- CU Health Plan - High Deductible members can enroll in a Health Savings Account or update their contributions in the employee portal. Enrollment in the employee portal will close on Dec. 4. However, you may enroll or adjust your contributions at any time by calling a benefit professional at 303-860-4200, option 3 or completing a Health Savings Account (HSA) Authorization form.
- Contributions you select will begin Jan. 1, 2021.
- You cannot make additional changes to other CU-offered benefits at this time.
What is a Health Savings Account?
Administered by Optum Bank, a Health Savings Account (HSA) allows you to pay for qualified health care expenses now or in the future. HSAs offer three tax benefits: Tax-free saving, growth and spending on qualified health care expensesEligible ExpensePurchases or services received that are allowed by the benefit provider and complies with IRS regulations. anytime from today throughout your retirement.
How to enroll
- Log in to your employee portal.
- Open the CU Resources dropdown menu and select Benefits & Wellness.
- Click the Benefits Enrollment tile.
2021 IRS contribution limits
- $3,600 for single coverage
- $7,200 for family coverage (2+ members)
- $1,000 additional for employee age 55 or older
When you enroll during HSA enrollment, divide your annual contribution by 12 to determine your monthly payroll deduction.
- If you are enrolled in CU Health Plan - High Deductible, single or family coverage, you are eligible to enroll.
- If you have any other medical plan coverage (that is not an IRS qualified High Deductible plan including Medicare or TRICARE), are claimed as a dependent on someone else's previous year tax return or currently contributing to a health care Flexible Spending Account (HCFSA), you are ineligible to enroll.