Health Savings Account (HSA)

If you enroll in one of our HSA Medical Plans, you may be eligible to open an HSA through UMR. An HSA can be used to pay for a wide range of eligible health care expenses, including Medical, Dental, Vision, and Prescription costs—now and in the future.

Please note, our HSA administrator is changing to HealthEquity for 2026. Review the Open Enrollment page for more information. 

Note: 3508 Sales Representatives are eligible to enroll in an HSA Medical Plan but are not eligible to open an HSA. If you choose the HSA Choice Plus Low Plan, you’ll receive a per‑payroll stipend instead of the Renovo HSA contribution ($19.23/individual coverage, $38.46/family coverage).

Get to Know the HSA

An HSA gives you more control over your health care spending and savings. You decide how much to contribute, how to use the funds, and whether to let your balance grow for future expenses.

HSAs also offer a triple tax advantage: Your contributions aren’t taxed, withdrawals for eligible expenses are tax‑free, and account earnings grow tax‑free.*

• Your account, your money: An HSA is yours to keep, even if you change jobs.
• FREE money: If you choose the HSA Choice Plus Low Plan, Renovo contributes to your HSA.
• Pre‑tax savings: Set aside pre‑tax dollars from your paycheck to help pay for eligible expenses.
• Flexible contributions: Change your contribution amount anytime.
• No use-it-or-lose-it: Unused funds roll over each year.
• Long‑term savings: Save for future qualified medical expenses, including in retirement.

*State taxes may still apply in CA and NJ. For detailed tax implications of an HSA, please contact your professional tax advisor.

HSA Contributions

*2026 IRS Maximums are $4,400 for individual coverage and $8,750 for family coverage.

Eligibility Rules

You must:

• Be enrolled in the HSA Choice Plus Low or High Plan
• Not be covered by another non‑qualified health plan (including a spouse’s Health Care FSA)
• Not be enrolled in Medicare or Tricare
• Not be claimed as a dependent on someone else’s tax return