When you enroll in a Health Savings Account (HSA) Plan, NortonLifeLock contributes $500–$1,500 to your HSA, depending on your level of coverage.
For 2022, save up to $3,650 if you have individual coverage and $7,300 if you cover dependents. Individuals over 55 can also contribute an additional $1,000 catch-up contribution. These limits include both your and NortonLifeLock’s contributions.
With the HSA, you save on taxes three ways. You don’t pay federal taxes on:
- The money you and NortonLifeLock contribute to your account
- The money your account earns from interest or investments
- The money you withdraw to pay for eligible health care expenses
Note: HSA contributions and earnings are not exempt from state income tax in California and New Jersey.
There’s no use-it-or-lose-it requirement with an HSA, so the money’s available whenever you need it. And it’s always yours to keep, even if you leave NortonLifeLock.
You can invest your balance when you have more than $1,000 in your account. Every dollar you invest has the potential to earn more. And any investment earnings are federal tax-free.
Need to access or manage your money?
Visit the Benefitsolver member portal via MyApps, where you’ll find a direct link to the MyChoice Accounts website under the Consumer Accounts section, which allows you to manage your funds.
Review the MyChoice Accounts User Guide (pdf).