 To participate, you must be enrolled in Harmony Hospitality’s Health Equity Insurance Plan. Check with HR or your supervisor for details!
