Health Savings Account (HSA)

Health Savings Account (HSA)

If you enroll in a High Deductible Health Plan (HDHP), you may be eligible to open a Health Savings Account (HSA) through Cigna HSA Bank to help pay for eligible health care expenses not covered under your medical, dental, or vision plan.

What Are the Benefits of an HSA?

  • Incora contributes FREE money to your account!
  • Paycheck deductions and qualified purchases are tax-free.*
  • An HSA is your bank account.
  • All unused funds roll over year to year.
  • Once your account balance reaches the minimum amount required by the bank custodian, you are eligible to invest the funds to help you save even more. Reach out to Cigna for details on this valuable opportunity.

How Are Contributions Made to an HSA?

You can contribute pre-tax dollars from your paycheck up to the annual IRS maximums to pay for eligible health care expenses. Once you open your account, Incora will automatically contribute to your HSA each pay period. Company contributions are pro-rated based on your benefits effective date. HSA contributions cannot exceed the annual IRS maximums.

What About the Fine Print?

While the HSAs have significant tax advantages, the IRS has specific rules:

  • You must be enrolled in the HDHP with HSA plan.
  • You cannot be covered under another non-qualified health plan, including your spouse’s/domestic partner’s Health Care Flexible Spending Account.
  • You cannot be enrolled in Medicare or Tricare.
  • You cannot be claimed as a dependent on someone else’s tax return.

*State taxes may still apply in CA and NJ. Please contact your professional tax advisor.


For HSA resources and to check your account balance, visit For a list of eligible expenses, visit IRS Publication 969.

HSA Plan Documents

For additional details regarding your HSA, please review the documents below: