If you enroll in the Consumer Driven Health Plan (CDHP), you may be eligible to open an HSA, through HealthEquity. An HSA makes it easy to pay for eligible health care expenses not covered by your medical, dental, or vision plan—both now and in the future.
| Employer Contribution | Tax Savings |
Account Ownership |
Debit Card |
Fund Rollover |
Future Savings |
|---|---|---|---|---|---|
| Big 5 will match, up to the cap, your contributions each pay period to help fund your account! | You can contribute tax-free* money to pay for qualified medical expenses. | An HSA is your bank account. If you leave Big 5, the account goes with you. | Use your HSA HealthEquity debit card to conveniently pay for qualified medical expenses. |
All unused funds roll over year to year. | HSAs can make a great retirement savings account for health care. |
*State taxes may still apply in CA and NJ. For detailed tax implications of an HSA, please contact your professional tax advisor.
When you enroll in an HSA, you can contribute pre-tax dollars from your paycheck up to the annual IRS maximums to pay for eligible health care expenses. Big 5 will also contribute to your HSA each pay period, until the maximum contribution is reached. Company contributions are made each pay period, up to the cap. For additional information on IRS maximum contribution limits, visit irs.gov.
| Coverage Type | Big 5 Contribution | Maximum Employee Contribution | IRS Contribution Limit | Catch-up Contribution (Age 55+) |
|---|---|---|---|---|
| Individual Coverage | $250 | $4,150 | $4,400 | Additional $1,000 |
| Family Coverage | $500 | $8,250 | $8,750 |
Refer to irs.gov/forms-pubs/about-publication-969 for a complete list of eligible expenses and HSA rules.