Health Savings Account

Key Features

• Jump-start your savings with free money. Office Depot contributes to your HSA, which you can use to pay for eligible health care expenses.
• Benefit from a triple tax advantage — pre-tax contributions, tax-free earnings, and tax-free withdrawals for qualified health care expenses.
• You own the account and all funds, even if you change medical plans or leave Office Depot.
• Choose how to use your HSA — pay for current eligible health care expenses or save and let your balance grow.
• Invest your HSA once you reach a $1,000 balance, with multiple investment options available.
• Build long-term savings for future medical needs, including expenses in retirement. Unused funds roll over year to year.

How it Works

Coworker Contributions

Choose an amount to set aside for the year, up to the IRS limits below. The money comes from your paycheck, pre-tax, in increments each paycheck. You can start, stop, or adjust your contribution amount at any time during the year.

Company Contributions

Office Depot contributes money into your HSA quarterly to help you pay for eligible medical expenses. The amount depends on your coverage level and which HSA medical plan you're enrolled in. You must be actively employed by the company on the date each payment is made to receive it.

HSA Contribution Limits

The IRS sets limits on how much you can add to your HSA each year. Office Depot's contribution and your contribution cannot exceed the following values:

IMPORTANT: Make sure you track your HSA contributions throughout the year — exceeding the IRS annual limit can result in tax penalties. You are responsible for staying within the allowed maximum.

Eligible Expenses

Medical, prescription drug, dental, and vision expenses not paid by your insurance — see the full list of IRS-approved expenses here or visit the online HSA Store, where everything is HSA-eligible. Save all itemized receipts!

Funds

• Availability of Funds — Funds are available as they're withheld from your paycheck and deposited into your account*‍
• Accessing Funds — Use an Inspira Financial debit card for eligible expenses, or file claims directly for reimbursement at inspirafinancial.com

* The US Patriot Act requires you to pass the Customer Identification Process (CIP) before your HSA account can be opened. If you do not respond, your HSA will be closed.

You Cannot Participate if:

• You are enrolled in Medicare or receiving Social Security.
• You are eligible to be claimed as a dependent on someone else’s tax return.
• Your spouse/domestic partner contributes to a Health Care FSA.
• You are enrolled in Tricare for non-service related services.
• You are enrolled in a non-HSA eligible plan as a dependent.

How to Change My Contribution

• You can change the amount you contribute to your HSA at any time during the year.
• Log in to the Office Depot Benefits Hub, and click Change my HSA election.
• The change is effective the first of the month following the date you make the change.
• Contribution changes must be submitted before November 15 to see your contribution change reflected in the current plan year.

‍