Health Savings Account

If you choose the High Deductible Health Plan (HDHP), you may be eligible to participate in the Health Savings Account (HSA) through WEX. The HSA is a triple tax-advantaged account to help fund your out-of-pocket health care costs.

For those making $60,000 or less, JHU will make a contribution to your HSA to help offset your higher deductible. You are eligible to contribute to your HSA on a pretax basis and unlike the FSA, the funds rollover from year-to-year. You own the funds forever and decide when you want to use them. You can use your HSA funds to pay for eligible medical, prescription, dental, vision, and other health care expenses that you incur today – or later in life.

WEX maintains a list of HSA eligible expenses. When using this tool, be sure to filter by “HSA”.

Go to WEX to access your spending account

New Users: To register, enter your [JHED ID]@johnshopkins.edu in the field for Employee ID. Your username and email for registration is [JHED ID]@johnshopkins.edu.

Eligibility

In order to have a HSA account, you must be enrolled in the university’s CareFirst BlueCross BlueShield High Deductible Health Plan. To be eligible, you must meet the following requirements, as defined by the IRS:

You are not covered by any other non-HDHP plan, such as a spouse’s plan.
You are not enrolled in Medicare, TRICARE or TRICARE for Life.
You cannot be claimed as a dependent on someone else’s tax return.
You have not received Veterans Affairs (VA) benefits within the past three months, except for preventive care. If you have a disability rating from the VA, this exclusion does not apply.
You are not covered by a traditional Health Care Flexible Spending Account (FSA) or Health Reimbursement Account (HRA). Alternative plan designs, such as a limited-purpose FSA or HRA, are permitted.

Special Features

The HSA offers a number of unique features:

Account is Yours and is Portable
HSA funds are available as they accumulate in the account. Once your balance reaches $1,000, you can choose to invest it, allowing it to grow over time. Unused funds roll over from year-to-year and if you leave the university, you can take your HSA with you. Think if it as a savings tool for your short – and long – term future. You can choose to use the funds now for eligible expenses or set aside the funds on a pre-tax basis for later in life.

Triple Tax Savings
A health savings account is a tax-favored savings account created for the purpose of paying medical expenses. This account offers triple tax savings:

Contributions to the account are tax-free.
Funds, and any applicable dividends or interest, accumulate tax-free.
Distributions used for qualified expenses are tax-free.

Pair with a Limited Purpose FSA
Due to IRS rules, you cannot participate in the general purpose Health Care FSA if you elect an HDHP with an HSA. However, you can participate in the Limited Purpose FSA to maximize your savings and tax benefits. The Limited Purpose FSA can be used for eligible dental and vision expenses only.

If you are a participant in the Health Care FSA and enroll in the HDHP with HSA, your unused balance from a minimum $30 up to a maximum of $640 in 2025.

Contributions

JHU Contributes
For those making $60,000 or less, JHU will make a contribution to your HSA to help offset your higher deductible. The amount of the annual contribution will depend on your salary band as follows:

Salary of $40,000 or less: $500 individual/$1,000 family*
Salary of $40,001 – $60,000: $250 individual/$500 family*

*Family includes two or more individuals.

The university contribution will be fully funded in the January following Annual Enrollment. If you become newly eligible for coverage and elect the HDHP after Annual Enrollment, the university contribution will be prorated.

Employee Contributions are Pre-Tax
In 2025, you can contribute up to $4,300 for an individual and up to $8,550 for a family, including JHU’s contribution, on a pretax basis. If you are 55 or older, you can make an additional catch-up contribution of $1,000. You can adjust your contribution amount anytime throughout the year via the benefits enrollment portal.

Manage Your Account

Manage Contributions
You have the ability to contribute to your HSA through pre-tax payroll deductions. Your deductions may be changed at any time throughout the year. To view or change your payroll deduction simply access the benefits enrollment portal by clicking on the myChoices Health & Life Enrollment tab from the Benefits & Worklife homepage. Select Life Events and then Health Savings Account (HSA) Contribution. From there you can adjust your contribution.

You also have the option to make direct deposits into your account with WEX at any time throughout the year. These deposits would be on a post-tax basis but would be deducted on your taxes (no need to itemize).

Monitor your Funds and Manage Reimbursements:
Log into your WEX on the WEX website or use the WEX Mobile app to monitor your balance and help manage your savings goals.

You are also able to request a distribution from your HSA within the WEX site or mobile app. The process is simple and does not require documentation but you should always save your backup documentation for IRS purposes.

Invest your HSA
Once your account has reached a minimum balance of $1,000 you are able to invest your funds. WEX offers a wide variety of mutual funds. Click here for a list of the funds available.