Health Savings Account (HSA)

A Health Savings Account is designed to reimburse eligible healthcare expenses with money from your earnings that is not subject to federal income or Social Security taxes. The amount elected by the employee is deducted from his or her paycheck before taxes. Incurred eligible expenses are paid by the employee and submitted to Bethel's health savings account provider. Reimbursements are processed in tax-free dollars.

In order to enroll for a Health Savings Account, the employee must be participating in the High Deductible Health Plan. Enrollment must be completed by each eligible employee on a timely basis. Unlike the Flexible Spending Accounts, the funds in a Health Savings Account never expire. Employees can use their HSA to pay for eligible expenses incurred any time after they opened their account.