FSA & HSA

Health Savings Account (HSA)

Administered by HSA Bank. Available with the HDHP only. Enroll via Workday.

• You must be enrolled in an HSA-eligible High Deductible Health Plan. You are eligible to contribute to an HSA if: you are enrolled in an HSA-eligible High Deductible Health Plan; you are not covered by your spouse’s or parent’s non-HDHP; you or your spouse does not have a Healthcare Flexible Spending Account or Health Reimbursement Account; you are not eligible to be claimed as a dependent on someone else’s tax return; you are not enrolled in Medicare or TRICARE; you have not received Department of Veterans Affairs medical benefits in the past 90 days for non-service-related care.
• Funding source: contributions from you and Lhoist North America.
• Unused funds roll over annually.
• HSA contributions are made through payroll deduction on a pre-tax basis when you open an account with HSA Bank. The money in your HSA (including interest and investment earnings) grows tax-free. When the funds are used for qualified medical expenses, they are spent tax-free.
• HSA funds are portable if you change plans or jobs.
• There are no vesting requirements (you own all contributed HSA funds immediately) or forfeiture provisions (you keep all HSA funds whether you leave the company or retire).
• Eligible expenses include doctors’ visits, eye exams, prescription expenses, laser eye surgery, menstrual products, PPE, over-the-counter medications.
• If HSA funds are used for purposes other than qualified medical expenses and you are younger than age 65, you must pay federal income tax on the amount withdrawn, plus a 20% penalty tax.
• If you contribute over the annual IRS limit, the excess may be removed or left in the HSA and taxed with a 6% excise tax.

HSA Contribution Limits

Employer Contribution