Employees currently enrolled in the University of Colorado’s Health Savings Account must select their 2017 contribution amounts by Dec. 9. If employees do not act, their enrollment will be waived effective Jan. 1, 2017.
During the enrollment period, current HSA enrollees can select how much money they would like to place into an HSA for 2017. The 2017 contribution limits are $3,400 for an individual and $6,750 for a family. Employees over age 55 may contribute an additional $1,000 per year.
This year-end enrollment is taking place for current enrollees because CU’s HSA record keeper will change from Wells Fargo to Optum Bank on Jan. 1. As part of this transition, the university will change its HSA enrollment from a fiscal year (July 1 to June 30) to a calendar year (Jan. 1 to Dec. 31).
Employees who are currently enrolled and who do not enroll during this period may enroll in an HSA in 2017, but will not have HSA deductions taken from their January paychecks.
For employees who are not currently enrolled in an HSA but are enrolled in CU Health Plan – High Deductible, the option to enroll in CU’s HSA is available at any time.
Employees with questions about the transition or who need assistance enrolling may call an Employee Services benefits professional at 303-860-4200, option 3, or email email@example.com.
For more information on the HSA enrollment period, visit this website.