Health Savings Account (HSA)
The UVA Health Savings Account is available to employees enrolled in Basic Health, and can be used for eligible health care, dental, and vision expenses.
HSA Highlights
- Available to those who are enrolled in Basic Health.
- Used for eligible health care, dental, and vision expenses.
- Balances roll over each year and accrue interest; you get to keep the balance even if you leave UVA.
- Both employees and employers can make pre-tax contributions up to the IRS annual limit. For those age 55 and older, there is an additional catch-up amount allowed.
- Contributions can be used to pay eligible expenses incurred on or after the HSA account is open with Fidelity
- Can be used with a dental/vision-only Limited Flexible Spending Account (LMT).
- When you first enroll in the Basic Plan, Fidelity may require additional information to open your HSA. Please respond to emails from Fidelity in a timely manner to avoid forfeiture of the UVA employer contribution to your HSA.
- You may invest your HSA assets in a variety of investment options—including stocks, bonds, and mutual funds—for potential growth of your account over time. Any growth made from the investment is tax-free as long as it is used on eligible medical expenses.
- You can change your employee contribution at any time in Workday effective the first of the following month.
Learn About Your Fidelity HSA
To schedule an appointment with a Fidelity representative, visit the Fidelity website and select "Schedule a time to meet."