Health Savings Account (HSA)
Pay for Eligible Health Care Expenses Tax-FreeIf you plan to enroll in the CDHP for 2025 and contribute to an HSA, you must spend down remaining dollars in your Health Care FSA (HCFSA) before contributing to or using your HSA. Failure to comply could result in a tax penalty.
How to Use Your HSA
If you enroll in the CDHP medical plan, you will have access to a health savings account (HSA) to help you save for health care expenses. Optum Bank will automatically set up your account and send you a debit card to access your funds.
HSA contributions, earnings, and withdrawals that are used for qualifying expenses are tax-free.
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Make Contributions
Hertz will contribute to your HSA. You can also contribute additional funds up to the annual IRS limits, as outlined below, plus an annual catch-up contribution for those over age 55. You can use the HSA Contribution Calculator to help you decide how much to contribute.
Maximum Contribution Limits
The HSA maximum contribution limits for 2025 are increasing to $4,300 for employee-only and to $8,550 for all other coverage, plus a $1,000 annual catch up contribution for those over age 55. All maximums include Hertz contributions.
Use Your Funds
You can use your funds to pay for eligible medical, dental, and vision costs now or in the future. Either pay with your HSA debit card, or pay for eligible expenses out-of-pocket and reimburse yourself from your HSA savings later.
HSA-Eligible Expenses
Search for qualifying expenses using Optum’s medical expense eligibility tool and/or access a full list of eligible expenses in IRS Publication 969.
Save Your Funds
You can also use your HSA as a savings account. The account is yours, even if you leave the company, and your funds will roll over each year accruing interest tax-free. When your account balance reaches $1,000, you can invest your funds.
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