The medical High-Deductible Health Plan (HDHP) gives you more control over your healthcare and spending decisions.

If you enroll in this plan, you pay less per paycheck for your medical coverage. You may also contribute money to a health savings account (HSA) and use the funds to pay out-of-pocket expenses with pre-tax dollars.

Employer Contribution to Your HSA

Inovalon will make an annual contribution to your health savings account when you enroll in the medical HDHP, even if you don’t contribute. Use these funds for any out-of-pocket medical expenses, including prescription, dental, and vision.

The amount is based on your annual salary and level of medical plan coverage. The full amount of the annual employer contribution will be deposited in January of each year for associates who enroll in the medical HDHP during Open Enrollment.

2024 IRS HSA Maximum Contributions

The IRS does limit the amount that you may contribute to an HSA each year. Contribution limits are based on your medical plan tier and your age in 2024:

  • Employee only coverage: $4,150
  • Employee + dependent(s): $8,300
  • Associates age 55 or older during 2024 may make an additional catch-up contribution of up to $1,000.

Rollovers

For a direct transfer from another HSA to the Allegiance HSA, complete the HSA Transfer to Allegiance Form.

The HSA offers many great advantages to help you budget for and save on your healthcare costs:

  • You receive an HSA debit card from Allegiance to access your funds when you need to pay for healthcare expenses.
  • You own it. The money remains in the account for you to spend on eligible expenses no matter where you work or how long it stays in the account, even after you retire.
  • You choose how to use it. You choose how much to contribute, and you may change the amount at any time throughout the year to fit your needs. Any unused funds roll over from one year to the next.
  • You save three ways. Your money goes in tax-free, builds earnings tax-free, and comes out tax-free when used on eligible expenses.
  • You invest in your future. Balances over $2,000 may be invested in mutual funds.

HSA Eligibility

There are some circumstances that may impact your eligibility for an HSA:

  • You cannot have both an HSA and a regular Health Care Flexible Spending Account (FSA). You can have an HSA and Health Care FSA if your FSA covers eligible dental and vision expenses only (called a Limited Purpose FSA).
  • If you have an HSA, your spouse cannot be enrolled in a Health Care FSA or HRA with his or her employer.
  • You cannot be enrolled in Medicare or Medicaid.
  • If you have other medical coverage through Tricare/Tricare for Life or have received VA benefits within the past 3 months and do not have a disability rating, you cannot have an HSA.
  • If you have coverage under your spouse’s medical plan, you cannot have an HSA.
  • You cannot be claimed as a dependent on someone else’s tax return.

Allegiance HSA Resources

Want a simple, easy way to check your health care account balances and submit receipts from anywhere? The Allegiance Advantage Mobile App lets you securely access your health benefit accounts with a touch of a finger. Designed so you can quickly find what you need most, the Allegiance Mobile App provides easy, on-the-go access to all your health accounts.

Wondering whether you can pay for an elective procedure or a mounting bill? Do a quick account check to see your current balance. No need to wait for an answer – it’s right at your fingertips.

Record a health expense and capture the receipt the moment the transaction happens. Easily add payees and pay bills from any account. And, if you pay out-of-pocket, file a claim with a receipt or request a distribution from your HSA — right from your phone.

How can you easily determine which products can be paid for using your account funds? With the Allegiance Advantage Mobile App, you can simply scan a product bar code to help determine eligibility as a qualified medical expense. That’s peace of mind with a touch of a button.

Keep track of your HSA investment performance wherever you are. In addition to balance and activity details, a graphical snapshot shows the rate of return and performance over time. Analyze your asset mix and allocations with easy-to-read graphs to make informed decisions about your healthcare.

Start managing your account in seconds – download the Allegiance Advantage mobile app from the Apple App Store or Google Play today!

With the Allegiance Advantage Mobile App, you can get to the health care account information you need—fast.

  • Enjoy real-time access including an intuitive app design and navigation
  • Log in to your account with ease using your fingerprint
  • Quickly check available balances and account details
  • View charts summarizing account information
  • View in-app messages and text alerts that provide instant notifications about your account
  • Link to an external web page to obtain helpful information such as a list of eligible expenses
  • Retrieve a lost username or password
  • Use your device of choice – including Apple® and Android™-powered smartphones

Allegiance’s easy-to-use app helps you quickly find what you need to make a payment, capture a receipt or take any number of actions.

  • Make an HSA distribution or contribution and view HSA investment details
  • Use the Eligible Expense Scanner to scan items to determine if they’re qualified medical expenses before you get to the checkout lane
  • Access your account funds to pay yourself or someone else such as doctor
  • Add and store information on new payees Enter and view expense information and receipts
  • Enter and view expense information and receipts

Ready to enroll or make benefits changes?

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Contact the Inovalon Benefits Center for questions and enrollment help (M-F 8:00 a.m. – 5:30 p.m. ET)
1-888-896-8031
inovalon@assuredpartners.com