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GM Health Savings Accounts Information

The HSA

  • A Health Savings Account (HSA) is a tax-advantaged medical savings account that works with a high-deductible health plan. 
  • GM contributes $1,500 to the HSA for eligible employees
  • You can contribute funds into your HSA on a pre-tax basis to save for current and future medical expenses

HSA Tax Facts

  • All contributions are made tax-free
  • Your investment earnings are tax-free
  • Your withdrawals for qualified health care expenses are tax-free

3 Ways You Can Save

  • Pre-tax contributions
  • Tax-free interest and investment earnings
  • Tax-free payments for qualified medical expenses

Are You Taking Full Advantage?

  • Consider contributing more than you need to spend in the year, so next year begins with a positive balance
  • If you have more than $1,000 in cash in your HSA, you may consider investing in the available mutual funds, any earnings are tax-free

HSA Resources

  • Get a complete list of qualified health care expenses online at saveituseit.com
  • Get the "MyHealth" mobile app. It's your health account on the go. You can download the app directly form the App Store or Google Play

Getting Started

  • Go to the GM Benefits homepage to enroll