The information on this page is for regular employees. If you’re a SelectTime or seasonal employee, visit the benefits site for you.

Health Savings Account

The Health Savings Account (HSA) is a personal savings account that you use for health care. You and Intuit set aside money—tax-free.* It’s only available if you enroll in the Cigna Choice Fund HSA medical plan. See what expenses you can use the account for.

Is an HSA Right for You?
How Does the HSA Work?
Save Today, Save Tomorrow

*In CA, AL and NJ, the HSA is subject to state tax.

Is an HSA Right for You?

Watch! This short video for an intro to the HSA.

How Does the HSA Work?

Am I eligible?

First, make sure you're eligible for medical coverage through Intuit—the HSA is only available with the Cigna Choice Fund HSA. Then, several rules apply. You are not eligible for the HSA if you:

  • Are enrolled in Medicare.
  • Are covered by another health care plan that’s not a high-deductible health plan.
  • Can be claimed as a dependent on someone else’s tax return.
  • Are covered by veterans’ benefits and have used Veterans Affairs medical services within the past three months.
  • Are enrolled or covered by a health care flexible spending account (FSA) or Health Reimbursement Account (HRA), including one through your spouse’s/domestic partner’s employer.

How do I enroll?

When you enroll in the Cigna Choice Fund HSA medical plan, an HSA account is automatically opened for you with HealthEquity. Read more about enrollment.

How much will Intuit contribute?

Intuit contributes to your HSA at the start of each fiscal plan year (August 1–July 31) or upon initial enrollment into the Cigna Choice Fund HSA plan.

If your annual salary is under $80,000, Intuit will contribute:

  • $1,000 for individual coverage
  • $2,000 for family coverage

If your annual salary is $80,000 or more, Intuit will contribute:

  • $750 for individual coverage
  • $1,500 for family coverage

How much can I contribute?

You can contribute up to the IRS maximums each year. For calendar year 2022, you can contribute:

  • Up to $3,650 for individual coverage
  • Up to $7,300 for family coverage

If you’re age 55 or older, you can contribute an additional $1,000 in catch-up contributions.

While adhering to the IRS maximum is ultimately your responsibility, Intuit works with HealthEquity to monitor individual HSA payroll contributions. If your employee and/or employer HSA contribution exceeds the IRS maximum, the applicable taxes will be applied to the excess amount and returned on your subsequent paycheck.

Can I change my contribution amount?

Yes, you can change your contribution amount at any time. Changes will take effect on the first paycheck of the following month.

When will my funds be available?

Intuit's full contribution is deposited into your HSA in the first payroll of the month after you enroll in the Cigna Choice Fund HSA plan. Your ongoing contributions will be funded each payroll cycle. If you are a new hire, your funds are available the first of the month after you enroll in the plan.

Whose expenses can I pay with my account?

Yours, and generally any dependents that meet the IRS definition of a tax dependent.

How do I use my HSA to pay for care?

Learn more about using your HSA to pay for care.

Can I use any other flexible spending accounts with my HSA?

Yes. You can use the new Limited Purpose FSA with your HSA to pay for eligible dental and vision care. However, under IRS rules, you can’t have both a Health Care FSA and an HSA.

What’s the difference between a fiscal year plan and the IRS maximum limit?

All Intuit benefit plans follow the fiscal year, which is August 1 through July 31. That means that when you enroll in coverage, the election begins August 1 or at the time you’re eligible to enroll

The IRS maximum is managed on a calendar-year basis, which is January 1 through December 31.

Therefore, half of the fiscal year is captured in the IRS maximum, and the subsequent fiscal year makes up the second half of the IRS maximum.

Example:
Fiscal year runs August 1–July 31 
HSA contributions made January 1–July 31 
Plus 
HSA contributions made August 1–December 31 
Combined in total must adhere to the IRS maximum

Save Today, Save Tomorrow

While your HSA is a great way to pay for current health care expenses, you also can use it to build a health care nest egg for the future. Here’s how:

  • Contribute the full amount to your HSA, up to IRS limits ($3,650 for individual coverage and $7,300 for family coverage in calendar year 2022, plus an additional $1,000 if you’re 55 or older).*
  • If your budget allows, pay out of pocket for your health care to let your HSA balance grow, untaxed.
  • Invest** your funds once your account balance reaches $1,000—any investment earnings are tax-free.

*If you send a check to HealthEquity for the full IRS limit, you will have to claim the tax savings on your return and you will need to be enrolled in a high-deductible health plan for at least 13 months.

**HealthEquity manages the HSA and has many mutual funds available as part of its standard investment offering. Intuit does not select the mutual funds offered, nor does Intuit monitor them on an ongoing basis.