The biggest difference between these accounts is how and when you can use them.
Available to all associates except Hawaii residents. You can open an HSA and change your contribution amount any time during the year.
If you’re enrolled in an Edward Jones medical plan, you can use a Health Savings Account to pay for qualified medical, prescription drug, dental and vision expenses now or save it for the future.
The 2024 contribution limits, including those from Edward Jones, are:
If you are age 55 or older at any point in the plan year, you can contribute an additional $1,000 in catch-up contributions.
Review this checklist for tips for using your HSA.
Edward Jones will deposit half its annual contribution to your account in February and half in August, for a total of:
To be eligible* for the firm contribution, you must meet all the following requirements on January 1 for the February contribution and June 30 for the August contribution:
*Principals and financial advisors1 are not eligible for the firm contribution.
At the time you submit a claim or use your card, you can only access the contributions you plan to make via payroll deductions in advance, and any firm contributions that are already in your account. For example, if you have a claim in January, prior to the firm’s February contribution, you will be able to receive an advance on any funding you plan to contribute through payroll deductions, but you cannot get an advance on any firm contributions to pay a claim.
Starting in 2025, Edward Jones will no longer provide any advancement of HSA funds — even those you plan to contribute through payroll deduction. You will only have access to funds that are in the account at the time you submit a claim or use your card.
If you use your account before age 65 for expenses that aren’t qualified, you’ll pay your current tax rate plus a 20% penalty at tax time. After age 65, the penalty no longer applies.
The U.S. Department of the Treasury sets the rules for HSAs. They’re applicable to almost anyone who enrolls in an Edward Jones Medical Plan. You’re not allowed to contribute if you:
Note: Hawaii state insurance regulations do not permit Hawaii residents to participate in HSAs.
If you don’t contribute to a Health Savings Account (HSA), you can use a Health Care FSA to pay for qualified medical, prescription drug, dental, and vision expenses. You don’t have to be enrolled in an Edward Jones medical plan.
You’ll receive a special Health Care Card that you can use like a debit card to pay for expenses directly from your account, or you can submit claims for reimbursement later.
The 2024 contribution limit is $3,050:
This account can only be used for qualified vision and dental expenses. You’ll receive a special Health Care Card that you can use like a debit card to pay for expenses directly from your account, or you can submit claims for reimbursement later.
The 2024 contribution limit is $3,050:
This account can be used for eligible care for your child or adult dependent so you and your spouse can work or attend school full-time. When deciding how much to put into your account, think about regular day care, after-school care, and summer camps (does not include over-night camps) for children under age 13.
The 2024 contribution limit is $5,000:
Review claim instructions and complete the Dependent Care FSA Claim Form for reimbursement.
*Tax considerations for service partners, joint venture service partners, and principals: Under IRS regulations, service partners, joint venture service partners, and principals may not participate in the flexible spending accounts. IRS rules prohibit you from claiming reimbursement of an expense from this account and claiming the same expense as a deduction on your tax return.
1 Financial advisor reference incorporates financial advisor, service partner, and joint venture service partner roles.
Choose from two medical plans to fit your needs.
