Health Savings Account (HSA)
Like the HCRA and DCRA, The Health Savings Account (HSA) offers you another way to save on taxes when you pay for certain health care expenses. The HSA is administered by ConnectYourCare and is not subject to ERISA
The HSA is a special tax-advantaged bank account you can use to help pay for current and future eligible out-of-pocket health care expenses. Like the HCRA and DCRA, the IRS allows you to pay for certain health care expenses from your HSA with before-tax dollars, which means these expenses can actually cost you less. Unlike the HCRA and DCRA, there is no use-it-or-lose-it requirement — the account is yours to keep, even if you switch to a non-qualified high-deductible plan or your employment ends.
When you enroll in a qualified high-deductible health plan — in this case, the PG&E sponsored HSA Medical Plan, the Company automatically opens an HSA for you and contributes to the account on your behalf. You may also elect to put money into this special bank account by contributing before-tax salary dollars from your pay or by making after-tax contributions. Then, when you receive an eligible health care service, as defined by the IRS, you use this account to pay for the service or "reimburse" yourself on a before-tax basis.
You are not eligible for reimbursement account benefits if you are a contract or agency worker, employee receiving long-term disability benefits, hiring hall employee, or retired employee. Intermittent employees and other temporary employees who are not expected to become regular employees are also not eligible for coverage.