An HSA is used to pay for qualified medical expenses now and in the future, because the balance rolls over from year to year.  If you’re enrolled in an eligible health plan through Plastipak, you may fund your HSA through pretax payroll deductions. Plastipak may also make contributions on your behalf. Once your HSA balance reaches $1,000, it can be invested in select mutual funds, and the interest is credited at the end of every month.

In 2026, the IRS allows you to contribute up to $4,400 for single coverage and $8,750 if you cover anyone else in your family. If you will be 55 or older during the plan year, you can contribute an additional catch-up contribution of $1,000. These limits include your contributions and any contributions made by Plastipak.

Plastipak will automatically enroll you in the HSA if you selected an eligible health care plan during open enrollment. You can only set contribution amounts each year during Open Enrollment, unless you have a qualified status change, such as welcoming a baby into your household.

How the Health Savings Account (HSA) Works

You and Plastipak can contribute to your HSA.

When you enroll in the HSA, you decide how much you would like to contribute from your paycheck on a pretax basis. This lowers your taxable income and allows you to save for current and future medical expenses. You are also able to make lump-sum contributions directly to your HSA.

Plastipak will contribute to your HSA if you’re enrolled in an eligible health care plan.

Manage your contributions to your account carefully. If you exceed the IRS maximum (which includes all contributions from you and Plastipak), you may be subject to tax penalties.

You can use your HSA to pay for current health care expenses.

You may use the HSA to pay for eligible out-of-pocket health costs, such as paying your deductible and coinsurance. Prescription drug costs and some over-the-counter medications are also eligible.

If you use HSA funds for non-qualified expenses, the amount spent will be fully taxable, and you may be subject to a 20 percent penalty.

You will receive an HSA debit card from Inspira that makes payment easy. If you prefer, you can pay providers using other funds and reimburse yourself for eligible health care expenses.

Once the balance in your HSA reaches $1,000, you can invest any amount over this limit so your savings can grow.

Inspira offers select mutual funds for investment. It’s easy to invest and manage those investments on their website. In addition, if you have an HSA from a previous employer, you can roll over the balance to your Inspira account.

You can use your HSA to pay for future health care expenses, even in retirement.

You may decide not to use the fund in your HSA now so it can grow and be there for you later, when you might need it for something special, for example, to pay for LASIK eye surgery or expensive medical care needs in retirement.

The balance in your HSA rolls over from year to year and always belongs to you. In other words, it goes with you when you leave Plastipak.

For more information about anything related to your HSA, visit Inspira’s website.

Enroll in the dependent care flexible spending account (DCFSA) to help pay for eligible dependent care expenses. These include before-school and after-school programs, day care, day camps, nanny care, preschool tuition, and eldercare expenses. Dependents include children under age 13 or older children and family members who need help caring for themselves.

The DCFSA is a use-it-or-lose-it account. If you do not use your entire account balance by Dec. 31, any unused funds will be forfeited.

The IRS allows you to contribute up to $7,500 ($3,750 per person if married and filing separately) to the DCFSA each year. 

You can only enroll in the DCFSA each year during Annual Open Enrollment, unless you have a qualified status change, such as welcoming a baby into your household.

Learn more on the Inspira website.