Our health benefits, programs and resources can help you and your family members lead healthy lives, practice prevention and keep illness at bay.
Employees enrolled in a high-deductible health plan (HDHP) through the Northrop Grumman Health Plan may be able to establish and contribute to a Health Savings Account (HSA) through Fidelity Investments® or another financial institution. 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 eligible medical expenses. Consult IRS Publication 969 for details.
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 for reimbursement of eligible medical, prescription, dental, and vision expenses. Here’s how it works:
See the annual enrollment guide for contribution limits.
Employees with an HSA may also enroll in a limited-purpose Health Care Flexible Spending Account (a limited purpose Health Care FSA covers 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.
Investing involves risk, including risk of loss.
© 2022 FMR LLC. All rights reserved.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917