Health Savings Account

Schneider Electric opens an HSA for you and contributes to your account in late January each year you participate in a Schneider Electric CDHP medical option. You can also make contributions to the HSA, up to IRS limits, as shown below.

Getting started

If you enroll in a CDHP option, you will be prompted to review and accept the terms and conditions associated with the HSA. PayFlex, the HSA administrator, will reach out to you if they need additional information to set up your account.

Key features of an HSA
  • Get triple tax savings:
    1. Contributions are tax-free: both Schneider Electric’s and yours.
    2. Money grows tax-free with interest.
    3. Withdrawals are tax-free for eligible expenses.
  • Decide if you want to contribute: You can start, change or stop your contributions anytime during the year at se-benefitslink.com.
  • Use now or save: 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.
  • Money is always yours: Because 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, even if you leave the Company or retire.
  • Invest your money: If you have at least $1,000 in your account, you can invest the additional money in a variety of mutual fund options. To access your account and for more information, visit payflex.com.

2022 HSA contribution limits

Who is covered Schneider Electric contribution* + Your maximum contribution** = 2022 IRS maximum contribution
Employee only $700 + $2,950 = $3,650
Family $1,400 + $5,900 = $7,300

* Contributions for new hires will be prorated and deposited based on your effective date for medical coverage.
** If you turn age 55 by December 31, 2022, you can contribute an additional $1,000.

Tips for better health and savings

You’re in charge with the CDHP + HSA options.

Why Scott Simms picked the Core CDHP + HSA.

Get rewarded for your healthy habits.

Available to you and your spouse (if they’re covered on a Schneider Electric medical plan), Virgin Pulse can help you prioritize well-being goals and activities each day.

  • Healthy habits: Select healthy habits you want to focus on and track your progress.
  • Challenges: Work toward your goals in a fun, competitive atmosphere by joining corporate challenges. You can even challenge yourself – or your friends – to live a healthier life by creating your own personal challenges.
  • Activity tracking: Tracking activities through Virgin Pulse – like steps, workouts and sleep – helps you visualize your progress and earn rewards! Track easily by syncing on your phone or on your activity tracker, or enter your activities manually.
  • Reach your goals: Get help to stay focused on achieving specific health goals with resources like sleep and nutrition guides as well as personal health coaches.
  • So much more: Get more fuel for your daily well-being goals by exploring everything Virgin Pulse has to offer, including Journeys, virtual fitness and mindfulness sessions and more!

Hear how Kara Greer uses the workout reminders from Virgin Pulse.