G.E.H.A puts money in your HSA with our HDHP
With G.E.H.A’s HDHP plan, you receive tax-free money in a health savings account (HSA) each year that can be used to lower your deductible and pay for qualified medical expenses. With HSA contributions, you may be able to lower your yearly health care costs.
Watch the video and explore this page to learn more about the benefits of an HSA.
What is a health savings account?
A health savings account (HSA) is similar to your own personal savings account but with the added advantage of being able to use the money you save tax free for qualified medical expenses and investments. Additionally, an HSA has a triple tax advantage not found through other benefit plans and G.E.H.A provides yearly contributions for HDHP plan members.
With the G.E.H.A HDHP plan, most members become eligible for an HSA and qualify for contributions provided by G.E.H.A. To learn more, visit the FEHB HDHP plan page or the PSHB HDHP plan page. For more on eligibility, see IRS Publication 969.
How you can use the money in your HSA
There are many ways you can use the money you've accrued in your HSA for qualified medical expenses.
- Use funds for current medical expenses: This can lower your yearly deductible.
- Save or invest any unused money: Use this money for future qualified medical expenses.*
- After 65, use the funds like you would an IRA: After 65, funds become available for use on any expense.
*Withdrawals made for other purposes will be subject to income taxes.
With G.E.H.A's HSA contribution, HDHP is the high deductible health plan with a lower-than-expected deductible.
| Yearly deductible In-network1 | G.E.H.A HSA contribution | You pay2 | |
|---|---|---|---|
| Self Only | $1,650 | $1,000 | $650 |
| Self Plus One Self and Family |
$3,300 | $2,000 | $1,300 |
1 In-network providers agree to limit what they will charge you. You pay a fixed dollar amount or a percentage of the provider’s negotiated amount.
2 The net deductible is the remaining amount after you subtract the annual G.E.H.A contribution from the annual deductible. This is your out-of-pocket cost before plan benefits begin.
Benefits of an HSA:
- You own the account and can take it with you when you change plans, change jobs or retire
- Any unused money rolls over year to year
- Accounts are provided by HSA Bank with access to investment services
- You can make additional tax-deductible deposits
- Enjoy tax-free withdrawals for qualified medical expenses
- G.E.H.A pays your account setup fee and monthly maintenance fee
HSA qualified medical expenses
G.E.H.A provides affordable benefits for a wide variety of qualified medical, dental and vision expenses for federal employees. This includes but is not limited to:
- Acne medicine
- Ambulance
- Cold and flu medicine
- Contact lenses and solutions
- Dental treatments
- Eye drops
- Eyeglasses (Rx and reading)
- Flu shots
- Hearing aids and batteries
- Ibuprofen
- Insulin
- Over-the-counter medicines and drugs
- Physical therapy
- Surgery
- Vision exam
Explore the more detailed list of qualified medical expenses covered by an HSA.
Do you qualify for an HSA?
You may qualify for an HSA as long as you are:
- Over the age of 18
- Enrolled in a qualified high deductible health plan (HDHP)
- Aren’t enrolled in Medicare
Timing for deposits to your HSA
For most active federal employees who enroll during Open Season, the first monthly HSA deposit will be available as early as February 15, 2025. After that date, a portion of your plan premium will be deposited into your HSA account each month.
Learn how to grow unused money in your HSA
If you don’t use the money in your HSA for current qualified medical expenses, the money may be invested and allowed to grow over time in an interest-bearing savings account or invested in stocks, bonds and mutual funds. This money can be withdrawn and used at any time for qualified medical expenses with no penalty.
Tax advantages of an HSA
Learn how your HSA contributions can lower your taxable income
Contributing money to your HSA not only helps you save for medical expenses now and in the future, it can provide financial security and some major tax advantages too. Your HSA has a triple tax advantage which includes:
- Pay no tax on the money you put in and lower your yearly taxable income
- Choose to invest your funds and watch them grow. Any interest gained is tax-free.
- Never pay taxes for withdrawals used for qualified medical expenses
When you enroll in Medicare, you no longer qualify for an HSA. That’s why G.E.H.A creates an HRA for you to help you pay for qualified medical expenses. The good news is you still have access to your HSA funds for qualified medical expenses, too.
Can I make post-tax contributions to the HSA?
You can make post-tax contributions directly into your HSA and claim them as a tax deduction. Total 2025 HSA contributions, including G.E.H.A’s contributions to your HSA, cannot exceed:1
- $4,300 for Self Only, $8,550 for Self Plus One or Self and Family
- Plus $1,000 in "catch up" contributions for individuals age 55+
1 For 2025, a monthly premium pass through that is not a whole will have any remaining balance included in the final monthly contribution.
Can I make additional contributions to the HSA through payroll deductions?
In addition to G.E.H.A’s regular monthly contributions, you may make additional pre-tax HSA deductions from your paycheck up to IRS limits the same way as other deductions (e.g., Employee Express, MyPay, etc.). Money is taken out on a pre-tax basis and reported as such to the IRS at tax time by both your employer and HSA Bank.
Your account is managed by HSA Bank. You will activate and manage your HSA online through the HSA Bank member website.
Naming a beneficiary to your HSA
If you name your spouse as beneficiary, your spouse can elect to treat the HSA as their own. In such case, your spouse will not owe taxes or penalties provided they use the HSA for qualified medical expenses. If you designate a non-spouse beneficiary, they must take a distribution of the funds. A non-spouse beneficiary will have to pay income tax on the amount received but will not have to pay a penalty tax.
- If you have named a beneficiary on your HSA, the money will go to your beneficiary
- If you have not named a beneficiary and you are married, your HSA becomes your spouse’s
- If you have not named a beneficiary and you are not married, then your HSA becomes part of your taxable estate
Articles and webinars
We want to make understanding health savings accounts as easy as possible. Learn more about the benefits of an HSA with the helpful content listed below.
Have you ever considered a High Deductible Health Plan? –
Part 1 of 4
HDHP is the bridge to Health Savings Account –
Part 2 of 4
Read the article
Triple tax advantaged Health Savings Account (HSA) –
Part 3 of 4
Taking your HDHP into retirement –
Part 4 of 4
Ready to enroll?
This is a brief description of the features of Government Employees Health Association, Inc.’s HDHP health plan. Before making a final decision, please read the HDHP federal brochure available at geha.com/PlanBrochure. All benefits are subject to the definitions, limitations and exclusions set forth in in the federal brochure.
Investment products are not FDIC insured, are not a deposit or other obligation of or guaranteed by HSA Bank and are subject to investment risks. The information provided is for informational purposes only. It should not be considered legal or financial advice. You should consult with a professional to determine what may be best for your individual needs.
See IRS Publications 502 and 969 for more information regarding qualified medical expenses, health savings accounts, and health reimbursement arrangements.
Let our benefits experts help you choose a G.E.H.A plan that can work for you.
By phone: Available 7 a.m.–7 p.m. CT
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More ways to contact us
More ways to contact us
Health questions: 1-800-821-6136
Dental questions: 1-877-434-2336