Health Savings Account

A Health Savings Account (HSA) is a tax-advantaged savings tool that provides triple tax savings:

  • Contributions to your HSA can be made with pre-tax dollars through payroll deductions, which reduces your taxable income. Any after-tax contributions that you make to your HSA are also tax-deductible on your tax filing at the end of the year.
  • Interest and investment earnings on HSA funds grow tax-free.
  • Withdrawals from the HSA are also tax-free when used to pay for qualified healthcare expenses.
  • You can contribute to your HSA through payroll deductions, and Caterpillar will contribute “seed money” to your HSA.

Want to designate or change your beneficiary?

CLICK HERE for the HealthEquity HSA website

HSA vendor:  HealthEquity

Disclaimer: An HSA is an individual custodial account that you establish with HealthEquity (or other financial institution) to be used for reimbursement of qualified medical expenses as set forth in Internal Revenue Code Section 223. An HSA is not an employee welfare benefit plan and is not subject to the Employee Retirement Income Security Act of 1974, as amended (ERISA). Caterpillar does not sponsor or administer your HSA.

Please note: Any funds sent for your account by you, your employer, or others on your behalf will be held and not deposited to your HSA until you have provided the required documentation to HealthEquity. Held funds will be automatically returned after 60 days if your documentation has not been received and verified by HealthEquity.