Health Savings Account (HSA)

For Aetna PPO + HSA plan members only.

The HSA helps you pay for expenses now—like that higher deductible, prescription drugs, or other medical costs. But it’s also set up to help you save for future health care costs, even in retirement.

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IRS Eligible Expenses

Video: What is an HSA and How Does It Work?

How It Works

1

THE ART INSTITUTE
CONTRIBUTES
If you contribute at least $1 to your HSA, the Art Institute will deposit a tax-free employer contribution into your HSA account following your eligibility date for the Aetna PPO + HSA Plan: $500 for Employee Only coverage and $1,000 for Employee + 1 Dependent or Employee + Family coverage.

THE ART INSTITUTE CONTRIBUTES1*
If you contribute at least $1 to your HSA, the Art Institute will deposit a tax-free employer contribution into your HSA account following your eligibility date for the Aetna PPO + HSA Plan: $500 for Employee Only coverage and $1,000 for Employee + 1 Dependent or Employee + Family coverage.

2

YOU CAN (AND SHOULD) CONTRIBUTE , TOO
Contribute pre-tax up to $3,900 for Employee Only or $7,750 for Employee + 1 Dependent and Employee + Family for 2026, based on IRS limits and the Art Institute's contribution. If you're age 55 or older, you can contribute up to $1,000 more.

3

WATCH IT GROW
Your money grows tax-free while it’s in your account.

4

EASY TO USE
Use your HSA debit card to pay for eligible expenses such as deductibles, doctor visits, prescriptions, dental and vision costs, and more.

5

SAVE FOR RETIREMENT
In most cases, you can use your HSA for eligible expenses once you retire. You can also invest your HSA funds in investment options once your balance reaches $1,000.

6

YOURS TO KEEP
Any remaining balance at the end of the year rolls over to the next year. If you ever decide to switch plans or even leave the Art Institute, that money in your HSA is yours to keep.

How to Get the Most from an HSA

Manage your deductible and other out-of-pocket costs

You generally must meet your annual deductible before the plan begins paying coinsurance toward your medical and prescription drug expenses.

Each time you have these expenses, you decide whether to pay out-of-pocket and let your HSA grow, earning interest for future eligible expenses, OR use your HSA.

Contribute as much as you can to maximize your tax savings

The Aetna PPO + HSA plan costs less per paycheck than the other plans. Consider putting those paycheck savings in your HSA.

Monitor your account balance

To avoid overdraft fees, make sure you have sufficient money in your account before making a withdrawal. If you don’t have enough money in your HSA to cover your eligible expense, you can pay the expense out of pocket and reimburse yourself later.

Use your HSA only for IRS-qualified expenses

Examples include medical, dental, and vision deductibles, coinsurance, and copayments, as well as prescription drugs. If you use your HSA for non-qualified expenses before age 65, those dollars will be subject to income taxes and an additional 20% excise tax. Beginning at age 65, you can use HSA funds for everyday spending, but you will still be taxed.

Invest your savings in your account

As with any retirement account, you can invest your HSA savings in mutual funds intended to grow over time.

Always keep your receipts!

It’s a good idea to keep your receipts in case you ever need to provide proof that an expense was eligible.