GEHA puts money in your HSA with HDHP.

With GEHA’s HDHP plan, you receive tax-free money in a health savings account (HSA) each year that can be used to lower your deductible or 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, except the money you save can only be used to pay for qualified medical expenses. You own your HSA and decide what qualified medical expenses the money is used for. The money in your HSA is not taxed and you can contribute your own money to your HSA to grow your funds. You can only contribute to an HSA when you are enrolled in an HDHP and meet other eligibility requirements. Most people qualify for an HSA. For more on eligibility, see IRS Publication 969.

Explore the full list of qualified medical expenses to see what expenses are covered with the money from an HSA.




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 medical expenses.
  • After 65, use the funds like you would an IRA: After 65, funds become available for use on any expense.

With GEHA's HSA contribution, HDHP is the high deductible health plan with a lower-than-expected deductible.


Plan yearly deductible GEHA contribution Your yearly net deductible
Self Only $1,500 $900 $600
Self Plus One
Self and Family
$3,000 $1,800 $1,200

Benefits of an HSA account:

  • 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.
  • GEHA pays your account setup fee and monthly maintenance fee.

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, 2021. 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.1 This money can be withdrawn and used at any time for qualified medical expenses with no penalty.health savings account growth projections

1 Growth projections based on 6% annual rate of return with a 24% federal tax bracket, for example only. No guarantee on returns. Visit HSA Bank’s Savings Calculator.



Your HSA has a triple tax advantage, which includes:

  • Tax-free contributions lower your monthly taxable income.
  • Tax-free interest and earnings on investments grow your account over time.
  • Tax-free withdrawals for qualified medical expenses.2

2 See IRS Publications 502 and 969 for more information regarding qualified medical expenses, health savings accounts and health reimbursement arrangements.


Resources & quick links

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This is a brief description of the features of Government Employees Health Association, Inc.’s HDHP medical 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 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. Consult with a professional to determine what may be best for your individual needs.