Health Savings Account
A Health Savings Account (HSA) is a powerful financial tool available to employees who elect our High-Deductible Health Plan (HDHP). It is a personal bank account that allows you to save pre-tax dollars for current and future medical, dental, and vision experiences.
The “Triple Tax Advantage”
Berea College Employer Contributions
One of the biggest perks of the HDHP is that Berea College puts money into your account for you! These funds are deposited with your first payroll in July.
Note for New Hires: Employees hired on or before June 30th of the current fiscal year receive the full contribution in January. Employees hired on or after July 1st receive 50% of the annual employer contribution.
HSA Plan Details (2026 IRS Limits)
| Feature | Single Coverage | Family Coverage |
| Annual Contribution Limit | $4,400 | $8,750 |
| Age 55+ "Catch Up" | $5,400 | $9,750 |
| Rollover Provision | Unlimited( Funds never expire) | Unlimited (Funds never expire) |
| Portability | You keep the account if you leave. | You keep the account if you leave. |
Frequently Asked Questions
To contribute, you must be enrolled in the HDHP. You are not eligible if you are enrolled in Medicare/Tricare or if you (or your spouse) contribute to a General Purpose FSA.
Yes! Unlike the FSA, you do not need a qualifying life event. You can increase or decrease your payroll deduction at any time by changing your contribution on BSwift.
Unlike the FSA, HSA funds are only available as they are deposited. However, if you pay out-of-pocket, you can reimburse yourself later once the funds have accumulated in your account, as long as the account was open when the expense occurred.
You can pay for qualified expenses or yourself, your spouse, and your dependent children. You can also use it for a domestic partner if they are considered a legal tax dependent