Health Savings Account (HSA) definition

Health Savings Account (HSA) means a health savings account established under Code §223. Such arrangements are individual trusts or custodial accounts, each separately established and maintained by an Employee with a qualified trustee/custodian.

Health Savings Account (HSA) means an account created as part of a High Deductible Health Plan. The money placed in this account can be used to pay for covered health care costs or saved for future health care costs. The account grows interest.

Health Savings Account (HSA) means a tax-exempt trust or custodial account that is set up with a qualified HSA trustee to pay or reimburse certain incurred medical expenses, as defined in 26 U.S.C. Sec. 223(d) and IRS Publication 969.¶

Examples of Health Savings Account (HSA) in a sentence

• Annually the Board shall deposit into a Health Savings Account (HSA) the following amounts for employees utilizing the plan: 8 hours/day: $2,000.00 Above 5 hours up to but less than 8 hours/day: $1,200.00 Above 3 hours up to 5 hours/day: $ 900.00 Up to 3 hours/day: $ 600.00 One half of this deposit shall be made by January 31, of each calendar year and the second half by July 31.

• In the event the employee elects HDHP and the premium is less than the “applicable percentage” of the cost of T-PPO and the employee elects to make contributions to a Health Savings Account (HSA), the Board will match such HSA contribution in an amount not greater than 50% of the difference between the “applicable percentage” of the cost of T-PPO and 100% of the cost of HDHP.

More Definitions of Health Savings Account (HSA)

Health Savings Account (HSA) means the bookkeeping account maintained by the HSA Administrator/Trustee/Custodian used for crediting contributions and accounting for benefit payments. "HSA Administrator/Trustee/Custodian" Insured banks and credit unions are automatically qualified to handle HSAs. Any bank, credit union or any other entity that currently meets the IRS standards for being a trustee or custodian for an IRA or Archer Medical Savings Account (MSA) can be an HSA trustee or custodian. The law also allows insurance companies to be HSA trustees or custodians.‌

Health Savings Account (HSA) means the bookkeeping account maintained by the HSA Administrator/Trustee/Custodian used for crediting contributions and accounting for benefit payments.

Health Savings Account (HSA). The HDHP will include a Health Savings Account (HSA). The City will contribute fifty percent (50%) of the employee’s In-Network deductible to the employee’s HSA. In Fiscal Year 2017-18, the City’s fifty percent (50%) contribution will be paid as follows:  Fifty percent (50%) of the City’s total contribution amount in July 2017.  Twenty-five percent (25%) of the City’s total contribution amount in January 2018.  Twenty-five percent (25%) of the City’s total contribution amount in April 2018. In Fiscal Year 2018-19 and each year thereafter, the City’s contribution will be paid into the employee’s HSA in equal installments on a quarterly basis. Effective January 2021, funding of the City’s contribution to the Bargaining Unit Members’ Health Savings Account will be deposited on a semi-annual basis in January and July.

Health Savings Account (HSA) means a Health Savings Account established under Code §223. This type of account is an individual trust or custodial account. It is established and maintained separately by an individual with a qualified trustee/custodian.

Health Savings Account (HSA) means a tax-exempt trust or custodial account established under federal tax law with a qualified HSA trustee to pay or reimburse qualified medical expenses incurred by an eligible individual.