A Health Savings Account (HSA) is available with the Consumer Directed Health Plans (CDHPs) offered through Anthem and Kaiser. Your HSA can help you save for health care expenses now and in the future.
How it works
- Lam contributes: $50 per pay period if you have individual medical coverage or $100 per pay period if you cover others.
- You can contribute, and you can start, stop, or change your contributions anytime. Call the Benefits Help Desk at 877-291-9494 or log in to the benefits enrollment website and select Make a Change to My Benefits. Choose the Life Event HSA Election/Changes and the Event Date. Then click Continue and follow the prompts.
- HSA On Demand: You have access to the company’s full-year HSA contribution beginning January 1. That means you’ll have money available in your account to cover an unexpected expense early in the year. See the HSA On Demand guide for more details.
- Grow your savings: The money in your HSA is always yours, even if you leave Lam. You can invest the money for the potential to grow your savings even more.
- You pay no federal taxes on your contributions, on withdrawals for qualified medical expenses, or on your interest or investment earnings. (Note: If you live in California or New Jersey, your contributions and earnings will be subject to state tax.)
Questions?
If you don’t find what you need on this page, try the FAQ.
HSA contribution limits
The IRS sets limits on how much you can contribute to your HSA each year, combined with Lam’s contribution.
2024 limits
| Full-year amounts | Individual coverage | Individual + 1 or more dependent |
|---|---|---|
| Lam contribution | $1,300 | $2,600 |
| Your contribution | $2,850 | $5,700 |
| IRS contribution limit | $4,150 | $8,300 |
| IRS contribution limit (employees age 55 or older) | $5,150 | $9,300 |
2025 limits
| Full-year amounts | Individual coverage | Individual + 1 or more dependent |
|---|---|---|
| Lam contribution | $1,300 | $2,600 |
| Your contribution | $3,000 | $5,950 |
| IRS contribution limit | $4,300 | $8,550 |
| IRS contribution limit (employees age 55 or older) | $5,300 | $9,550 |
Lam’s contributions are made each pay period when you are enrolled in an HSA: $50 per pay period if you have individual medical coverage or $100 per pay period if you cover others. If you enroll in the HSA midyear (e.g., if you join Lam or have a life event during the year), your account will be opened on the first day of the next month, and Lam’s contributions will begin with the next available pay period after that.
Likewise, the IRS prorates the limit for your contributions to an HSA for only the months of the year in which you are enrolled in an eligible high-deductible health plan. For example, if you enroll in a CDHP in July, and your HSA is opened August 1, your IRS limit for HSA contributions for the year would be 5/12 of the full-year limit.
Using your HSA
When you enroll in a CDHP through Lam Research, your HSA will be opened for you automatically at Optum Financial. Once your HSA is established, contributions from Lam—and from you, if you choose—will start being deposited. You will receive a welcome packet and a debit card from Optum Financial. You will need your 16-digit debit card number to access your Optum Financial account the first time.
To find your HSA balance at any time, sign in to Optum Financial and scroll to select Health savings account.
Accessing your HSA funds
The best way to access your HSA for eligible expenses is to use your Optum Financial payment card at the time of service or purchase. When you use the card, you will not need to do anything else, except save your receipts with your tax records.
You may also request reimbursement from your HSA by signing in to Optum Financial and selecting HSA from the list of accounts on the left.
To avoid any tax penalties, save all of your receipts, and make sure your reimbursements from your HSA are for qualified health care expenses. Any amount you spend from your HSA on nonqualified expenses will be considered part of your taxable income, and you may also owe a 20% penalty on that amount.
Where to learn more
- Optum Financial HSA resources
- CDHP with HSA
- CDHP With HSA Frequently Asked Questions [PDF]
- HSA On Demand Guide [PDF]
- Health Care FSA
- IRS list of eligible expenses
- Benefits Help Desk: benefits@lamresearch.com or 877-291-9494