Health Savings Account (HSA)
As part of the wide range of choices the Columbus City Schools benefits program offers a Health Savings Account (HSA) to Classified employees to help save money pre-tax that may be used for savings, investment, or paying for eligible health care expenses. YOU MUST BE ENROLLED IN THE HIGH DEDUCTIBLE HEALTH PLAN IN ORDER TO ELECT AN HSA. You are able to elect an annual amount up to $4,150 (single) or $8,300 (family).
Once enrolled, WEX, Inc. will issue you a debit card and the amount of your election will be available for you to use as you contribute to it through payroll deductions. This amount will be divided evenly by the number of paychecks for the year and deducted via payroll deduction on a pre-tax basis which lets you take home a larger paycheck by reducing taxable income.
The money you contribute is always yours, and if you leave CCS, the account travels with you. Although you do not have to substantiate eligible expenses paid for through your HSA, you should keep your receipts in case you are ever asked to produce them for tax purposes. You can also register for your WEX, Inc. account by visiting www.wexinc.com. Here you can learn what qualifies as an eligible expense and check your balance.