Health Savings Account (HSA)
A Health Savings Account (HSA) is a personal savings account you can use to pay for qualified out-of-pocket medical expenses with pretax dollars, now and in the future. Once you’re enrolled in the HSA, you’ll receive a debit card to help manage your HSA reimbursements. Your HSA can also be used for your expenses and those of your spouse and tax dependents up to age 26, even if they are not covered by the HDHP medical plan.
Your HSA is always yours — no matter what.
One of the best features of an HSA is that any money left in your HSA account at the end of the year rolls over so you can use it next year or sometime in the future. And if you leave the Five9 or retire, your HSA goes with you so you can continue to pay for or save for future eligible healthcare expenses.
Eligibility
You must be enrolled in the High Deductible Health Plan. To receive the Five9 contribution, please complete the eligibility survey.
Contributions
Five9 contributes: $75 semi-monthly ($1,800 annually) to the HSA for an employee enrolling only themselves in Five9’s Cigna HDHP and $120 semi-monthly ($2,880 annually) to the HSA for those enrolling one or more dependents in Five9’s Cigna HDHP. Five9’s HSA contribution is prorated based on your benefits effective date and coverage level.
Annual Contribution Limit: You can contribute up to the limit set by the IRS annually, which includes Five9’s contributions.
- Individual: $4,400 per year
- Family: $8,750 per year
- Age 55+: $1,000 extra per year
Using Your Account
Eligible Expenses
You may use your HSA funds to cover medical, dental, vision and prescription drug expenses incurred by you and your eligible family members.
Your Debit Card
Use the debit card linked to your HSA to cover eligible expenses or pay for expenses out of your own pocket and save your HSA money for future healthcare expenses.