As Open Enrollment approaches (Oct. 20-31), we’re highlighting National HSA Awareness Day on Tuesday, Oct. 15. Established in 2019, National HSA Awareness Day highlights how Health Savings Accounts (HSAs) empower employees to save for medical costs—both today and in retirement. An HSA can help you manage today’s healthcare expenses while building a tax-advantaged nest egg for the future.
At LMU, we value your health and financial security, which is why we pair our Anthem Blue Cross HealthSave Plan (a high-deductible health plan, or HDHP) with Bank of America’s HSA. If you’re enrolled in the HealthSave Plan, you’re already eligible to contribute to an HSA and receive LMU’s employer contributions. Now is the perfect time to review your current HSA or consider increasing your contributions to maximize your tax savings and long-term financial security.
By taking advantage of your HSA, you’re not only preparing for healthcare expenses, you’re investing in a healthier, more secure future. Make HSA Awareness Day the beginning of smarter saving at LMU.
Key Benefits of an LMU HSA
LMU’s SupportLMU’s contributions help you get started or grow your balance. 100% Employer-Paid Hospital Indemnity Coverage through MetLifeEnroll in the HealthSave Plan to receive automatic, no-cost coverage for you and your dependents—offering cash benefits to help with hospital stays and lower out-of-pocket expenses. |
Triple Tax SavingsContributions are pre-tax which lowers your taxable income. The earnings grow tax-free, and withdrawals for qualified medical expenses are tax-free—potentially saving you thousands annually. Investment PotentialInvest your balance for long-term growth, turning your HSA into a powerful retirement tool alongside your 403(b) retirement plan. |
Your Money, Your ControlFunds roll over year to year and stay with you, even if you retire or change jobs. Use them for deductibles, copays, prescriptions, vision, dental, or even future retirement healthcare costs (after age 65, penalty-free for non-medical uses). Easy AccessEasy Access |
Unlock More Savings: Once-in-a-Lifetime IRA Rollover to HSA
Have an IRA? You may be eligible for a one-time, tax-free rollover to your LMU HSA—up to your 2026 contribution limit. It’s an easy way to grow your balance without adding extra funds.
(Consult a tax advisor—rules apply (see IRS Pub. 969). Not LMU advice.)
- Requirements: Enrolled in HealthSave Plan; stay eligible 12 months after. No Medicare.
- One-Time Only: Lifetime limit per person—act now if eligible!
- Amount: Up to $4,400 (individual) or $8,750 (family), including catch-up. Counts toward annual total.
- How to initiate a direct transfer from your IRA trustee to a Bank of America HSA: Contact your IRA provider to get started.
- One-Time Only: Lifetime limit per person—act now if eligible!
- Amount: Up to $4,400 (individual) or $8,750 (family), including catch-up. Counts toward annual total.
- How to initiate a direct transfer from your IRA trustee to a Bank of America HSA: Contact your IRA provider to get started.
HSA Updates for 2026
If you enroll or are currently enrolled in the Anthem Blue Cross HealthSave Plan, the following will change for the HSA to meet IRS guidelines:
- Requirements: Enrolled in HealthSave Plan; stay eligible 12 months after. No Medicare.
- One-Time Only: Lifetime limit per person—act now if eligible!
- Amount: Up to $4,400 (individual) or $8,750 (family), including catch-up. Counts toward annual total.
- How to initiate a direct transfer from your IRA trustee to a Bank of America HSA: Contact your IRA provider to get started.
Ready to Take Action? During Open Enrollment, you can:
Got Questions? Contact the HR Benefits Team
Email: [email protected] | Phone: 310.338.2855 or 310.338.2723
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