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HSA contributions
In 2024, Stryker will make a contribution to your HSA upon enrollment and activation of your account provided you are an eligible employee. The Stryker contribution amount will vary based on the medical plan you choose and your coverage tier as follows:
2024 HSA contribution from Stryker
 
UHC Premium HSA Medical Plan (High Deductible Plan)
UHC Basic HSA Medical Plan (High Deductible Plan)
Employee
$600
$300
Employee + 1
$1,200
$600
Family
$1,200
$600
The Stryker contribution will be deposited as soon as administratively possible and is typically made after the first payroll following the effective date of your enrollment in a qualifying medical plan.
The following employees are not eligible for the Stryker employer contributions:
  • Direct Temporary Employees
  • Interns
  • Part-time employees scheduled to work less than 20 hours
  • Terminated employees
There are limits on how much you and Stryker, together, can contribute to your account. The limits for 2024 are:
  • $4,150 annually for individual coverage.
  • $8,300 annually if you cover dependents.
  • An additional $1,000 per year as a catch-up contribution, if you are age 55 or older.
All funds placed into your HSA are owned and controlled by you, subject to any reasonable administrative restrictions imposed by the trustee.
Note: Amounts that exceed the contribution maximum are not tax-deductible and will be subject to an excise tax unless withdrawn as an "excess contribution" prior to April 15th of the following year.
Contributions for mid-year enrollees
The amount that you can contribute in a calendar year is dependent on whether or not you will remain eligible for an HSA and enrolled in HSA-compatible plan for the 13 months measured from the December for the year in which the election is made through the end of the following December.
  • You are eligible to contribute the full IRS maximum (set by federal regulations based on the coverage tier you elect) for the current tax year if you are enrolled by December 1 and remain eligible for HSA contributions for the next 13 months. This means you have to remain covered by an HSA-compatible plan for the next 13 months or you will be subject to tax implications and an additional tax of 10%. If you become ineligible during the 13-month period (e.g., enroll in a non HSA-compatible health plan), the pro-rated portion of the contributions that you made for the months that you were not covered by a qualified HSA-compatible plan will become taxable and you may be subject to an additional penalty tax.
  • If you will not be enrolled in an HSA-compatible plan for the 13 months following December 1 of a given year, you will be eligible to contribute to your HSA on a pro-rated basis for the months that you are eligible to contribute within the current tax year. For example, if you are hired on April 15, 2024 and are enrolled in employee-only coverage in the Basic or Premium HSA medical plan, you are eligible to contribute beginning May 1, 2024, which means you are eligible for 8 months if you remain eligible through the remainder of 2024. The maximum you can contribute is calculated by taking the IRS maximum annual contribution for your coverage tier and dividing by 12 ($4,150 for employee-only coverage ÷ 12 = $345.83 per month). Next, multiply the monthly contribution amount by the number of months you are eligible in the tax year ($345.83 × 8 = $2,766.64). Remember that this pro-rated maximum includes both the Stryker contribution and your personal contribution.
  • Eligible individuals enrolling in an HSA-compatible plan between December 2 and December 31 are not eligible to make HSA contributions on a tax-advantaged basis for the current tax year. Employees hired between December 2 and December 31 are not eligible for the company contribution for the plan year in which they are hired.
Eligible expenses include those that occur on or after the date your HSA is established (when it is funded), which occurs after the first of the month following your enrollment in an HSA compatible plan and the first deposit is made into the account. For Stryker, an HSA compatible plan includes the Basic HSA medical plan (high deductible health plan) and the Premium HSA medical plan (high deductible health plan). For example, if you are hired on April 15, 2024 and enroll in one of the high deductible plans, the date of service for the eligible claims must be on or after May 1, 2024—provided that the account has been appropriately opened on May 1, 2024.
If OptumBank is unable to establish the Health Savings Account for you, they will notify you of the additional information that is required to open your account. If the account is not successfully opened after approximately 60 days from the date you originally elected the account, the employer funding will be returned to Stryker and you will no longer be eligible to receive it. In addition, any future payroll deductions will be stopped. If you miss this deadline but still wish to establish an account, you can restart the deductions via http://enroll.stryker.com after you have fully established the account; however Stryker will not deposit any employer funding for the current plan year.
For more information, visit www.irs.gov and see Publication 969 or contact your Benefits Team.