Health Savings Account

Use triple tax savings to pay for medical, dental and vision expenses.

A Health Savings Account (HSA) is a tax-favored personal savings account that works with the Advantage PPO with HSA medical plan. Use your HSA funds to pay for qualified eligible medical expenses such as deductibles, coinsurance, copays, dental and vision care. Through our partnership with Fidelity Investments, you have access to the NetBenefits AccessCard® to provide you a simple way to pay for qualified expenses.

HSA Major Benefits

  • CF Industries contributes to your account.
  • Your account always belongs to you; you own it if you leave the company or retire.
  • Your balance rolls over from year to year.
  • Your contributions lower your taxable income.
  • Builds a healthcare nest egg for emergencies or in retirement.

Triple Tax Savings

  • Contributions are taken out of your paycheck before taxes.
  • Funds in your account grow tax free with interest or investment earnings.
  • Funds are withdrawn tax-free when used for eligible expenses.

Reminder: if you use your HSA to pay for ineligible expenses before age 65, you will be taxed on those amounts and subject to an additional 20% penalty.

Three Contributions Added to Your HSA:

  1. CF contributions: $250 to your HSA for employee-only coverage and $500 for family coverage; CF contributions are prorated based on your hire date if you are a new hire*
  2. Your pre-tax contributions: from each paycheck can be adjusted any time throughout the year
  3. CF matches: Dollar for dollar, up to $500 for single coverage or $1,000 for family coverage

*As much as one-half of your deductible could be covered using CF’s contributions.

HSA Annual Contributions and IRS Limits

Your total contributions plus CF’s contributions cannot exceed the 2024 IRS limits below:

 
Coverage Level IRS Total Limits* CF Automatic Contribution CF Matching Contribution** Your Contribution
Individual Coverage $4,150 $250 $500 $3,100
Family Coverage $8,300 $500 $1,000 $6,250
Age 55 or Older Contribute an additional $1,000 on top of these amounts.

*Married couples with HSA-eligible family coverage share one family HSA contribution limit. If both spouses have eligible self-only coverage, each spouse may contribute up to $3,850 in separate accounts.

**Assumes you contribute at least $500 for employee only coverage and $1,000 for family coverage.

Contact Information

Call 800-835-5095

Visit www.netbenefits.com

Additional Resources

HSA Eligibility

Because the HSA is a tax-advantaged account, the government requires you meet certain conditions. To participate, you:

  • Must be enrolled in the Advantage PPO with an HSA (a high deductible health plan)
  • Cannot be enrolled in Medicare
  • Cannot be a dependent on someone else’s tax return
  • Cannot be covered by another health insurance plan that is not a High Deductible Health Plan
  • Cannot participate in the Health Care Flexible Spending Account but can participate in the Limited Purpose Health Care Spending Account

Watch this video to learn more about the HSA