A health savings account (HSA) is a tax-advantaged savings account you can use to pay for eligible medical, Rx, dental and vision expenses – like office visits, X-rays, lab work and prescriptions – for you and anyone you claim on your taxes. If you are enrolled in one of FirstEnergy’s high-deductible health plans (HDHP), you can contribute to an HSA through Anthem’s financial partner HealthEquity.

You can contribute dollars on a pre-tax basis through payroll deduction up to the IRS maximum limit. Contributions, earnings and distributions are exempt from federal income and Social Security taxes when used to pay for qualified expenses now or in the future. Money left in your account at the end of the year rolls over into the next year. If you change health plans or leave the company, your HSA goes with you. The company pays your $2.95 monthly HSA fee while you are an active employee enrolled in one of the HDHP plans.  You will be required to pay the $2.95 monthly HSA fee - if you have a remaining balance - once you are no longer active or enrolled in a HDHP.

  • It’s flexible. Use it now to pay for eligible expenses. Or, save it for your future health care needs and let the balance grow.
  • The money is yours to keep—forever. Take your HSA with you when you leave the company or retire.
  • No “use it or lose it.” Unlike a flexible spending account, your account balance rolls over and continues to grow tax-free each year.
  • You can invest it. Once your account balance reaches $1,000, you can invest in mutual funds and any investment earnings are tax-free.

Tax year
HSA contribution limit
  Individual Family  
2023 $3,850 $7,750
At age 55, an additional $1,000 is allowed annually

Health Savings Account Info for Domestic Partners

If an employee enrolls their domestic partner onto a FirstEnergy medical plan, they are permitted to contribute into their HealthEquity HSA for the domestic partner, even if the domestic partner is not eligible for an HSA.  However, the employee is not permitted to use their HSA to pay for the domestic partner’s expenses unless the domestic partner qualifies in another way - such as being a tax dependent due to disability. Contact HealthEquity at 877-713-7712 for more information.

  • Click here to learn more about your HSA
  • View/print a booklet that explains the benefits of electing a HDHP plan with a health savings account (HSA)
  • Click here to view the IRS Publication 969 to learn more about who is eligible for an HSA, how much you can contribute, what you can use the money for and tax filing requirements.
  • Click here to view the IRS Publication 502 to learn more about what expenses are eligible from an HSA.
  • Click here to learn about Medicare eligibility and your HSA.
  • Click here to learn more about how your HSA coordinates with Medicare and Military Benefits
  • Click here to view HealthEquity’s investment guide.
  • HSA Fees
  • HSA Guidebook