Providence Individual and Family HSA Plans

Providence Individual and Family Plans offers two high deductible health plan options (HSA 2500 and HSA 3500) that feature lower premiums and allow you to set aside tax-free dollars in a Health Savings Account or HSA.

What is a Health Savings Account (HSA)?

An HSA is a tax-exempt savings account that you can pair with one of our high deductible HSA plans. HSA plan options provide comprehensive health insurance coverage and by rolling over unused funds from year to year, you can save funds for future medical expenses and/or retirement.

Much like an Individual Retirement Account (IRA), an HSA is established through annual contributions by you. You can contribute up to 100 percent of your plan's deductible amount or up to the maximum contribution levels determined by the Internal Revenue Service each year.

Health savings accounts are managed by HSA trustees, usually a bank or other financial institution. You choose the bank that will administer your health savings accounts or for your convenience, we have partnered with U.S. Bank.

U.S. Bank will provide:

Monthly statements, either paper or online, showing your account activity.
Online and toll-free access to account information.
Mutual fund investment options for a portion of your HSA funds
An HSA debit card and checks for quick, easy payment of qualified medical expenses (QME). Please see www.irs.gov for a list of QMEs.