Introducing the HSA
This year, Dallas ISD offers staff who have chosen a high deductible plan the opportunity to enroll in a Health Savings Account, or HSA. Like the Flexible Spending Account, it will allow you to set aside funds for eligible health care expenses like doctor visits, prescriptions, and dental and vision care. Eligible expenses are determined by the IRS and can be viewed in detail Publication 502.
To participate in this new savings plan, you have to enroll in the TRS ActiveCare HD plan to qualify. You find out more about the medical plans available to staff by visiting www.dallasisd.org/benefits.
Like with an FSA and other health-related savings accounts, there are limits to how much you can contribute each year. Individuals age 55 or older and not yet enrolled in Medicare can make an additional “catch up” contribution of up to $1,000 per person each year.
Coverage Maxium Amount
Individuals $3,600
Family $7,200
Unlike other health savings accounts, funds in the HSA that you don’t use by the end of the year can roll over to the following enrollment year.
You can have both and HSA and an FSA. But you should note that if you do have both, you can use the HSA only for your medical expenses and your FSA only for vision and dental expenses.
Another exciting feature of an HSA is that you can invest your funds. You will have the option to choose from an extensive list of mutual funds to increase the value of funds that you can hold in your account.*
Ready to get enrolled? It all starts in the Benefits page at www.dallasisd.org/benefits, your one-stop-shop for all benefits information and links.
If you have questions or need help, assistance is close by. Just call (972) 925-4000 weekdays from 7:30 a.m. to 5:30 p.m. and Spanish- and English-speaking representatives will be available to guide you through the choices and the enrollment process.
For additional information you can also look at the Benefits Overview Guide.
*Note: Investment products are not FDIC insured, and are not bank issued or guaranteed. They are subject to risk, including fluctuations in value and the possible loss of the principal amount invested.
