myHealth

If you enroll in a high-deductible health plan (HDHP) through the Northrop Grumman Health Plan (for example, Plan 2 - Medium Premium/Medium Deductible Plan, Plan 3 - Low Premium/Low Deductible or the Kaiser Mid-Atlantic HDHP) and satisfy other IRS requirements, you may be eligible to establish a Health Savings Account (HSA).

The HSA is a tax-favored account that allows you to set aside money on a pre-tax basis to be used to pay for or for reimbursement of medical expenses. Here’s how it works:

• The account belongs to you and is portable should you leave the company
• Unused funds roll over from year to year
• Interest and investment returns grow tax-free as well (subject to minimum account balance)
• If you establish an HSA through Fidelity, your contributions can be deducted directly from your paycheck before taxes
• You may contribute any amount up to the IRS maximum and are responsible for making sure your contributions don’t exceed the IRS limit

See the annual enrollment guide for contribution limits.

Employees with an HSA may also enroll in a limited-purpose Health Care Flexible Spending Account (HCFSA) to cover qualified dental and vision expenses. For more information, go to the limited-purpose HCFSA page.

Visit NetBenefits^® for more information.

Note: Federal law prohibits employees from establishing and contributing to an HSA and participating in a general-purpose HCFSA at the same time, including if your spouse has a general-purpose HCFSA.

Disclaimer: The HSA is not part of the Northrop Grumman Health Plan.