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Health Savings Account (HSA)

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Last updated date: 4/2/2024

Available to Robert Half and Protiviti employees and Full-Time Engagement Professionals — refer to your benefits guide for the plans available to you.

Overview

If you enroll in the $1,600 Deductible Plan or the $2,500 Deductible Plan, you have access to a unique tax-advantaged savings account called a Health Savings Account, or HSA. You can use this account to pay for eligible health care expenses for you and your eligible dependents on a federal tax-free basis. Robert Half’s HSA is administered by HSA Bank. The custodial bank is UMB Healthcare Services. You may receive communications from both partners regarding your HSA.

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Key Features

Here are 7 great features about an HSA and why it might be a great option for you and your family. Be sure to also review the HSA documents in Resources.

Enjoy the triple tax advantage

The money you put into your HSA 1) is before federal tax, 2) is not taxed if used for qualified expenses and 3) can receive earnings, which aren’t subject to federal tax.*

* Tax-free status applies to federal taxes but varies by state. Currently, California and New Jersey don’t allow favorable tax treatment of HSAs. New Hampshire and Tennessee tax dividend and interest earnings after a certain dollar amount. Check with your financial advisor to determine how HSA contributions, earnings and distributions are taxed in your state.

Jump start your savings

Robert Half will match a portion of your HSA contribution if eligible. You can use this money to help pay for eligible expenses.

(Full-Time Engagement Professionals and Protiviti Variable employees are not eligible to receive matching HSA contributions.)

Own the account

You always own the money in your HSA, even if you change medical plans or leave Robert Half. This includes any matching contribution you receive from Robert Half (if applicable), as well as interest and investment earnings.

Control how you use it

Your HSA balance rolls over from year to year. Unlike an FSA where you must “use it or lose it,” you will never lose the money in your account. Your account balance will continue to grow year after year.

You may choose to use the money in your HSA now or in the future. Use your HSA funds for qualified expenses, or pay out of pocket and save your funds for a later date.

Invest your savings

You have the option to invest in a variety of mutual funds once your HSA balance reaches a minimum level. Information about investment options through HSA Bank is available online at HSA Bank.

Save for medical expenses in the future

By building up your HSA account from year to year, you’ll be able to use the money for future medical expenses.

More About HSAs

Check out these videos from HSA Bank:

Setting Up Your HSA

An HSA will be opened for you if you elect to make pre-tax payroll contributions when you enroll through the Empyrean Benefits Enrollment platform​. The HSA is administered by HSA Bank, and the custodial bank is UMB Healthcare Services.

Once your account is set up, you’ll receive an HSA welcome email that will include useful information about your account. You’ll also receive an HSA debit card in the mail, which will allow you to conveniently pay for eligible expenses at the point of service.

Enrollment Tip

When you open an HSA, HSA Bank is required to verify your identity as part of the federal Patriot Act. You’ll need to provide a valid physical mailing address, not a P.O. box. If there are questions about your personal information as a result of the Patriot Act inquiries, HSA Bank will contact you directly by mail.

If your identity isn’t verified by HSA Bank or if you fail to comply with the information requests, your HSA will be terminated if you haven’t resolved your account after 90 days, and contributions will become taxable. For help re-electing an HSA, go to Empyrean Benefits Enrollment platform​ or call 1.855.RHI-BENE.

Contribution Limits

You can contribute to the HSA to help pay for eligible medical, dental, vision and prescription drug expenses, now or in the future. The company may contribute too. How do I earn company contributions?

Company Matching Contributions*

For 2024, Robert Half will add to your HSA savings* when you make contributions. For every $1 you contribute to your HSA through payroll deductions, Robert Half will provide a matching contribution of $0.50, to a maximum of:

  • $500, if you enroll in the $1,600 Deductible Plan
  • $1,000, if you enroll in the $2,500 Deductible Plan

For example:

  • If you enroll in the $1,600 Deductible Plan and contribute $1,600 to your HSA, Robert Half will contribute $500. (You must contribute $1,000 to receive Robert Half’s full contribution of $500.)
  • If you enroll in the $2,500 Deductible Plan and contribute $1,600 to your HSA, Robert Half will contribute $750. (You must contribute $2,000 to receive Robert Half’s full contribution of $1,000.)

*Note: Full-Time Engagement Professionals and Protiviti Variable employees are not eligible to receive matching HSA contributions.

Medical Plan ElectionIf Robert Half Matches 50% of Your Contribution Up to…*If You Receive Robert Half’s Full Contribution, You Can Contribute Up to… Annual Total Contribution Limit
$1,600 Deductible Plan
Individual$500$3,650**$4,150
Family$500$7,800**$8,300
$2,500 Deductible Plan
Individual$1,000$3,150**$4,150
Family$1,000$7,300**$8,300

* Full-Time Engagement Professionals and Protiviti Variable employees are not eligible to receive matching HSA contributions.

** If you’re age 55 or older, you can add $1,000 to your contribution amount.

Paying for Eligible Expenses

There are three ways to use your HSA to pay for eligible expenses:

  • Use your HSA debit card to pay directly at the point of service
  • Pay for services out of pocket and submit a claim for reimbursement
  • Use your HSA debit card to pay bills you receive from your provider’s office

If you don’t want to use the money in your HSA, you can also choose to pay for services out of pocket and not submit a claim for reimbursement. This way you save the money in your HSA for future medical needs.

You can use your HSA for out-of-pocket expenses that would generally qualify for the medical, dental and vision expense income-tax deduction:

✓ Deductibles
✓ Office visits
✓ Prescription drugs
✓ Hospital stays and lab work
✓ Speech/occupational/physical therapy
✓ Dental care
✓ Vision care

For a complete list of eligible expenses, see IRS Publication 502.

Qualified Dependents

Your HSA funds can be used for care for you and any of your qualified dependents as defined by the IRS, including your:

  • Spouse (including same-sex spouses)
  • Children who are considered IRS tax dependents up to age 26, including stepchildren, foster children, children placed for adoption, legally adopted children, and children of domestic partners.
  • Incapacitated children age 26 and over who are permanently and totally disabled.

Please consult your tax advisor to see if your dependent meets the definition of an eligible dependent.

Save Your Receipts

Be sure to save your receipts — they’re your records of eligible expenses. Also, you may be asked to provide them as proof of payment.

HSA vs. FSA

In addition to the HSA, Robert Half offers two types of Flexible Spending Accounts (FSAs) that can be used to pay for health care expenses. All of these can reduce your taxable income and may result in you paying less in taxes.

Note: The medical plan option you choose determines what tax-advantaged account — or accounts — you can use.

Use the following tables to compare the features of an HSA vs. the FSAs.

Who’s Eligible?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Health Care FSALimited Use FSA
Employees who enroll in the $1,600 Deductible Plan or the $2,500 Deductible Plan
  • Employees who don’t enroll in a high-deductible medical plan
  • Employees who enroll in the $1,600 Deductible Plan or the $2,500 Deductible Plan and choose not to contribute to an HSA
Employees who:
  • Enroll in the $1,600 Deductible Plan or the $2,500 Deductible Plan
    • AND
  • Elect to contribute to an HSA

How Much Can I Contribute in 2024?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Health Care FSALimited Use FSA
  • $4,150 for single coverage
  • $8,300 for family coverage

Includes both your contributions and any contributions from Robert Half

Age 55 or older? Contribute an additional $1,000 per year

 $3,200* $3,200*

* Note to Highly Compensated Employees: If you are a Highly Compensated Employee (as defined by the IRS), it is possible your FSA contributions may be limited prior to the beginning of the plan year or suspended during the plan year depending on the outcome of certain nondiscrimination tests imposed on FSAs by the IRS. If a limitation or suspension becomes necessary, you will be notified in writing before it happens.

Will Robert Half Contribute?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Health Care FSALimited Use FSA
Yes; for 2024, Robert Half matches $0.50 of every $1 you contribute, up to certain limits*NoNo

* Robert Half matching contributions are not available to Full-Time Engagement Professionals, Protiviti Variable employees or part-time Robert Half employees.

What Are Eligible Expenses?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Health Care FSALimited Use FSA
Medical, prescription drug, dental and vision expenses not paid by your insurance*Medical, prescription drug, dental and vision expenses not paid by your insurance*Dental and vision expenses only until you meet the IRS deductible limit of:
  • $1,500 for individual coverage
  • $3,000 for family coverage
Once you meet the IRS deductible limit and submit the appropriate verification form for approval, funds can also be used for medical expenses.

*See IRS Publication 502 for a complete listing of eligible health care expenses.

What Funds Are Available?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Health Care FSALimited Use FSA
Only the money in your accountYour full contribution amount at the beginning of the year.Your full contribution amount at the beginning of the year.

How Do I Pay for Eligible Expenses?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Health Care FSALimited Use FSA
Use your Mercer Marketplace 365/TRI-AD Benefits Card or file a claim for reimbursementUse your Mercer Marketplace 365/TRI-AD Benefits Card or file a claim for reimbursementFor dental and vision expenses, use your Mercer Marketplace 365/TRI-AD Benefits Card (the same one that you use for your HSA expenses), or you can file claims directly for reimbursement.
For medical expenses (once eligible), claims must be submitted manually.

What Is the Deadline for Reimbursement?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
NoneFor expenses incurred January 1 – December 31, 2024, you may submit claims for eligible expenses until March 31, 2025.

What Happens to Unused Contributions?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Unused funds roll over for future health care expensesUnused funds are forfeited at the end of the year — go to Empyrean Benefits Enrollment platform​ to help calculate your expenses.

Can I Change My Contributions?

Health Savings Account (HSA)Flexible Spending Accounts (FSAs)
Yes, at any time; subject to administrative processing timeOnly within 30 days of a qualified life event, such as marriage or birth

Where Do I Go for Questions?