- Careers &
Opportunities - Benefits & Advantages
- My Benefits
- Baylor Wellbeing
- Enrollment
- Retirement
- Compensation
- Insurance Offerings
- Employee Recognition
- Tuition Remission
- Time Off & Leave Policies
- Employee & Family Resources
- Accommodations
- Baylor Advantages
- Athletic Tickets
- Baylor Bookstore
- Baby Bear Program
- Baylor Club at McLane Stadium
- Baylor Theatre
- Baylor Wellbeing
- BearStand
- Campus Dining Offerings
- Campus Recreation
- Credit Union
- Dell Store
- Employee Assistance Program
- Game Room
- Waco Perks
- Health Center
- Martin Museum of Art
- Massage Therapy
- Mayborn Museum Complex
- Parking
- Personal Cell Phone Discounts
- School of Music
- University Libraries
- Vanguard College Preparatory School Scholarship Offer
- Wondr Health
- Benefit Forms
- Benefitfocus Login
- Manage & Lead
- Learn & Grow
- Contacts & Resources
- About
- Ignite
Health Savings Account (HSA)
Baylor employees who elect in the High Deductible Health Plan for medical insurance coverage can choose to elect into a Health Savings Account (HSA). A health savings account (HSA) is a tax-exempt savings account into which both the employer and employee can deposit money (up to an annual limit specified by the IRS) on a tax-preferred basis.
Contribution Information
2023
| Participant | Baylor Contribution | Employee Maximum Contribution |
|---|---|---|
| Employee | $600 | $3,250 |
| Employee + Family | $1,200 | $6,550 |
NOTE: Employees over the age of 55 may be eligible to make a $1,000 catch-up contribution.
2023
| 2023 HSA Limits | Individual | All Other Tiers |
|---|---|---|
| Baylor's HSA Contribution | $600 | $1,200 |
| Employee HSA Contribution | $3,250 | $6,550 |
| 2023 HSA (Basic) Limit | $3,850 | $7,750 |
| Over Age 55 Contribution | $1,000 | $1,000 |
| Maximum 2023 HSA Limit | $4,850 | $8,750 |
Eligibility Requirements
- Employees who wish to participate in an HSA must be enrolled in the High Deductible Health Plan (HDHP)
- Employee cannot be Medicare or Tricare eligible
- Employee cannot be claimed as a dependent on another person's tax return
- Employee cannot be enrolled in any other non-qualified medical plan
- Employee cannot be covered by spouse's Healthcare Flexible Spending Account (FSA)
- Employee cannot have received veteran's health benefits, with the exception of service-related disability
Limitation Information
- Changes to HSA elections may be modified or revoked anytime during the plan year without having a change in status.
- Any balance left over at the end of the year stays with the individual, available regardless of job changes or retirement.
- Adult Children: An adult child must be a tax dependent in order for their medical expenses to qualify for payment or reimbursement from a parent's HSA. If account holders can't claim a child as a dependent on their tax returns, then they can't spend HSA dollars on services provided to that child.
HSA Related Topics & Resources
