Overview

A Health Savings Account, often called an HSA, is a type of bank account specifically for individuals covered by high deductible plans, like those offered by Reliant. You can contribute to this plan tax-free, and the annual amount contributed to HSA is reported to the IRS each year with your tax return. The funds can be used for any legitimate medical expenses at any time in the future. You can pay for qualified health expenses now, as well as pay for future health expenses on a tax-advantaged basis. The funds in this HSA belong to you even beyond your employment with Reliant. 

Contributing to an HSA

Once you have enrolled in a Guidestone Health Saver plan, you will be able to set up an HSA through the Highmark website. Once you send confirmation to benefits@reliant.org that your HSA has been opened, Reliant will make the monthly contributions for you automatically.   There are two portions of the contributions that Reliant helps direct to your HSA each month: 

1. Employer Contribution - ER
   • This contribution comes from non-MTD Reliant funds. Reliant leadership sets the Employer contribution rate each year, and it is the same for all field workers based on their coverage level. Current contribution rates can be found in the table below. 
   • This contribution is not deducted from your paycheck.
   • This contribution does count towards the Annual Contribution Limits for your HSA. 
2. Employee Contribution - EE
   • This contribution is deducted from your paycheck each month. 
   • You determine how much you will save. Please reference Annual Contribution Limits when calculating your desired contribution.

   • Reliant will then deposit the employee contributions from your paychecks along with the Reliant employer contribution in to your HSA. 

   • This contribution is part of the Cafeteria Plan offerings from Reliant. It must be selected each year at Open Enrollment time.  You do have the ability to change, add, or drop a HSA election by filling out an updated cafeteria plan form.

   • Beginning in 2020, Reliant is offering a taxable ministry expense bonus that can be used to increase personal HSA contributions. You will need to accept the ME bonus on your support goal and then sign up in Open Enrollment for a HSA contribution as part of the cafeteria plan. This is depicted in the yellow column. 

Medicare Enrollment and HSA Restrictions

Upon reaching Age 65, if you decide to delay enrolling in Medicare, you must email us benefits@reliant.org with your expected enrollment date at least 6 months prior to enrolling in Medicare so that we can cease your HSA contributions.  This is because when you enroll in Medicare Part A, you receive up to six months of retroactive coverage, not going back farther than your initial month of eligibility. If you do not stop HSA contributions at least six months before Medicare enrollment, you may incur a tax penalty. For more information and details see Medicare FAQs

Contribution Amounts

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