Tips to maximize your savings

Generic prescriptions

Generic prescriptions typically cost 30 - 80% less than their brand equivalent. We encourage you to consult your provider about generic prescription options. Your insurance plan may offer a prescription pricing tool for comparisons.

Urgent care vs. emergency room

A visit to the emergency room can cost three to seven times more than a visit to an urgent care facility that can provide the same treatment. You should consider only going to the emergency room in a potentially life threatening situation. Furthermore, an appointment made with your primary physician will be typically less expensive than a visit to the urgent care.

Max out your HSA contributions

Each year, the IRS gives you the chance to save up to a fixed amount on HSA contributions. To get the most out of this opportunity, you should contribute the maximum allowed:

1 Annual maximum contribution amount is employer and employee contributions combined.

2 If you are over the age of 55, you may also make an additional 'catch-up' contribution of $1,000.

You have until the tax filing deadline (usually April 15) to contribute the maximum amount. You should consider making a deposit to your account through check or EFT in the first quarter of the year (for the prior year) if you haven’t maximized your deposits. Payroll deductions can only be applied to the current year in which they are withheld.