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 pretax dollars, now and in the future. To open an HSA, you must be enrolled in Five9’s Cigna HDHP, and you may not have non-HDHP medical coverage, including Medicare, Medicaid, or Tricare. You may not be a tax dependent. You (or your spouse) may not have a healthcare Flexible Spending Account, unless it’s a limited purpose FSA for dental and vision expenses only.
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. You own the account, even if you change jobs.
How the HSA Works
Five9 contributes: $150 per month ($1,800 annually) to the HSA for an employee enrolling only themselves in Five9’s Cigna HDHP and $240 per month ($2,880 annually) to the HSA for those enrolling one or more dependents in Five9’s Cigna HDHP. Five9’s HSA contribution is prorated based on your benefits effective date and coverage level.
- Individual: $4,300 per year
- Family: $8,550 per year
- Age 55+: $1,000 extra per year