Health Savings Accounts

PTMA employees who enroll in the Cigna Healthcare Smart Saver Plan can elect to contribute to a Health Savings Account (HSA). An HSA is a personal, employee-owned account that helps you pay for eligible healthcare expenses for yourself and your dependents, now or in the future. Your HSA balance never expires and remains yours to keep, even if you change jobs or retire.

With an HSA, you enjoy triple tax advantages:

  • Your contributions are made pre-tax, reducing your taxable income.
  • Your savings grow tax-free through interest or investment earnings.
  • Withdrawals for qualified medical expenses are also tax-free.
Piggy Bank

Who Is Eligible?

Employees who enroll in the Smart Saver Plan from Cigna Healthcare are eligible to open and contribute to a Health Savings Account (HSA). To qualify under IRS rules, you must not be:

  • Covered by any other non-HSA medical plan or have a Medical Flexible Spending Account (FSA)
  • Covered as a dependent on a spouse’s health plan
  • Enrolled in Medicare or Tricare
  • Claimed as a dependent on someone else’s tax return

If you do not meet these criteria, you can start contributing to your HSA account through tax-free payroll deductions.

If you enroll in the Essential or Choice Plan from Cigna Healthcare—or are covered under a different plan (such as a spouse’s plan) that is not a High-Deductible Health Plan—you are not eligible for an HSA, but may be eligible for a Flexible Spending Account (FSA) instead.

Contributions + Limits

Contribution Limits

Each year, the IRS sets limits on how much you and your employer can contribute to your HSA. These limits apply to the total contributions made to your account from all sources combined.

Coverage Level2026 IRS Limit
Individual (Self Only)$4,400
Family Coverage$8,750
Catch-up Contribution for 55+Additional $1,000 per year

Employer Contribution

PTMA contributes to the Health Savings Account (HSA) of each eligible employee enrolled in the Cigna Healthcare Smart Saver (HDHP) Plan. Employer contributions are deposited quarterly, helping you build your balance throughout the year to cover eligible healthcare expenses. Annual contributions are $600 for Employee Only and $1200 for Families.

Smart Saver (HDHP) Plan1st Quarter2nd Quarter3rd Quarter4th Quarter
Employee Only$150$150$150$150
Family$300$300$300$300

Eligible Expenses

You can use your HSA funds for a wide range of IRS-approved healthcare expenses, including many that aren’t fully covered by your medical plan.

Medical Care

  • Office visits, lab work, X-rays, and hospital services
  • Prescription medications and insulin
  • Physical therapy and chiropractic care

Dental & Vision

  • Cleanings, fillings, braces, dentures
  • Eye exams, glasses, contact lenses, LASIK

Other Qualified Expenses

  • Mental health counseling
  • Hearing aids and batteries
  • Certain over-the-counter medicines and other products
Eligible Expenses

For detailed information on eligible healthcare and dependent care expenses, visit IRS.gov for official guidance and full lists of qualified expenses under Publications 502.

Managing Your HSA with WEX

Your HSA is administered by WEX, your account and debit card provider. WEX makes it easy to manage your funds, track spending, and access your balance anytime. With WEX, you can:

  • View balances and transaction history online or through the WEX Benefits Mobile App
  • Pay providers directly or reimburse yourself for eligible expenses
  • Upload receipts and manage claims securely
  • Access educational tools, FAQs, and tax documents

After enrolling in the HSA Plan, you’ll receive an email from WEX with instructions to set up your online account. You’ll also receive a WEX debit card to pay for eligible expenses directly from your HSA balance.

Read: 7 Basic Rules of an HSA

More Information

If you have questions about your Health Savings Account (HSA), or need help managing your WEX benefits card, the WEX customer care team can help.