What Is a Health Savings Account?

A Health Savings Account (HSA) is a plan designed to help you manage the rising cost of health care by allowing you to set aside money to pay for out-of-pocket medical expenses and to save for retirement. You can think of it as a personal savings account for medical expenses. HSAs are employee-owned accounts, meaning you take the HSA with you if you change employers. Unused funds will earn interest and can be invested until they are withdrawn for eligible expenses or at retirement.

You set aside money on a pre-tax basis — this means as long as you use the money for eligible expenses, you won’t pay income taxes on it. View a list of eligible medical expenses or use our Election Worksheet to estimate your health care costs.

2023 HSA Contribution Limits

  • Self-only — $3,850
  • Family — $7,750
  • HSA Catch-up Contributions for those ages 55+ — $1,000 

If you’re married, it can be difficult to determine the amount you are allowed to contribute to an HSA. Want to learn more? Download a guide on how much you can contribute depending on how you and your spouse are covered.

Increase Your Take-Home Pay 

In the example pictured, Jane estimates she will spend at least $2,300 on medical expenses for herself and her dependents next year. She decides to set aside $2,300 in her Surency Flex HSA. Take a look at how she can save.

Jane's Income/Expenses With HSA Without HSA
Jane's Annual Income $50,000 $50,000
Pre-Tax HSA Contributions 2,300 0
Jane's Taxable Income $47,700 $50,000
Taxes* 6,925 7,500
Jane's Take-Home Pay $40,775 $42,500
Jane's Out-of-Pocket Health Care Expenses 0 2,300
Jane's Spendable Income $40,775 $40,200
Jane's Savings $575  

The savings amounts in the example are provided by Surency for illustrative purposes only. You may save more or less based on your own tax situation. Some states do not recognize these tax exclusions for this program. No part of this website is tax, financial, or legal advice. You should consult your own legal and tax advisers regarding your personal situation and whether this is the right program for you.

How Does It Work?

Participating in a Surency Flex HSA is easy.

  1. Once you’ve enrolled and set your annual election amount, that amount will be automatically taken out of your paychecks in equal increments throughout the year before you pay federal, state, and FICA taxes on that amount of income. Post-tax contributions can also be made by check, online, or through the mobile app as long as it does not surpass the annual max for that year.
  2. When you are ready to use the money in your HSA for a qualified medical expense, just swipe your Surency Flex Benefits Card. If you don’t have a Surency Flex Benefits Card or you prefer to pay upfront then be reimbursed, you can file a claim electronically from the Member Account or Surency Flex Mobile App, and you will be reimbursed with money from your HSA as long as you have funds available.    
  3. Any unused funds in your HSA will roll over at the end of the year and will continue to earn interest and can be invested until they are withdrawn for medical expenses or until you turn 65 years old, when you can withdraw funds for any reason without incurring penalties.


Surency offers investment opportunities for HSA Accountholders as well as investment transfers. This feature allows you to increase the balance maintained in your Cash Account to whatever level works best for you before the surplus is automatically transferred to your investments. More cash means more dollars available immediately to pay medical expenses online or by using your Surency Flex Benefits Card. Learn more about how to invest and set up investment transfers.


You can use My HSA Planner to get a personalized recommendation on how much to contribute to your HSA. Take the quiz to see how much to contribute based on your lifestyle and financial goals.

Learn More