Health Savings Account
HEALTH SAVINGS ACCOUNT
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AN HSA IS EASY TO USE:
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•If you enroll in the medical HDHP, an HSA will automatically be opened for you. Account information will be mailed to your home in January
•There is no cost for you to open an HSA
•Monthly fees are paid by Dillon Precision Products
WE WILL HELP YOU START SAVING!
If you enroll in the medical HDHP, we will help you start saving for your health care by contributing money to your HSA.
Employee only: Company Match 50% up to $1,000 per year maximum
Employees + 1 Dependent or more: Company Match 50% up to $1,500 per year maximum
Employer monthly contributions will be released to employee HSA at the end of each month.
CONTRIBUTIONS ARE MADE PER PAYCHECK
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Contribute up to the IRS limits
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Contributions to an HSA (including the Dillon Precision Products, Inc.’s contribution) cannot exceed the annual IRS contribution limits. The IRS calendar year maximum contributions are:
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Employee-only coverage: $4,400
All other coverage tiers: $8,750
Employees age 55+ by December 31 may contribute an additional $1,000 catch-up contribution to their HSA.