Health Savings Account (HSA)

What to Know

Depending on the DuPont Medical Plan you choose, you may have access to a Health Savings Account (HSA). The HSA is a personal savings account that lets you set aside pre-tax money to pay for eligible healthcare expenses now or in the future.

How It Works

If you enroll in the Core Medical Plan option or the Premium Saver Medical Plan option, you have access to an HSA through Bank of America.

The HSA allows you and DuPont to set aside money, up to IRS limits, in your HSA to pay for eligible healthcare expenses throughout the year, such as:

  • Copays, coinsurance, and deductibles
  • Standard medical services such as office visits
  • Prescription drugs
  • Eyeglasses, contact lenses, and solutions

For a full list of covered expenses, visit Bank of America’s website.

Your HSA offers a triple-tax advantage, meaning:

  • You don’t pay taxes on the money going into your HSA.
  • You aren’t taxed when you reimburse yourself for your eligible health expenses.
  • You aren’t taxed on the investment gains in your account.

As noted in the bullet above, your HSA can grow tax-free through potential investment earnings. Your HSA balance earns interest, and if your balance reaches $1,000, you’ll be able to invest it in mutual funds that are managed by Bank of America.

The best part? Your HSA has no “use it or lose it rule.” This means that any unused funds in your account roll over from year to year and are yours to keep, even if you change DuPont Medical Plans, leave the company, or retire.


You’re not eligible for the HSA if you:

  • Are enrolled in the Traditional Copay PPO Medical Plan option or Medicare.
  • Are enrolled or covered by a Healthcare Flexible Spending Account (FSA) or Health Reimbursement Account (HRA), including one through your spouse’s or domestic partner’s employer.
  • Can be claimed as a dependent on someone else’s tax return.

If you’re not eligible to use the HSA, you may be eligible to enroll in a Healthcare Flexible Spending Account or Limited Purpose Flexible Spending Account during Annual Enrollment. Learn more about Flexible Spending Accounts (FSAs).

Your and DuPont’s HSA Contributions

For 2024, here are the annual contributions you’ll get from DuPont, as well as the maximum contributions you can make, up to IRS limits:

Individual Coverage
Family Coverage
DuPont’s Contribution
Your Maximum Contribution*
Your Maximum Contribution if Age 55 or Older
IRS Contribution Limit*
IRS Contribution Limit for Employees Age 55 or Older

*IRS guidelines require that the total contribution by employee and DuPont cannot exceed $4,150 for individual coverage and $8,300 for family coverage. The maximum contribution for new hires will vary based on the prorated contribution made by DuPont.

Important Things to Note About Your HSA Contributions

  • When electing your medical coverage, you must attest to being eligible for the HSA. If you don’t attest to being HSA-eligible, you’ll lose out on the HSA contribution from DuPont.
  • DuPont’s HSA contributions (and yours!) will begin the first month after you make your medical election and will be deposited into your HSA each pay period. If your HSA election is made outside of Annual Enrollment, your contributions will start with the first full pay cycle in the month following your HSA election date.
  • Your total HSA contribution elections are spread out evenly over the remaining payroll cycles in the plan year. You can’t withdraw an entire year’s contribution in a single month or over the first few months of the year.
  • You can start, stop, or change the amount of your annual contribution at any time through DuPont Connection.

How to Get Started

After you enroll in either the Core or the Premium Saver Medical Plan option, Bank of America will automatically open your HSA for you. You’ll receive a welcome letter and a debit card in the mail from Bank of America, and they will contact you directly if they require any additional information to open your account.

Accessing Your Funds

There are three ways to access and use your HSA funds when you need them:

  1. Use the Bank of America Visa debit card. You can use your card at doctor’s offices or pharmacies where Visa is accepted. Select Credit or Debit at the register for automatic deduction.
  2. Pay online. When you receive an invoice from your healthcare provider, visit Bank of America’s website to have the bill paid directly from your account. Once your claim is submitted and approved, the provider will receive a check within 7 to 10 business days. You can also elect to pay providers through an electronic funds transfer.
  3. Request a reimbursement. If you pay out of pocket for a healthcare service, you can request reimbursement through Bank of America’s website. You can have your reimbursement made electronically directly to your personal checking or savings account, or you can request a check by mail.

What happens if I don’t have enough funds in my HSA?

If you don’t have enough funds in your HSA to pay for eligible healthcare expenses, pay for the product or service out of pocket. Once additional funds have accumulated in your account, you can request reimbursement from your HSA by entering an online claim on Bank of America’s website.


HSA User’s Guide
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