Health Savings Account

A Health Savings Account (HSA) is an individually-owned, tax-free, interest-bearing savings account that is used to pay for qualified medical, dental and vision expenses. To be eligible for the HSA through Zuora, you must participate in the Blue Shield High Deductible Health Plan (HDHP).  HSA contributions can be used to pay for qualified medical expenses for yourself or your dependent(s) - even if your dependents are not covered by the HDHP. 

HDHP+HSA vs. Traditional PPO

When you enroll in the High Deductible Health Plan (HDHP), you effectively enjoy a deductible comparable to that of the PPO, thanks to Zuora’s contributions. Additionally, you gain the added benefit of tax-free savings through a Health Savings Account (HSA), enhancing your financial flexibility for medical expenses.

*Zuora’s contribution is made on a prorated basis, every pay period. 

HSA Eligibility

You can participate in the HSA if you are enrolled in the High Deductible Health Plan through Zuora. 

You cannot be enrolled in the HSA if you are:

• Covered by a separate non-qualified high deductible health plan.
• If you are receiving Social Security
• If you are enrolled in Medicare, Medicaid or Tricare
• If you can be claimed as a dependent on someone else’s tax return

Carryover Rules

HSA amounts roll over from year to year. The funds in the account are yours to keep, even if you leave Zuora. 

Managing your HSA

You can make changes to your HSA contribution amount at any time throughout the year. Any change will be effective on the first of the month following the update. Navigate to PlanSource (via Okta) to make a change to your HSA contribution amount. 

If you notice an HSA deduction from your paycheck but haven't yet seen the contribution reflected in your HSA account, please note that HSA contributions typically appear in participants' accounts within approximately 4 business days of the payroll date.

Sample Qualified Expenses

Sample Qualified Expenses:

• Deductibles & Copays
• Eyeglasses, Contacts & LASIK
• Dental Care
• Acupuncture
• Chiropractic Services
• Hearing Aids
• Laboratory Fees
• LTC Medical Expenses
• Stop-Smoking Programs
• Physical Therapy
• Psychiatric Care
• Psychological Counseling
• Nursing Home Care

For a full list of eligible expenses, visit the Navia website.

Sample Nonqualified Expenses

Sample Nonqualified Expenses:

• OTC Drugs (unless prescribed)
• Premiums
• Weight Loss Programs (unless prescribed)
• Cosmetic Surgery
• Child Care
• Health Club Dues
• Funeral Expenses
• Maternity Clothes
• Toiletries
• Swimming Lessons

HSA and Medicare

The IRS states that once you are enrolled in Medicare, you are no longer eligible to contribute to an HSA. Contributions must stop 6 months before the month you begin receiving Social Security benefits or enroll in Medicare.

Please email ZEOTotalRewards@zuora.com, at least six months in advance if this scenario will apply to you.

Resources

• HSA Calculator 
• HSA FAQ
• HSA Eligible Expenses