SavingsPlus HSA Plan

At Sanofi US, we want to empower you to make the best choice for your needs.
The SavingsPlus HSA Plan is a Consumer-Driven Health Plan option. With this plan, you have more control over how you pay for health care. By using the SavingsPlus HSA Plan, you’ll benefit from tax-advantaged savings that you can use now or save for the future.

How the SavingsPlus HSA works

The SavingsPlus HSA is designed to provide you with lower monthly contributions and more control of your health care spending. It works like this:

  • Pay for the health care you use. If you elect the SavingsPlus HSA, you’ll pay less in monthly contributions. But you may pay more at the doctor’s office. This is because the SavingsPlus HSA is a high deductible plan.
  • Get HSA money from Sanofi. The deductible is higher, but Sanofi will provide you with money in your HSA to help cover some of those costs: $750 for Employee Only coverage, or $1,500 if you also cover dependents.
  • Contribute to your HSA, tax-free. You can contribute to your HSA, too, tax-free. In 2022, the employer + employee maximum contributions are $3,650/individual coverage and $7,300/family coverage (plus $1,000 catch-up if age 55 or over).
  • Money rolls over. Unlike with a Healthcare FSA, money in your HSA rolls over from year to year and does not expire.
  • Save and invest for the future. You can choose to use your HSA dollars throughout the year, or rollover your balance for future health care expenses. You can also invest the money in the HSA and never pay taxes on that money as long as it is used for a qualified health expense. And if you don’t need to spend the money on your health care, you can use it to supplement your retirement income.
  • Take it with you. If you change plans, retire, or leave Sanofi, the HSA and the money in it is yours to keep.

Due to IRS requirements, if you are in the SavingsPlus HSA and use the Bridgewater Premise onsite health clinic, you will pay $35 for non-preventive care. Preventive care will continue to be at no cost to you. Traditional PPO participants will continue to pay $0.

Don’t forget about other important benefits that supplement your medical coverage by providing cash payments to cover out-of-pocket expenses in the event that a covered incident occurs:

  • Group Accident Insurance
  • Group Critical Illness Insurance

While they are a good addition to any medical coverage, these benefits are an especially good complement to the SavingsPlus HSA. They provide enhanced financial protection when you need it while allowing you to take advantage of the SavingsPlus HSA’s lower monthly payroll deductions and Sanofi-funded Health Savings Account (HSA).

Prescription drugs under the SavingsPlus HSA

Under the SavingsPlus HSA plan, prescription drugs are subject to the deductible and coinsurance, including Sanofi drugs, for which you pay the full cost until the deductible is met. (Once the deductible is met, you pay $0 for Sanofi drugs.)

The exception is for preventive drugs on the preventive drug list, which you’ll receive at no cost before the deductible is met. See the Prescription Drug section for more details.

Watch this short video to see how the HSA works.

To review the SavingsPlus HSA home mailer, click here. Want all the technical details? Click here.

Important note about the Healthcare FSA and the SavingsPlus HSA option

If you elect the SavingsPlus HSA option for your medical coverage, you will no longer be able to use the Healthcare FSA. You’ll still have a 2.5-month grace period, meaning you can incur new claims against your account through March 15. Funds remaining in your account after the claim submission deadline will be forfeited. However, until your FSA is closed, you will not be able to open an HSA or receive Sanofi contributions to your HSA. However, once you do open the HSA the full company contribution will still be made.

The claims submission deadline for 2020 claims is December 31, 2021. The claims submission deadline for 2021 claims is December 31, 2022. The claims submission deadline for 2022 claims will be June 30, 2023. The claims submission deadline is different from the date you can incur new claims against your account, which is March 15 of each year.