Health savings account
Providence individual and family plans offer two high-deductible health plan options (Providence Oregon Standard Bronze HSA Choice Network and Providence Oregon Standard Bronze HSA Signature Network) that feature lower premiums and allow you to set aside tax-free dollars in a health savings account (HSA).
What is a health savings account?
An HSA is a tax-exempt savings account that you can pair with one of our HSA Qualified plans. HSA plan options provide comprehensive health insurance coverage by rolling over unused funds from year to year. You can save funds for future medical expenses and/or retirement.
Much like an Individual Retirement Account (IRA), an HSA is established through annual contributions by you. You can contribute up to 100 percent of your plan's deductible amount or up to the maximum contribution levels determined by the Internal Revenue Service each year.
Health savings accounts are managed by HSA trustees, usually a bank or other financial institution. You choose the institution that will administer your health savings accounts.
Get a preferred rate on your health savings account with HealthEquity
Providence Health Plan has partnered with HealthEquity to provide a preferred rate of $2.70 per month for our members. With HealthEquity, there is no account setup fee, and customer service is available 24/7.