A Health Savings Account (HSA) is a savings account with major tax advantages that you can use to help pay for health care expenses. You must enroll in the Health Savings PPO to open an HSA — this is a high-deductible health plan (HDHP). If you do, Illumina will contribute money to your HSA.
You don’t pay federal taxes on your contributions to your HSA, earnings or withdrawals (as long as the expenses are eligible).
Plus, Illumina contributes to your HSA, which can help you with health care expenses now or build savings over time.
After you enroll, you’ll receive an HSA debit card and instructions on how to use your HSA.
You can spend your HSA today or save it for the future!
Your unused HSA dollars roll over from year to year and earn interest.
Once your account reaches $2,000, you can move any balance above that amount into mutual funds and direct your investment strategy. (You pay any fees associated with directed investments.)
During enrollment, you choose the amount you want to contribute to your HSA for the calendar year. That amount is deducted from your paycheck on a pre-tax basis and deposited into your HSA. You can start or change your contributions anytime through Workday. All contributions — yours and Illumina’s — are always yours to keep even if you change medical plans or leave the company.
Illumina’s contribution is deposited into your account at the beginning of each Plan Year, or within 1‒2 pay periods if you join the plan as a new hire midyear. You don’t have to contribute your own money to get the company contribution.
$1,000
$1,500
$1,000
$1,500
Up to $3,400
Up to $4,400
Up to $7,250
Up to $8,250
$4,400
$5,400
$8,750
$9,750
Connect with the Dedicated Member Services Team at HealthEquity at 1-877-857-6810, 7:00 am – 6:00 pm MST.
HSA dollars can be used for qualified medical, dental and vision expenses for yourself, your spouse and your tax dependents.
See the full list of HSA expenses allowed by the IRS.
Once you reach age 65, you can use your HSA for other expenses too; your withdrawals will be taxed but there is no extra tax penalty.
You cannot contribute to an HSA if you’re covered by other insurance, including Medicare, or if you are a dependent on anyone else’s tax return. Learn more when you enroll or by reading the IRS rules for HSAs.
This website provides an overview of the benefit plans and programs available to eligible Illumina, Inc. employees. It is intended for informational purposes only and does not create any contractual rights or entitlements. If there is any discrepancy between the information on this site and the official plan documents or insurance contracts, the plan documents or contracts will govern. Illumina, Inc. reserves the right to add, delete or change any of the benefit programs at any time, for any reason, subject to applicable law.