Savings & Spending Accounts

You can save money on eligible health care by paying for them with tax-advantaged accounts.

Overview

Mercury offers you the following accounts and encourages you to take full advantage of their money-saving potential. You can enroll in them on the UKG website as a new hire, during Open Enrollment, or if you have a qualifying life event. Note: You must enroll in these accounts each Open Enrollment if you want to contribute the next year, even if you already participate.

Tax-advantaged accounts

Health Savings Account (HSA)
Administered by: HealthEquity
Available only to employees who enroll in the Blue Shield $aver/HSA plan or Blue Shield Super $aver/HSA plan.

Health Care Flexible Spending Account (FSA)
Administered by: Inspira Financial
Available to employees who enroll in the Kaiser Permanente Deductible HMO¹, Blue Shield HMO¹, Blue Shield HMO Trio¹, Blue Shield EPO² or do not elect medical coverage through Mercury.

¹ Available in California only

² Available outside California only

Tax-free money. Money goes in tax-free* and comes out tax-free when it’s used for eligible expenses.
Convenient payroll deductions. Contribute to your accounts easily and effortlessly.
Helpful budgeting tool. Plan for upcoming expenses by setting aside money each paycheck.

* Contributions are not subject to federal tax. Exceptions include California and New Jersey, where you’ll pay state tax on HSA contributions, and New Hampshire and Tennessee where state taxes apply to tax dividend and interest earnings after a certain dollar amount. In New Jersey, FSA contributions are also subject to state tax. Consult with your tax advisor to understand the potential tax consequences of enrolling in an HSA or FSA.

Contacts

HealthEquity
866-346-5800
Health Savings Account

Inspira Financial
844-729-3539
Flexible Spending Accounts

Documents

Videos

Compare the accounts

HSA vs. FSAs

Access your account

Manage your HSA
Manage your FSA

Eligible expenses

HSA
FSA

How much could you save?

Here’s an example. Let’s say Tom decides to set aside $2,000 in an HSA or FSA for the year. Normally, on that money, he’d pay $480 in federal income tax, $100 in state income tax, and $153 in payroll tax. So, by contributing that $2,000 to his HSA or FSA, he’ll get $733 in tax savings for the year.

Without an HSA or FSA, Tom would pay …	Savings
24% in federal income tax	$480
5% in state income tax*	$100
7.65% in payroll tax	$153
His total tax savings for the year with an HSA or FSA	$733

This hypothetical illustration is for educational purposes only. Dollar amounts or savings will vary depending on income, state and city tax rules, and other factors. Please consult a tax, legal, or financial advisor about your own personal situation.

Health Savings Account

With the Blue Shield $aver/HSA plan and Blue Shield Super $aver/HSA plan, you’re eligible to open and contribute money to a Health Savings Account (HSA) through HealthEquity. The HSA is a tax-free savings account that you own. You can use it to pay for eligible health expenses anytime, even in retirement.

Get unbeatable advantages with an HSA

The HSA has a triple-tax advantage that beats even a 401(k) or Roth IRA. And, Mercury will contribute to your account, too!

Put money in tax-free

You contribute to your HSA through pre-tax payroll deductions. If you need to, you can change your contribution amount anytime.

Get conmopany contributions

Mercury will contribute $600 if you have team member-only medical plan coverage, $950 if you have team member + 1 medical plan coverage, or $1,200 if you have family medical plan coverage.

Pay for care tax-free*

Pay for eligible medical, dental, and vision expenses for you and your family using your HSA debit card (provided sufficient funds are in your account). Track your spending, check your balance, reimburse yourself, and more on HealthEquity.

Grow money for the future tax-free

All the money in your HSA is yours to keep, year after year. You can build up savings through tax-free interest and even invest your money once it reaches a minimum balance, which gives you the potential for tax-free earnings growth and a way to plan ahead.

*Money in an HSA can be withdrawn tax-free as long as it is used to pay for qualified health-related expenses. If money is used for ineligible expenses, you will pay ordinary income tax on the amount withdrawn, plus a 20% penalty tax if you withdraw the money before age 65

Contribution limits

Keep in mind, the maximum amount you and Mercury can contribute to your HSA is determined by annual limits that the IRS sets.

Contribution limits	Team member only coverage	Team member + 1 coverage	Family coverage
Company Contribution	$600	$950	$1,200
Your Annual Maximum Contribution*	$3,550	$7,350	$7,100
Total allowed by the IRS in 2024**	$4,150	$8,300	$8,300

* If you are age 55 or older, you can contribute an extra $1,000 to your HSA.

** This includes Mercury's contribution and your own contributions.

Who’s eligible for an HSA?

In order to establish and contribute to an HSA, you:

Must be enrolled in the Blue Shield $aver/HSA plan, Blue Shield Super $aver/HSA plan, or another qualified high-deductible medical plan.
Cannot simultaneously participate in the Health Care FSA
Cannot be enrolled in any other medical coverage, including a spouse’s plan or Medicare.
Cannot be claimed as a dependent on someone else’s tax return.
Must be a U.S. resident
Cannot be a veteran who has received veterans’ benefits within the last three months
Cannot be active military

You should review IRS rules for making HSA contributions if you will turn age 65 during the year. For more information, see IRS Publication 969.

Getting started

To contribute to an HSA, you must be enrolled in the Blue Shield $aver/HSA plan or Blue Shield Super $aver/HSA plan. If you’re enrolled and haven’t opened your HSA yet, visit HealthEquity to open your account. If you’re not enrolled in the Blue Shield $aver/HSA plan or Blue Shield Super $aver/HSA plan, you may enroll during the next Open Enrollment period.

As you start using your account, keep in mind that you can only spend money that has actually been deposited into your account — your entire annual contribution amount is not available to you from the beginning of the plan year. Your HSA balance will grow as deposits are made from each paycheck.

Flexible Spending Accounts

Using an FSA is like getting a discount on everyday health and/or dependent care expenses because you’re paying with tax-free money. There are separate FSAs for health care and dependent care. Our FSAs are administered by Inspira Financial.

With FSA money, you “use it or lose it.” If you have a balance left in your FSA as year-end approaches, try to spend as much of it as you can on eligible expenses. Request reimbursement or manage your account on Inspira Financial.

Health Care FSA

A Health Care FSA is available to employees who enroll in the Kaiser Permanente Deductible HMO¹, Blue Shield HMO¹, Blue Shield HMO Trio¹, or Blue Shield EPO² or who don’t elect medical coverage. You can contribute up to $3,200 for the year through pre-tax payroll deductions to help cover eligible medical, dental, and vision expenses.

¹Available in California only

²Available outside California only

How the Health Care FSA works

Choose

Choose your contribution amount when you enroll. You can only change it during the year if your personal situation changes, so estimate carefully.

Contribute

Your annual contribution will be divided into equal payroll deductions, but the entire amount is available to you from the beginning of the plan year.

Spend

Spend your money by using your FSA debit card, or log in to Inspira Financial to request reimbursement for payments you’ve made.

Use it up

Unused money does not carry over at the end of each year — use it or lose it!

Compare Accounts

	HSA	Health Care FSA
Available with …	Blue Shield $aver/HSA plan Blue Shield Super $aver/HSA plan	Kaiser Permanente Deductible HMO¹ Blue Shield HMO¹ Blue Shield HMO Trio¹ Blue Shield EPO² (Also available if you waive medical coverage)
Receive company contribution	Yes	No
Change your contribution amount anytime	Yes	No
Access your entire annual contribution amount as needed	No	Yes
Access only funds that have been deposited	Yes	No
Use account money for	All eligible health care expenses	All eligible health care expenses
“Use it or lose it” at year-end	No	Yes
Money is always yours to keep	Yes	No