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Health Savings Account (HSA) Overview

If you enroll in the HDHP, you may open a Health Savings Account (HSA). An HSA is a bank account that can be used to pay for qualified healthcare expenses, such as your deductible, coinsurance and prescription drug costs, on a tax-free basis.

To fund the HSA, you may contribute tax-free dollars from your paycheck — and receive tax-free contributions from Apple Bank! HSA applications can be found in Workday and can be uploaded directly in your enrollment event.

In 2026 there are 27 pay periods and HSA contributions will cap at the 26th pay. Calculate carefully if you wish to reach the annual maximum.

  1. Apple Bank funds a portion of your HSA: The Bank will contribute up to $600 for individual coverage and up to $1,200 for all other coverage levels annually and paid into your account on a biweekly basis (prorated based on dates of participation).
  3. It’s flexible: Use your HSA now, or save it for later. You decide when to save and when to spend. You can even save for healthcare expenses after you retire.
  4. No “use it or lose it” rule: The money in your HSA belongs to you. It rolls over each year, and you can take it with you if you leave the Bank.
  5. Triple tax advantages:*
    – Pay no taxes on money you contribute.
    – Pay no taxes on interest you earn.
    – Pay no taxes when you withdraw money for qualified expenses.

    * Applies to federal and most state taxes.

The only time you would ever pay taxes on the money in your Health Savings Account is if you use the funds for non-qualified purposes or you make contributions in excess of the annual limits.

Any funds not used during the year can be rolled forward to future years or can be used to pay for retiree medical expenses, COBRA premiums, Long Term Care, as well as dental and vision expenses.

NOTE: Just like any other bank account, money in the HSA is only available to you once it has been deposited into the account. Please call the Benefits Help Desk at 877-373-6535 or consult with your tax advisor if you will turn age 65 later this year or next, for further guidance.

You may choose to make pre-tax contributions to your HSA.

  • The amount you are allowed to contribute is regulated by federal law. The IRS maximum limits are outlined in the sidebar table at right. Limits include employer contributions of $600 individual / $1,200 family.
  • If you are age 55 or older, you may make additional pre-tax catchup contributions of up to $1,000 per year. This maximum is inclusive of Apple Bank contributions.
  • You can change the amount of your HSA contributions anytime during the year.

For more information on the Health Savings Account (HSA) please refer to IRS Publication 969 www.irs.gov/pub969 and IRS Allowable expenses IRS Publication 502 www.irs.gov/pub502

IMPORTANT: If you currently do not have an HSA with Apple Bank, you must set one up before your contributions can be deposited into your account.

  • You must be enrolled in a high deductible health plan (HDHP)
  • You must not be enrolled in Medicare
  • You must not be covered by other medical insurance
  • Your spouse must not be contributing to/participating in a general purpose healthcare FSA through his/her employer
  • You must not be listed as a dependent on someone else’s tax returns
HOW TO START UP AN HSA ACCOUNT
HSA applications can be found in Workday and can be uploaded directly in your enrollment event.
You can conveniently manage your HSA with online banking. Create your account at applebank.com.
APPLE BANK CONTRIBUTIONS TO YOUR HSA
The Bank will contribute $600 for individual coverage and $1,200 for all other coverage levels annually, and paid into your account on a biweekly basis.
Apple Bank Contributions to Your HSA
Benefit 2026 IRS Maximum Apple Bank
Contribution		 Your Pre-Tax Maximum Contribution
Individual Coverage $4,400 $600 $3,800
Family Coverage $8,750 $1,200 $7,550
Health Savings (HSA) Catch-up Over Age 55 $1,000 – $1,000