What’s new with Health Savings Account

Who is covered	Schneider Electric contribution	+	Your maximum contribution1, 2	=	2024 IRS maximum contribution
Employee only	$700	+	$3,450	=	$4,150
Family	$1,400	+	$6,900	=	$8,300

1. If you turn age 55 by December 31, 2024, you can contribute an additional $1,000.
2. Benefits Bucks applied toward your HSA will apply toward your maximum contribution limit.

Advantages of saving with an HSA

• Use now or save — even for retirement: When you incur eligible expenses, you decide…
  • If you want to use HSA dollars to pay the expense (funds are available when they’re posted to your account), or
  • Pay out of your own pocket and save your HSA dollars for future expenses. An HSA is a great way to save for expenses in retirement.
• Get triple-tax savings:
  1. Contributions are tax-free: both Schneider Electric’s and yours.
  2. Money grows tax-free with interest/earnings.
  3. Withdrawals are tax-free for eligible expenses.
• Money is always yours:
  • Any unused money in your HSA rolls over from year to year. You can save the money in your HSA to use in the future — the money is yours, even if you leave the Company or retire.
• Decide if you want to contribute: You can start, change or stop your contributions anytime during the year at se-benefitslink.com.
• Invest your money: If you have at least $1,000 in your account, you can invest in a variety of mutual fund options. To access your account and for more information, visit payflex.com.

Looking ahead

We all share in the cost of health care, and an HSA is a great way to pay for your expenses. In 2025, to receive any Schneider Electric HSA contribution, you’ll need to contribute to your HSA too: $100 for employee only coverage and $200 for family coverage.

If you’re not already contributing, why wait? You can use your HSA to grow your retirement savings for later and lower your taxes now!