When you enroll in Health Choice 1 or 2, you’ll be asked to confirm your eligibility to contribute and agree to have a PNC BeneFit Plus HSA opened in your name. You can use the HSA to save money on a pretax basis* to pay for eligible health care expenses, now and in the future. Your HSA balance rolls over from year to year and is yours to keep, even if you leave PNC.
You can build your HSA balance through your and PNC’s contributions, if applicable, up to IRS limits (below):
|Available PNC Contributions to Your HSA in 2022|
|PNC Salary-Based Contribution*
(annual amount deposited in equal installments throughout the year)
(annual amount available for completing eligible wellness activities throughout the year)
2020 W-2 earnings (or base salary for those hired in 2021 or 2022)
|Employee Only||Employee + Eligible Family Members||For a covered employee||For a covered spouse/domestic partner|
|Less than $50,000||$400||$900||Up to $800||Up to $400|
|$50,000 but less than $100,00||$100||$350|
|$100,000 or more||$0||$0|
*The amount is prorated if you’re enrolled in Health Choice 1 or 2 and the HSA for less than the full year or if you change your participation during the year due to a qualified life event.
The IRS sets annual maximums for HSA contributions. For 2022, the maximum is $3,650 if you cover only yourself and $7,300 if you cover any eligible family members. These maximums include both your contributions and PNC’s contributions (including any Wellness Rewards redeemed as HSA contributions).
If you are age 55 or older or will reach age 55 during the year, you may contribute up to $1,000 in additional “catch-up” contributions.
Watch Five Great Things About an HSA, then check out the HSA User Guide for a closer look at how the account works, eligibility, contributions, eligible expenses and how to access and manage your account.
For details on HSA and Medicare, please review these guidelines.
* Contributions to an HSA are exempt from federal and most state taxes. Currently, only contributions in California and New Jersey are subject to state taxes.