Health Savings Account

This is an account that accompanies the Green or Orange plans. You elect to open this account when you enroll. Assurant contributes to your account and you also can elect an amount to contribute to your HSA that will be deducted from your paycheck before taxes — that's tax-free savings for health care expenses. You can use your account to pay eligible health care expenses, such as your deductible and coinsurance for health and dental plans. If you don't use the money in your account by the end of the year, the balance rolls over to the next year. All HSA contributions are tax-free when you use them for qualified health care expenses.

The money in your HSA always belongs to you. Also, with the HSA you can:

Choose to save all or part of the money each year for future health care expenses, and take the HSA with you if you leave Assurant (but you will be responsible for all account fees).

If you want to participate in either the Green or Orange plan but don’t qualify for an HSA, please submit a request via ERIN within four days of enrollment to avoid any adverse tax consequences. Please note: If you maintain an HSA that is not affiliated with current enrollment in an Assurant health plan with an HSA such as the Green and Orange plans, you are responsible for paying the monthly account fee and any other fees. Assurant will not cover fees related to any HSA if you are not enrolled in the Green or Orange plan.

Company Contributions

The 2025 maximum annual contribution limit $4,300 for employee-only and $8,550 for family. For 2024, the HSA employee-only maximum is $4,150 and the family maximum is $8,300.

Assurant will contribute $500 for individual coverage and $1,000 for family coverage on your behalf, so be sure to include those amounts when calculating your personal contributions. The company contribution will be deposited into your HSA a few days after your first pay period once your HSA is in effect. You must open an HSA to receive the Company contribution. Additional information about calculating your personal contributions is available in the MyHR enrollment process. 

Note: For December new hires, Assurant will deposit the annual contribution to your HSA in late January for the following plan year only.

Employee Contributions

You also may elect to contribute to your HSA on a pre-tax basis. Unlike other pre-tax benefits, you can start, stop or change your HSA contributions at any time during the year through MyHR. There are IRS limits to the amount of money you can contribute into your HSA in a year. The maximum amount you can contribute via payroll deductions is the annual IRS maximum less the amount of company contributions and wellness incentives paid to you.

Health Savings Account (HSA) Contributions

Review the maximum contribution amounts for 2024 and 2025 Health Savings Account (HSA) in the table below below. Reminder: Assurant also contributes to your HSA. Look for the deposit into your HSA a few days after your first pay period once your HSA is in effect. In 2025, you must be 55 by Dec. 31, 2025, for $1,000 catch-up contributions. In 2024 to be eligible for the $1,000 catch-up contributions you must be at least 55 by Dec. 31, 2024. 

* At the time of your initial enrollment, half of Assurant’s HSA contribution will be deposited into your HSA account as a lump sum as soon as administratively feasible while the remaining portion will be prorated and deposited on a biweekly basis. Assurant’s enrollment system, MyHR, only displays the biweekly contributions and doesn’t reflect the lump sum portion of the company contribution. 

¹Contributions that exceed the IRS maximums are not tax deductible and are subject to a 20% excise tax. Company contributions and earned wellness rewards are included within the maximum contribution limit.

²"Family" includes Employee & Spouse/Domestic Partner, Employee & Child(ren) and Employee & Family.

Assurant will pay monthly account maintenance fees for employees enrolled in the Green or Orange plan with an HSA. If you have an HSA through another administrator, you will be responsible for all fees associated with that HSA.

You are not required to contribute to an HSA to receive the company contribution or to participate in the Green or Orange plan. Depending on your personal finances, consider contributing at least enough so that your contribution, when combined with the company’s contribution, will cover your annual deductible. Using pre-tax dollars to meet the annual deductible means tax savings for you. If you are currently in the Green or Orange plan and you choose to enroll in the Purple or Blue plan or waive health plan coverage, you’ll be charged a $2.50 monthly maintenance fee if you have funds remaining in your HSA.

Anthem is the administrator for your HSA. You'll be charged a fee of $1.50 per quarter for paper statements. You can go green and save by logging into Anthem.com to elect to receive your statement electronically.

If you enroll in the Green or Orange plan option and are eligible for an HSA, you will receive a debit card from Anthem.com in the mail. To access your HSA funds:

• You can use your debit card to pay for eligible expenses such as prescriptions, deductibles and coinsurance as long as you have funds available in your account.
• Through Anthem.com, you'll also be able to pay for your eligible out-of-pocket expenses directly from your online account.

Note: If you also enroll in a Limited Purpose FSA, when you use your debit card for an over-the-counter expense, it will automatically pay from your HSA account. To have this amount pay from your Limited Purpose FSA, you must submit an itemized receipt for the transaction. You can call Anthem's customer support at 1-855-285-4212 and they can assist with this process.

To be eligible for an HSA, you must meet the following criteria:

• Have a qualified high deductible health plan (such as the Green or Orange plan).
• Have no other health coverage except what is permitted as other health coverage by the IRS.
• Not be enrolled in Medicare.
• Not be claimed as a dependent on someone else's tax return.
• Not have access to dollars in a General Purpose Flexible Spending Account (FSA) that can pay for any medical expenses before the HSA’s required deductible is met, including a spouse’s Health Care FSA. Limited Purpose FSAs are acceptable other coverage.

If you enroll in a Green or Orange plan with an HSA, but are ineligible for an HSA, you must submit a request via ERIN within four business days of your coverage effective date to opt out of the HSA and avoid any adverse tax consequences.

You must be eligible and open an HSA to receive the Company's contribution.

This is an account that accompanies the Blue plan and will be eliminated on December 31, 2024. Your account is used to pay for eligible health care expenses, such as your deductible and coinsurance. Anthem and Caremark automatically draw funds from your account to pay for your eligible health care expenses, as long as you have a balance, before calculating your out-of-pocket cost. If the money in your account is not used by the end of the year, the balance rolls over to next year.

Company Contributions

Assurant contributes $500 for individual coverage ($1,000 family) to this account.*

• Assurant’s contribution to the Health Reimbursement Account (HRA) will be eliminated but the annual deductible for in-network and out-of-network services will be lowered by the same amount ($500 for Individual Coverage and $1,000 for Family Coverage). This will simplify managing your health care expenses.
• If you currently participate in the Blue plan and enroll again for 2025, any funds remaining in your HRA at the end of 2024 will be rolled over to 2025 only and can be used throughout the year.
• As is the case today, if you choose to enroll in another Assurant health plan for 2025 and have any funds remaining in your HRA at the end of 2024, they will be forfeited.

Employee Contributions

You are not allowed to contribute to the account.

* At the time of your initial enrollment, half of Assurant’s HRA contribution will be deposited into your HRA account as a lump sum as soon as administratively feasible while the remaining portion will be prorated and deposited on a biweekly basis.