Health Savings Account

Highlights

  • Free $$ from Samsara—$1,000 for single coverage and $2,000 for other coverage. The Samsara contribution is prorated, so you’ll get a portion after each pay period.

  • Save up to $3,650 (single) or $7,300 (family) in 2022, including the contributions from Samsara.

  • No taxes on your HSA contributions, withdrawals, or investment earnings as long as the money is used to pay for qualified expenses such as prescriptions, doctor visits, and X-rays.

  • The freedom to choose how much—or little—to contribute to your HSA

  • Your balance rolls over from year to year; there is no use-it-or-lose-it rule.

  • You can invest your HSA money so it grows over time, much like your 401(k).

  • Money for eligible health care expenses that you can use now or save for later—and it’s yours to keep, forever!

HSA

Triple tax advantages

Yeah, we know talking about taxes isn’t fun. But talking about tax savings is, and that’s the best part of the HSA. You get to save in three amazing ways:

  • HSA contributions (up to the IRS limits) are 100% deductible from your federal gross income, which means your taxable income will be lower. And almost all states consider HSAs to be tax-deductible, except California and New Jersey.

  • You can invest HSA money so it grows over time, and the interest will not be subject to future income tax if used for qualified medical expenses.

  • As long as your HSA withdrawal is used for a qualified medical expense, it’s not subject to federal income tax.

Plenty o’ perks!

Manage your HSA account online through Forma (formerly Twic), or on the go, with these easy-to-use features:

  • HSA debit card: Use your debit card to pay for supplies that are not covered by your medical plan.

  • Reimbursement: If you pay out of pocket for a qualified expense, you can get reimbursed from your HSA at any time, without penalty.

  • Investments: You can invest your HSA money in a wide variety of investment opportunities, including mutual funds, stocks, and bonds.

FYI

A gift as great as an HSA doesn’t just fall into your lap. To be eligible, you have to meet all of these criteria:

  • Be enrolled in the Aetna HDHP

  • Not be covered under another medical insurance plan that is not HSA-eligible

  • Not have a Health Care Flexible Spending Account (FSA)

  • Not be enrolled in Medicare

  • Not be claimed as a dependent on someone else’s tax return

Making changes to your HSA

You can update your HSA contributions at any time by going to Workday > Benefits > Change > HSA Change.  For step-by-step instructions, you can go to slide 22 on this deck.

More Valuable Resources

401(k) Plan

Save for retirement through our 401(k) plan and our 4% company match.

401(k) Plan

Compensation at Samsara

Your base pay, bonus or commissions, and equity grants.

Compensation at Samsara

Disability Coverage

Income protection when you’re unable to work.

Disability Coverage

Flexible Spending Accounts

Pre-tax spending account for health care and dependent care expenses.

Flexible Spending Accounts

Life Insurance and AD&D

Protect yourself and your loved ones.

Life Insurance and AD&D