A Health Savings Account (HSA) helps you save pre - tax dollars through payroll that can be used for copays, deductibles and other everyday health - related purchases. Here’s what to know: • It is a bank account you open and own • The money in your account rolls over • The money is never taxed on qualified expenses Health Savings Account HSA Video HSA Eligible Expenses Dependent(s) DePauw Base Contribution Your Max Contribution 2027 IRS Max Limit Employee $500 $4,000 $4,500 Family $1,000 $8,000 $9,000 Tax - Free Savings Account