Health Savings Account

The HSA is a personal savings account that comes with the Anthem HSA Plan to which you can contribute pretax dollars to pay for qualified health care expenses now or later. You can even save the money in your HSA to use for eligible expenses in retirement. Your HSA is administered by Health Equity.

MyChoice Accounts (through Benefitsolver) is replacing HealthEquity as the administrator for NortonLifeLock’s Health Savings Accounts (HSAs) beginning January 1, 2022.

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 2021, save up to $3,600 if you have individual coverage and $7,200 if you cover dependents. For 2022, save up to $3,650 if you have individual coverage and $7,300 if you cover dependents. 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 $2,000 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 Collective Health member portal via MyApps, where you’ll find a direct link to the HealthEquity website under the Your Funds section, which allows you to manage your funds.

Questions?

HealthEquity

Website: healthequity.com

Phone: 1-866-346-5800