If you choose to enroll in the High Deductible Medical Plan option, you have the opportunity to enroll in a Health Savings Account (HSA) through HealthEquity. An HSA is a tax-advantaged account that you can use to pay for qualified medical expenses for those who are covered under an HSA plan
Your balance never expires – there’s no “use it or lose it” rule! You can use the money in your HSA for your deductible and any other eligible medical expenses you have throughout the year or anytime in the future. You keep the account even if you leave NGOC.
The IRS sets contribution limits each year. You can deposit up to the following amounts:
$4,150 for individual coverage
$8,300 for family coverage
If you are 55 or older, you can make an additional catch-up contribution of $1,000.
Once your HSA is opened, you will receive a Member Welcome Kit including a HealthEquity Visa Card in the mail at your home address. Activation instructions are included in your kit.
You will have access to the HealthEquity Member portal where you can check your balance, review transactions, view insurance claims, invest in mutual funds, pay providers and submit for reimbursement. To access your account, click on this link. You will need to click on "Create user name and password" located under the message "Are you a member logging in for the first time?".
With HealthEquity, you have access to Account Mentors that can help assist you with your account questions. They are available 24 hrs a day/7 days a week at 866-346-5800.
PLEASE NOTE: Under IRS guidelines, you are not allowed to contribute to a Health Savings Account (HSA) and a Healthcare Flexible Spending Account (FSA) at the same time due to the tax-advantaged status of the accounts. NGOC offers a Health Savings Account for only those employees enrolled in the High Deductible Health Plan. On the contrary, if you enrolled in the Point of Service (POS) plan, you will only have access to the Healthcare FSA, not the Health Savings Account. The Dependent Care FSA account is available to anyone at NGOC.
