With the Basic HSA or the HSA Plus medical plan, you’re eligible to open and contribute money to a Health Savings Account (HSA) through Discovery Benefits. Masonite will contribute to your account, too!
The HSA is an individually-owned, tax-free, interest-bearing savings account that is used to pay for qualified health care expenses. The money in your HSA is always yours to keep — any remaining balance rolls over year after year. You can take your HSA with you if you leave Masonite; it can even be used in retirement. If you enroll in Medicare while enrolled in the Basic HSA or HSA Plus medical plan, you are no longer eligible for contributions to your HSA, (bank account). If you are enrolled in the Basic HSA or HSA Plus medical plan or you are covered under a spouse’s plan and your spouse has a Flexible Spending Account (FSA), you are not eligible for the HSA (bank account).
|Put money in tax-free.
Basic HSA Plan:
|Pay for care tax-free.*|
|Carry unused money over.
For 2021, the limits on total contributions to your account (from both you and Masonite) are:
Add $1,000 to these limits if you're age 55 or older.
For 2022, the limits on total contributions to your account (from both you and Masonite) are:
If you turn age 55 by December 31, 2022, you can contribute an additional $1,000.
Increase your tax savings with a Limited Purpose FSA