Health Savings Account (HSA)

A Health Savings Account (HSA) is a personal savings account you can use to pay for qualified out-of-pocket medical expenses with pre-tax dollars, now and in the future. The EnerSys HSA is administered by Empower. Once you’re enrolled in the HSA, you’ll receive a debit card to help manage your HSA reimbursements. Your HSA can also be used for your expenses and those of your spouse and tax dependents, even if they are not covered by the HDP medical plan.

Your HSA is always yours — no matter what.

One of the best features of an HSA is that any money left in your HSA account at the end of the year rolls over so you can use it next year or sometime in the future. And if you leave the Company or retire, your HSA goes with you so you can continue to pay for or save for future eligible healthcare expenses.

Eligibility

You must be enrolled in the EnerSys High Deductible Plan (HDP) to contribute to a Health Savings Account.

You may not contribute to an HSA if you contribute to a Healthcare Flexible Spending Account (HCFSA).

Accounts must be established through Benefitsolver. Some accounts may be subject to identity verification in accordance with the US Patriot Act of 2001. If this applies to you, you will be notified by Empower of next steps.

Contributions

EnerSys contributes: $300 (Employee Only) | $600 (Employee + One or More)

To receive the EnerSys HSA employer contribution, you must establish an HSA through Benefitsolver and contribute via payroll deduction. Employee HSA contributions are matched on a quarterly basis until the annual maximum employer matching contribution is reached.

You contribute on a pre-tax basis and can change how much you contribute from each paycheck up to the annual IRS maximum of $4,400 if you enroll only yourself or $8,750 if you enroll in family coverage. You can make an additional $1,000 catch-up contribution if you are age 55 or older. IRS maximums include both your contributions and those made by EnerSys.

HSA elections can be changed at any point during the plan year, but must be elected during Open Enrollment if you would like your HSA deduction for the new plan year to start with your first paycheck of the new plan year.

Using Your Account

Eligible Expenses

You may use your HSA funds to cover medical, dental, vision and prescription drug expenses incurred by you and your eligible family members. For a list of eligible expenses, visit empowermyretirement.com.

Your Debit Card

Use the debit card linked to your HSA to cover eligible expenses or pay for expenses out of your own pocket and save your HSA money for future healthcare expenses. Note that HSA funds can only be used after contributions have been made to your account.

Your Money Stays Yours

All funds roll over from year to year and there is no deadline to spend what you have contributed. Should your employment terminate for any reason, your HSA funds are yours to take with you. HSA funds can also be spent on non-qualified expenses once you are 65 years of age or older, subject to regular income tax.

Managing Your Account

Manage all your accounts in one place with a seamless connection to your workplace retirement plan online.

Log in to empowermyretirement.com or the Empower mobile app with the username and password you use for your workplace retirement account. You’ll find your Consumer Directed Health Account(s) in the Account dropdown. Select the account name, click Overview, then select Visit website.
If you’ve never registered your workplace retirement account online or don’t have one, choose Register from the login page, select I do not have a PIN, and enter your personal information to create a username and password.

From your account you can view balances, submit claims and upload receipts, track transactions and claim status, report a card lost or stolen, change your reimbursement method and direct deposit information, make online payments to any payee, and add or change beneficiaries.

Please note: The Empower Benefit Accounts app is separate from the Empower app used for your retirement account and only includes information related to your FSA or HSA. Its registration process is separate from and not connected to your retirement account.

Questions? Call Empower at 855-375-3050.