Have questions? We have answers.

Health Savings Account (HSA)

  1. Does the Partnership make contributions to my HSA?

    Yes. When you select the CDHP, the Partnership will set up an HSA account for you and deposit either $750 (employee only coverage) or $1,500 (all other coverage levels) to help with your health care expenses.

  2. When will the Partnership contributions be funded to my HSA?

    A portion of the Partnership contributions will be deposited into your HSA each pay period.

  3. Is the Partnership contribution included in the IRS annual maximum limit?

    Yes. The IRS maximum limit includes the Partnership and employee contributions.

  4. What is the difference between an HSA and an FSA?

    The primary difference between a Health Savings Accounts (HSA) and a Flexible Spending Accounts (FSA) is that money contributed to an HSA carries forward to the following year if unused. In contrast, FSAs are “use it or lose it”. Also, in order to take advantage of the HSA you need to be enrolled in the CDHP.

  5. My adult child is on my CDHP. He is 25, but he works and files his own tax return. Can I use my HSA funds to pay for his medical care?

    No. While you may add children up to age 26 to your medical plan, children ages 19 to 26 must be considered a tax dependent in order for their medical expenses to qualify for payment from a parent’s HSA.

  6. What happens to my HSA money if I do not use all the fund by the end of the calendar year?

    An HSA is a savings account that you own. Any funds that remain in the account are yours to keep. You can even save funds in your account to use toward eligible medical expenses into retirement.

  7. Can I transfer funds from my HSA to an FSA?

    No. Funds cannot be transferred between HSAs and FSAs.

  8. What happens to the money in my HSA if I retire or leave the company?

    The funds in your HSA are yours to keep and will go with you upon retirement or if you leave the company.

These frequently asked questions (FAQs) provide only an overview of benefit changes and clarifications effective January 1, 2024. The respective plan documents and policies govern your rights. You should rely on this information only as a general summary of some of the features of the plans and policies. In the event of any difference between the information contained herein and the plan documents and policies, the plan documents and polices will supersede and control over these FAQs. The Partnership expressly reserves the right at any time and for any reason to amend, modify or terminate one or more of the plans or policies described in these FAQs.

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Retail Benefits Helpline
7:00 a.m. - 6:00 p.m. Central time,
or email bac.retailbenefits@ajg.com


2024 Benefits Open Enrollment is closed.

If you have questions about your benefit elections, please contact the Retail Benefits Helpline at 1-855-327-5910, or email bac.retailbenefits@ajg.com.

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