Why the PFFA Offers a Health Savings Account (HSA)
At PFFA Healthcare Trust, we want to provide our members with the financial flexibility and control needed to manage healthcare expenses.
We have partnered with Health Equity for the option to enroll in either the HSA 3300 or HSA 5000 health plan, you gain access to a Health Savings Account (HSA), allowing you to set aside pre-tax dollars for qualified medical expenses. Your HSA can be used to pay for current medical, dental, and vision costs or saved for future healthcare needs, including retirement.
Health Savings Account
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Benefits of an HSA
Firefighters face unique financial demands, and a Health Savings Account (HSA) provides critical benefits to help manage these challenges:
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Tax-Advantaged
Savings
Contributions are made pre-tax, helping reduce your taxable income.
02
Ownership and Flexibility
The money in your HSA is yours to keep, even if you change jobs or retire.
03
No “Use It or Lose It” Rule
Any unused funds roll over year after year, giving you a growing source of savings for future healthcare costs.
04
Versatility in Spending
Use your HSA for a wide variety of healthcare expenses for yourself and your dependents, including medical, dental, vision, and prescriptions.
04
Retirement Savings
Build long-term savings for healthcare costs in retirement.
How Does an HSA Work?
Your HSA is a personal savings account used to pay for qualified medical expenses.
You and your employer can contribute to your HSA, and the funds can be accessed through a debit card for immediate payment of eligible expenses, including medical, dental, vision, hearing, and prescription costs. The account grows over time with no expiration, allowing you to save for future expenses as well.
HSA Eligibility and Contribution Limits
To be eligible for an HSA, you must:
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Be 18 years or older.
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Be enrolled in an HSA-qualified health plan like the HSA 3200 or HSA 5000.
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Have no other health coverage (such as a spouse’s plan) that is not HSA-qualified.
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Not be enrolled in Medicare or claimed as a tax dependent.
Contribution Limits for 2025:
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Individual Coverage: $4,300
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Family Coverage: $8,550
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Catch-Up Contribution (for those aged 55+): $1,000
HSA Frequently Asked Questions (FAQ)
An HSA is a personal savings account that allows you to save and pay for medical expenses on a pre-tax basis. Key features include:
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You own the account, so the money is yours to keep forever.
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Unused funds roll over each year, and there is no expiration.
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Your contributions, withdrawals for qualified expenses, and any earnings are all tax-free.
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You can access your HSA account through your provider's online platform or mobile app. For Health Equity, you can log in at HealthEquity.com or use their mobile app.
You are eligible for an HSA if you:
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Are enrolled in an HSA-qualified health plan (HSA 3200 or HSA 5000).
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Are not covered by another non-HSA-qualified health plan.
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Are not enrolled in Medicare.
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Are not claimed as a dependent on someone else’s tax return.
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Tax Savings: Contributions are pre-tax, and withdrawals for qualified expenses are tax-free.
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Flexibility: Use your funds for a range of healthcare expenses, including medical, dental, and vision.
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Long-Term Savings: Save unused funds for healthcare costs in retirement.
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You can use your HSA to pay for a wide variety of qualified medical expenses, including:
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Medical treatments, doctor visits, and prescriptions.
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Dental procedures, cleanings, and orthodontics.
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Vision care, including exams, glasses, and contact lenses.
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For 2025, the contribution limits are:
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Individual Coverage: $4,300
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Family Coverage: $8,550
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Catch-Up Contribution (for those aged 55+): $1,000
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You can adjust your HSA contribution at any time during the year, as long as your payroll provider allows for changes.
An HSA is ideal if you:
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Want to save for future medical expenses in a tax-advantaged way.
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Value flexibility in how and when you use your healthcare dollars.
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Are enrolled in an HSA-qualified health plan and want to take full advantage of its savings benefits.
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Accessing Your HSA Account
You can manage your HSA account through our partner, Health Equity’s portal. For Health Equity users, log into your account at HealthEquity.com or access your account through the Health Equity mobile app.
Managing Your HSA Like a Pro
With the Health Equity mobile app, you can:
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Easily upload receipts and submit reimbursements.
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Check your balance and transaction history in real-time.
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Track your investments through an interactive platform.
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Instantly link external accounts for seamless transfers.