With this HDHP arrangement, the employee is responsible for opening a tax-sheltered account (Health Savings Account, or HSA). The City of Kettering currently funds 100% of the HSA contributions to cover the annual deductible. The employee can make additional contributions, however, total contributions are limited annually per the IRS. Money put into this account can be used for future medical expenses and any unused money can be carried forward to the next year.
|