Health Savings Account (HSA)

A health savings account (HSA) is a tax-advantaged account for people who are enrolled in a high-deductible health plan (HDHP). Money is contributed pre-tax and accumulates each year that you’re enrolled—no expiration.

HSAs are used to pay for eligible health expenses, including some dental and vision costs. For more information about eligible expenses, read this article from the IRS.

If your HSA is managed by Gusto, visit your Gusto Benefits Card Manager portal to review transactions, claims, and more.

Note for employers: In order to purchase and provide a Health Savings Account through Gusto, you must first have medical insurance managed by Gusto.

Pre-tax Limits

Health Savings Accounts 2018 2017
HSA contribution limit (employee + employer)

Self-only: $3450

Family: $6850

Self-only: $3400

Family: $6750

HSA catch-up contributions (age 55 or older) $1000 $1000

Questions & Answers

Q: What’s the difference between an HSA and an FSA?

A: Visit this article from our Help Center.

Q: Can I have an HSA and an FSA?

A: If you have an HSA, you’re only eligible for a “Limited purpose FSA.” Learn more from this article in our Help Center.

Q: Will Gusto notify employees about when to enroll?

A: No. You will need to let your employees know they can begin the enrollment by logging into their Gusto account.

Q: When will employees receive their Gusto Benefits Card Manager cards?

A: 7-10 business days after enrolling.

Q: When can employees make changes to their HSA?

A: First time enrollees - Selections must be made before the 20th of the month. Once enrollment is submitted, changes cannot be made until the benefit becomes active on the first of the following month.

After the benefit is active - Changes can be made at any time but must be submitted before the 20th of the current month for them to take effect the first of the following month.

Q: How do I rollover my HSA funds from my old bank to Avidia Bank?

A: Fill out the form attached below and send it to Avidia Bank using the contact information at the top of the document. You can also find the form in your GBCM portal. Requests typically take 4-6 weeks to process, please reach out directly to Avidia for status updates in the interim.

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