Clean Harbors Employees, Prepare for Enhanced HSA Benefits in 2025

Healthcare Provider Update: Healthcare Provider for Clean Harbors Clean Harbors partners with various healthcare providers to ensure the well-being of its employees, primarily utilizing Aetna Health for their health insurance plans. This partnership aims to offer comprehensive healthcare benefits, including medical, dental, and vision coverage tailored to meet the needs of their workforce. Potential Healthcare Cost Increases in 2026 As 2026 approaches, Clean Harbors employees should brace for significant changes in healthcare costs. With healthcare premiums projected to rise sharply nationwide-some by over 60%-the burden may fall heavily on employees as employers adjust their benefit structures. Escalating medical costs and the potential expiration of enhanced federal premium subsidies will likely lead to an increase in out-of-pocket expenses, compelling employees to adopt proactive measures in managing their healthcare choices. Staying informed and prepared for these adjustments will be crucial for navigating the financial challenges ahead. Click here to learn more

For Clean Harbors 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, Clean Harbors 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 Clean Harbors 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 Clean Harbors 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 Clean Harbors 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.