Health Savings Account (HSA)

HSA Information – FY24 Benefits Guide

Per IRS guidelines, you must be enrolled in the Washington or Lincoln High Deductible Health Plan to contribute to an HSA. Health Savings Accounts (HSA) can be used to pay for covered medical, pharmacy, dental, and vision expenses with pre-tax dollars.

Please Note: Not everyone can contribute to an HSA. Certain situations make you ineligible, including if

• You are covered by another health plan that is not a qualified HDHP.
• You are covered by TRICARE.
• You are a dependent on someone else’s tax return.
• You are signed up for any Medicare coverage, including Parts A & B.
• You have a spouse contributing to a medical FSA.

If you enrolled in a High Deductible Health Plan and elected that you are eligible for an HSA, the State may contribute to your WEX account. If this is the first time you are opening an HSA account, WEX will send an email notifying you of your new enrollment. To receive contributions, you must first log into your WEX account and accept the terms and conditions as well as completing the US Patriot Act requirements.

The State does not monitor employees’ HSA contributions. Refunds will not be disbursed through payroll in the event of an over-contribution and/or mistaken contribution. Contribution limits for the year can vary on a variety of factors, which is why we strongly encourage you to consult with your tax advisor if you are unsure or have questions regarding your HSA contribution limits. Please take the time to view your HSA contributions to ensure you are under the IRS maximum.

HSA documents

• WEX Claim Form
• Deductible Verification Form
• HSA Distribution Request Account Closure Form 
• Instructions for opening your HSA account
• HSA FAQ
• HSA Employee Handout
• HSA tax form infographic
• Patriot Act Requirements
• HSA Blocked Account Verification Form
• Custodial Agreement and Disclosure Statement
• Electronic Disclosure Statement
• HSA Savings Calculator 

Health Savings Account Videos

• Review the HSA basics
• Why Should I Get a Health Savings Account?
• Get free money by opening your HSA
• See what you can pay for with your HSA
• Find your prescription for less
• Use your HSA to save for future expenses
• HSA vs FSA

Please Note: If you need to make a change to the amount deducted for an HSA, please call the Benefits Division at 605.773.3148 or email benefitswebsite@state.sd.us to request the proper form.