Health Savings Account (HSA)

Your Health Savings Account has transitioned from WageWorks to HealthEquity

HealthEquity created a resource page to help you navigate the transition.

  • Familiarize yourself with important dates.
  • Find answers to frequently asked questions.
  • Sign up for webinars that empower you to get more from your HSA.

If you have any questions, please contact HealthEquity Member Services at 844-351-6849. They are available 24/7.

If you choose the REI Saver Medical Plan, you can open an HSA. REI contributes money to your account (up to $500 per year for individual coverage or $1,000 per year for family coverage), which you can save or use to pay qualified health care expenses. REI will allocate funds evenly throughout the year when you set up your HSA. If you join the plan mid-year, the amount REI contributes will be pro-rated.

You own the account once you set it up—even if you leave REI—and any unused funds roll over from year to year. (Unlike a Flexible Spending Account, the HSA has no “use it or lose it” rule.) So, you can use your HSA funds now or for future health care needs, even into retirement.

Triple-Tax Advantages

The HSA has other perks, too, like its triple-tax advantages:

  • You can make pre-tax contributions, which can reduce your taxable income.
  • Funds grow tax-deferred over time, and when your account balance reaches $1,000, you have additional investment fund options.
  • Withdrawals are tax-free if they are used for qualified health care expenses. When you reach age 65, you can use the money for non-health care expenses with no tax penalty.

Watch and Learn about the HSA and FSAs

Available To

Eligible part-time and full-time employees who are enrolled in the REI Saver Medical Plan. If you are enrolled in another plan or you or your spouse have a Health Care FSA through another employer, you cannot have an HSA.

What It’s For

To reimburse certain health care costs for you, your spouse and your children.*

Maximum Annual Contribution (Employee and REI Contributions Combined)

  • $3,500 for the 2019 calendar year, and $3,550 for the 2020 calendar year, if enrolled in the REI Saver Medical Plan and covering employee only.
  • $7,000 for the 2019 calendar year, and $7,100 for the 2020 calendar year, if enrolled in the REI Saver Medical Plan and covering employee plus dependent(s).
  • Employees 55+ years can contribute an extra $1,000 for the calendar year.

Examples of Eligible Expenses

Deductibles, coinsurance and copays for qualified health care expenses and prescription medications. See the full list of eligible expenses.

Funds Rollover

Yes, all funds roll over.

Account Fee

HealthEquity, the bank that holds the account, will charge a $2 monthly maintenance fee for accounts that have balances less than $5,000. The fee will automatically be deducted from your account.

Contact HealthEquity for more information.

* Under the HSA, you can only be reimbursed for eligible health care expenses for dependent children as defined by the IRS. See the Medical page for details. To learn more about eligible reimbursements through your HSA for your life partner or child of your life partner, see the REI Benefits Plan Summary Plan Description.

There are special IRS rules pertaining to owning an HSA, making contributions and how the funds are used. If you have questions, check out the medical FAQs, or talk to HealthEquity or your tax or financial advisor.

HealthEquity

Health Savings Account

HealthEquity Member Services
844-351-6849 (24/7)

Claims Mailing address:
15 W Scenic Point Dr, Ste 100
Draper, UT 84020