Health Savings Accounts (HSA)
The University of Alaska offers a health savings account (HSA) to employees enrolled in a qualifying health plan, like the UA Choice Consumer Directed Health Plan (CDHP). This plan allows you to save money on a pre-tax basis for qualified health expenses now and in the future. Funds in this account are never forfeited and can grow over time. Once you've saved at least $1,000, you can invest your funds in various mutual funds for greater growth opportunities. The university's HSA is managed by Bank of America.
Beginning in 2018, the HSA will be a calendar year plan to make it easier to manage your total contributions to the plan. More information is available in this Q and A document, and in the links below.
UA recently hosted a series of webinars on the Health Savings Account. Click here for a recorded version of an informational webinar explaining everything you need to know about the Bank of America HSA.
Do you need to update your HSA contributions? Please use the online HSA Enrollment form to make changes to your contributions. Click this link to be redirected to the HSA form. Do not use this form if you want to make other changes to your benefit elections due to a life event or as a recently hired employee.