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Berea College

A Health Savings Account (HSA) is a powerful financial tool available to employees who elect our High-Deductible Health Plan (HDHP). It is a personal bank account that allows you to save pre-tax dollars for current and future medical, dental, and vision experiences.

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The “Triple Tax Advantage”

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Berea College Employer Contributions

One of the biggest perks of the HDHP is that Berea College puts money into your account for you! These funds are deposited with your first payroll in July.

Note for New Hires: Employees hired on or before December 31st of the current fiscal year receive the full contribution in July. Employees hired on or after January 1st receive 50% of the annual employer contribution.

HSA Plan Details (2026 IRS Limits)

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To contribute, you must be enrolled in the HDHP. You are not eligible if you are enrolled in Medicare/Tricare or if you (or your spouse) contribute to a General Purpose FSA.

Am I eligible for HSA? 

Yes! Unlike the FSA, you do not need a qualifying life event. You can increase or decrease your payroll deduction at any time by changing your contribution on BSwift.

Can I change my contribution amount at any time? 

Unlike the FSA, HSA funds are only available as they are deposited. However, if you pay out-of-pocket, you can reimburse yourself later once the funds have accumulated in your account, as long as the account was open when the expense occurred.

What happens if I incur an expense but don’t have enough funds yet? 

No. The HSA is yours to keep forever. Unused funds roll over year after year, and the account stays with you even if you<a class="a_GcMg" draggable="false" href="https://bereaedu.wpenginepowered.com/human-resources/wp-content/uploads/sites/129/2020/05/Direct-Deposit-Form-Fillable-Fields.pdf" target="_blank" rel="noopener nofollow"> 
</a>retire or leave Berea College.

Do I lose my money at the end of the year?

You can pay for <a href="https://www.healthequity.com/hsa-qme">qualified expenses</a> or yourself, your spouse, and your dependent children. You can also use it for a domestic partner if they are considered a legal tax dependent

Feature	Single Coverage	Family Coverage
Annual Contribution Limit	$x,xxx	$x,xxx
Age 55+ "Catch Up"	$x,xxx	$x,xxx
Rollover Provision	Unlimited( Funds never expire)	Unlimited (Funds never expire)
Portability	You keep the account if you leave.	You keep the account if you leave.

Health Savings Account

The “Triple Tax Advantage”

Berea College Employer Contributions

HSA Plan Details (2026 IRS Limits)

Frequently Asked Questions

Tools & Resources