Health Savings Accounts (HSA)

If you are enrolled in an Intel High Deductible Health Plan (HDHP), you may be eligible to contribute pretax dollars to a Health Savings Account (HSA)*.

As the 401(k) record keeper, and the HSA provider, Fidelity offers a comprehensive financial planning experience through integrated tools and resources. Employees who decide to contribute to a Fidelity HSA for the first time through the My Health Benefits tool will receive a one-time $75 incentive from Fidelity.

A Health Savings Account (HSA) is a wonderful way to set aside pre-tax money to spend on qualified medical, pharmacy, dental and vision expenses. You can think of it as a personal savings account, except it’s only used for qualified expenses. It offers a triple-tax advantage: contributions, earnings from investments, and ongoing qualified expenses or withdraws can all be tax-free. Because it's your money, you can take it with you even if you leave Intel, change health plans or retire. There is no "use it or lose it" feature, such as what you see with spending accounts.

When paired with a high deductible health plan, an HSA allows you to put pre-tax money into your account through a payroll deduction. Then you draw on those funds when you need to pay for health care expenses. That way, you won’t have to worry if the unexpected happens—the HSA will be there when you need it. Also, if there are not enough funds in your HSA to cover a high expense, you can pay the medical bill with “regular after-tax money” or use a credit card and then reimburse yourself once your HSA has enough funds. The key is the money doesn’t already have to be in the HSA at the time of the expense. You just must be in a High Deductible Health Plan (HDHP) and contributing to an HSA when the medical costs are incurred.

*HSA is not an Intel-sponsored benefit; eligibility requirements apply, and contribution limits are set by the IRS.