New from COPS – “Seed” money for all COPS members who enroll in the HDHP

An HSA will automatically be opened for members enrolled in the COPS HDHP. Enrolled members will be mailed a welcome packet by HealthEquity before January 1, 2023, with details on how to access their HSA. 

COPS Trust will contribute $750 into the HSA for an individual member or $1,500 for members who enroll with one or more dependents effective January 1, 2023. The amount of the contribution may change in future plan years. 

COPS Trust contribution, also referred to as “seed money,” will be deposited within the month of January.  As long as you are enrolled in the COPS Trust HDHP effective January 1st, expenses incurred between January 1 and January 4 can be paid from the HSA funds deposited on January 5.

Ask your provider to bill you, or you can use your HSA for reimbursement if you pay out of pocket