HSA and CPS
Your Health Savings Account (HSA) coupled with a High Deductible Health Plan (HDHP) can help you save money on your health care expenses. By choosing the HDHP, you can significantly save on your health care premiums.
How Does a HDHP Work?
You are responsible for paying your covered medical and prescription expenses up to the deductible. You can use HSA funds to pay for these out-of-pocket expenses or you can reimburse yourself later. Save your receipts to prove that you used your HSA for qualified expenses.
How Does Your HSA Work?
For full time employees, Columbia Public Schools will make two contributions to your HSA anually for a total of $672.00. The first deposit will be in January for $448.00, and the second in September for $224.00. Part time employees will receive a prorated contribution.
The money in your HSA is always yours - no "use it or lose it" rule. All balances in your HSA remain in your account until spent. The money is yours even if you change health plans, jobs or retire.
HSA Annual Contribution Limits for 2026
| Employee | Family Coverage* | |
|---|---|---|
| IRS Allowable Maximum Contribution |
$4,400 | $8,750 |
| IRS Contribution Limit age 55 and older |
$5,400 | $9,750 |
HSA Annual Contribution Limits for 2025
| Employee | Family Coverage* | |
|---|---|---|
| IRS Allowable Maximum Contribution |
$4,300 | $8,550 |
| IRS Contribution Limit age 55 and older |
$5,300 | $9,550 |
*Family coverage consists of Employee plus one other person
Those age 55 and older may make an additional $1,000.00 catch-up contribution. Contributions are prorated for employees who enroll, change their level of coverage, or are hired mid-year in the HDHP during the plan year.