Development of Health Savings Accounts (HSA)
Effective October 1, 2011, OEBB will offer the use of an employer sponsored vendor for Health Savings Accounts (HSA). For purposes of this rule, an HSA vendor will be considered employer sponsored if the Entity offers:
Employer contributions to the HSA; or
Pre-tax or direct deposit of employee contributions to the HSA.
If an Entity chooses to offer an employer sponsored HSA, the Entity may offer this plan through the OEBB-contracted HSA.
Entities may select or allow the HSA option to be available to eligible employees who enroll in OEBB’s high-deductible health plan (HDHP) option (currently Moda Health Evergreen Medical Plan, Moda Health Fir Medical Plan and Kaiser Permanente Medical Plan 3).
Eligible employees who are eligible to enroll in an HSA, and choose the employer sponsored HSA vendor, may do so directly through the HSA vendor or their Entity.
Eligible employees must meet requirements established by the Internal Revenue Service (IRS) to qualify for enrollment in an HSA. Once enrolled in an HSA, members are responsible to adhere to tax requirements of the IRS.
Because IRS requirements for an individual to qualify for enrollment in an HSA include concurrent enrollment in a high-deductible health plan (HDHP), an Entity that offers an employer sponsored HSA must offer its employees the choice of a HDHP option, currently Moda Health Evergreen Medical Plan, Moda Health Fir Medical Plan and Kaiser Permanente Plan 3, from among OEBB’s medical plans. If an employee is enrolled in an OEBB medical plan other than OEBB’s HDHP, the employee may not enroll in the OEBB HSA.