Health Savings Account (HSA)

If you enroll in the High Deductible Health Plan (HDHP), you are eligible to open a Health Savings Account (HSA), administered by HSA Bank. An HSA can help you pay for eligible health care expenses such as medical, dental, vision care, and prescription drugs. Click HERE to watch a video about your HSA Benefit.

What’s in it for me?

• Alteryx contributes money to your HSA! See the chart below for contributions.
• You can set aside pre-tax money from your paycheck to help pay for additional out-of-pocket health care expenses. HSAs give you triple tax advantages:
  1. Your contributions to the HDHP are not taxed*
  2. Payment of qualified expenses is tax-free
  3. Earnings are tax-free*
• The HSA is an individual account you own The entire balance is yours to keep. If you leave the company, the account goes with you.
• You can make changes to your HSA contributions at any time. Unused funds will roll over to the next plan year.
• Freedom to control and manage your healthcare spending and savings to grow your balance for future qualified medical expenses, such as those in retirement.

How much can I contribute?

Contributions cannot exceed the annual IRS maximums. If you are age 55 or over, you may contribute an additional $1,000.

If you are 55 or older within the tax year, you can contribute an additional $1,000 towards your HSA.

What about the fine print?

• You must be enrolled in the HDHP plan.
• You cannot be covered under another non-qualified health plan, including your spouse’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.
• Your HSA is funded as you contribute. Your account may be used for the amount that has been contributed into the HSA.

*State taxes may still apply in CA and NJ. For detailed tax implications of an HSA, please contact your professional tax advisor.

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