Health Savings Account
A Health Savings Account (HSA) is an employee-owned, tax-advantaged bank account paired with a qualified High Deductible Health Plan (HDHP). HSA funds can be used to pay for current or future qualified healthcare expenses, including medical, dental, vision, and prescription costs
- You must be enrolled in Silvi’s HDHP Plan to elect an HSA.
- Silvi partners with Harrison Group to administer your HSA. If you enroll in the HSA, you will receive a debit card which you can use to pay for your healthcare expenses.
- HSA funds roll over every year and remain yours even if you leave Silvi.
Triple Tax Advantage
- Contribute on a pre-tax basis.*
- Grow your account tax-free through investments and interest.**
- Pay for qualified healthcare expenses tax-free using HSA funds.
*CA & NJ tax contributions and earnings at the state level.
**CA, NJ, NH & TN tax investments/interest at the state level.
Eligibilty
- You must be enrolled in a qualified HDHP.
- You cannot be covered by any other non-HDHP coverage, including Medicare (all parts), Tricare, Tricare for Life, or a Healthcare FSA.
- You cannot be claimed as a dependent on someone else’s tax return.
*CA, NJ & TN tax investments at the state level.
Investments
- A minimum balance of $2,000 must be maintained in your HSA to invest in select mutual funds.
- No taxes on investments at the state level.
Silvi HSA Contributions
Silvi contributes to your Health Savings Account (HSA) to help you save for qualified healthcare
expenses. You can also make your own pre-tax contributions, up to the annual limits established by the IRS, outlined below. Please note that the annual IRS contribution limits include both Silvi’s contributions and your own, so your total combined contributions cannot exceed the applicable IRS limit.
The 2027 IRS limits are $4,500 for individual coverage and $9,000 for Family coverage.
| HSA Annual Contribution Limits | ||||
|---|---|---|---|---|
| Coverage Level | Team Member Contribution | Silvi Contribution | ||
| Individual | $4,000 | $500 | ||
| Employee & Spouse or Employee & Child(ren) | $8,000 | $1,000 | ||
| Family Coverage | $7,500 | $1,500 | ||
| Catch-Up Contributions (55 and older) | $1,000 | N/A | ||
HSA Guide
HSA Investments Portal Guide
