Health Savings Account

If you enroll in one of the HDHP Plans, you have a Health Savings Account (HSA) available, which is a tax-advantaged personal savings account that you can use to pay for qualified medical expenses you have now or in the future.

HSA Basics

The maximum amount you can contribute to your HSA in 2024 is shown below:

Maximum HSA Contributions for 2024
Coverage for employee only	$4,150
Coverage for employee + one or more	$8,300
Catch-up contributions (if you are age 55 or older)	$1,000

Company Contributions

In addition to making your own contributions to the account, the company will contribute up to $500 for employee only coverage or $1,000 for employee + one or more coverage—that’s free money you receive just for participating in one of the HDHP Plans. Employer contributions are pro-rated based on your benefits eligibility date and are contributed to your account in each payroll. Note that the maximum amount you can contribute to your HSA includes the company contribution Pursuit Aerospace will make to your account for 2024.

Tax Advantages

Your HSA balance rolls over from year-to-year in a tax-free environment, meaning you do not have to use all your funds by the end of the plan year. In fact, you do not pay federal taxes on money going into your HSA, growing in your HSA, or being distributed from your HSA for eligible health care expenses. For more information, please refer to IRS Publication 969.

Investment Option

You can invest contributions in excess of $1,000.

If You are Enrolled in Medicare

You cannot contribute to an HSA if you are age 65 or older and enrolled in Medicare; however, you can continue using the money in your account to pay for qualified medical expenses.

Rear view of young woman with bag standing against shelf in pharmacy searching for medicine

Manage Your HSA

The administrator of Pursuit Aerospace’s HSA is HealthEquity. For more information and to manage your HSA, visit the HealthEquity website at healthequity.com or call HealthEquity customer service at 866-346-5800.

Ready to enroll?

Log on to your ADP Workforce Now account to elect your benefits if you’re newly hired, during the annual Open Enrollment period or if you experience a qualifying life event.

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