Health Savings Account 2024
Open Enrollment is now closed. If you have questions about your benefits or would like to make changes to your benefits due to a qualified life event, please contact the HR Solution Center at AskHR@virginia.edu.
All active, benefits-eligible employees enrolled in Basic Health are also enrolled in, and must be eligible for, a Health Savings Account (HSA). HSA funds can be used for eligible health care, prescription, dental, and vision expenses. HSA funds roll over each year and are yours to keep for future health care costs.
Takeaways
2023 elections for FSAs and HSAs will NOT automatically carry over to 2024.
- If you choose to not complete your Open Enrollment event and you had an HSA, your benefit will be elected with employer contribution, but with $0 employee contribution.
- If you choose to not complete your Open Enrollment event and you had an FSA, you will not have access to an FSA in 2024.
HSA employee contribution limits have increased for 2024 (please note: limits are combined employee and employer dollars):
- Individual - $4,150 (from $3,850 in 2023)
- Family - $8,300 (from $7,750 in 2023)
- Catch-up (age 55+) - $1,000 (no change)
NEW: Enjoy these NEW personal video stories that explain how having an HSA influenced the speakers' decisions about selecting a health plan option during Open Enrollment: