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Autodesk Employees, Prepare for Enhanced HSA Benefits in 2025

For Autodesk employees, maximizing contributions to your HSA in 2025 may be a smart way to control costs around healthcare and also grow your long-term savings for retirement, said.

With the increase in HSA contribution limits coming soon, Autodesk employees approaching retirement should take advantage of this opportunity to grow their healthcare savings now so they can take a tax-efficient approach to future medical costs, said Sullivan.

In this article, we will discuss:

1. Limits on 2025 IRS health savings account (HSA) contributions.

2. How HSAs give you a triple tax advantage and help you control costs for healthcare.

3. HSAs & retirement planning & Medicare premiums.

The IRS has announced inflation-adjusted increases to the health savings account (HSA) contribution limits for 2025. The contribution cap for those with self-only health coverage will increase from USD 4,150 in 2024 to USD 4,300 in 2025, and for families, the maximum will increase from USD 8,300 to USD 8,550.

HSAs provide a triple tax benefit - contributions are deductible, account assets grow tax-free, and withdrawals for approved medical expenses are tax-free. Such features help HSAs manage healthcare costs.

Your high-deductible health plan must offer an HSA. For the year 2025, the IRS says the plans must carry a USD 1,650 individual deductible and USD 3,300 family deductible.Even with all these benefits, a 2023 survey by the Plan Sponsor Council of America found only 19% of HSA account holders invest—most keep their savings in cash—potentially missing big growth opportunities.

The IRS is also updating the catch-up contribution limit for Autodesk employees over age 55 this year—keeping the USD 1,000 catch-up contribution for now.Understand HSAs and how they could benefit your financial strategy—especially with the rise of healthcare costs and retirement planning. Prompt financial decisions such as switching to a Roth IRA or drafting a will are life planning steps as well.

And for Autodesk employees approaching retirement age: HSA money can help pay for Medicare premiums when you turn 65. That includes Medicare Advantage plans, as well as Parts B and D premiums, although Medigap premiums are not eligible for HSA expenditure. While not all medical expenses are covered by Medicare, funding these costs through HSAs could optimize your healthcare spending in retirement. A 2022 study by Fidelity Investments estimated medical costs for a retired couple would be around USD 315,000 after taxes.

Consider your health savings account (HSA) an essential tool in your financial toolkit. Like getting a new phone, increasing HSA contribution limits for 2025 gives you more options to manage and invest in your healthcare. You can think of contributing to your HSA as downloading an app that gives you triple tax benefits—deductions on contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. This keeps your health coverage as current and efficient as new technology—making your HSA a critical component of your Autodesk retirement planning strategy.

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Sources:

1. Fidelity Investments. 'HSA Contribution Limits 2024 and 2025.' Fidelity.com , 23 Jan. 2025, https://www.fidelity.com/learning-center/smart-money/hsa-contribution-limits . Accessed 5 Mar. 2025.

2. Plan Sponsor Council of America (PSCA). 'Helping Employees Enroll in HSAs.' PSCA.org , 9 Nov. 2023, https://www.psca.org/news/psca-news/2023/11/PR_2023_HSAreprot . Accessed 5 Mar. 2025.

3. Internal Revenue Service (IRS). 'Part III Administrative, Procedural, and Miscellaneous.' IRS.gov , May 2024, https://www.irs.gov/pub/irs-drop/rp-24-25.pdf . Accessed 5 Mar. 2025.

4. Woodruff Sawyer. 'IRS Releases 2025 HSA Contribution Limits and HDHP Deductible and Out-of-Pocket Limits.' Woodruffsawyer.com , 13 May 2024, https://woodruffsawyer.com/insights/2025-hsa-limits-released . Accessed 5 Mar. 2025.

5. Plan Sponsor Council of America (PSCA). 'HSAs: A Growing Retirement Savings Strategy.' 401k Specialist , Nov. 2023, https://401kspecialistmag.com/higher-numbers-of-hsas-positioned-as-retirement-savings-strategy . Accessed 5 Mar. 2025.

What is Autodesk's 401(k) plan?

Autodesk's 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out, helping them to build a nest egg for retirement.

How can Autodesk employees enroll in the 401(k) plan?

Autodesk employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

Does Autodesk offer a company match for its 401(k) contributions?

Yes, Autodesk offers a company match for employee contributions to the 401(k) plan, which helps employees boost their retirement savings.

What is the maximum contribution limit for Autodesk's 401(k) plan?

The maximum contribution limit for Autodesk's 401(k) plan aligns with IRS guidelines, which may change annually. Employees should check the latest limits on the IRS website or consult HR.

Can Autodesk employees change their contribution percentage at any time?

Yes, Autodesk employees can change their contribution percentage at any time, typically through the HR portal or by contacting HR.

What investment options are available in Autodesk's 401(k) plan?

Autodesk's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.

When can Autodesk employees start withdrawing from their 401(k) plan?

Autodesk employees can start withdrawing from their 401(k) plan at age 59½, but there are specific rules and potential penalties for early withdrawals.

Does Autodesk provide financial education resources for employees regarding their 401(k)?

Yes, Autodesk provides financial education resources and workshops to help employees understand their 401(k) options and make informed decisions about their retirement savings.

What happens to Autodesk employees' 401(k) accounts if they leave the company?

If Autodesk employees leave the company, they have several options for their 401(k) accounts, including rolling over the funds to a new employer's plan or to an individual retirement account (IRA).

Can Autodesk employees take loans against their 401(k) savings?

Yes, Autodesk allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

This news is significant due to the ongoing economic volatility, which has prompted companies to streamline operations and cut costs. The shift to a subscription model reflects broader trends in the tech industry toward recurring revenue streams, essential for investors to monitor. Additionally, understanding the impact on employment and the company's strategic direction is crucial for stakeholders navigating the current tax and political environment (TheLayoff.com) (3DPrint).

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For more information you can reach the plan administrator for Autodesk at 111 McInnis Pkwy San Rafael, CA 94903; or by calling them at +1 415-507-5000.