Healthcare Provider Update: Offers medical, dental, vision, and mental health benefits through Spring Health, plus HSA contributions and telemedicine via Teladoc 8. With ACA premiums projected to rise by up to 75% for some, TEGNAs flexible coverage and wellness support provide a strong buffer against marketplace volatility. Click here to learn more
For TEGNA 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, TEGNA 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 TEGNA 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 TEGNA 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 TEGNA retirement planning strategy.
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
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 TEGNA's 401(k) plan?
TEGNA's 401(k) plan is a retirement savings plan that allows employees to save for their future by contributing a portion of their salary on a pre-tax or after-tax (Roth) basis.
How can I enroll in TEGNA's 401(k) plan?
You can enroll in TEGNA's 401(k) plan by logging into the employee benefits portal and following the enrollment instructions provided.
What is the employer match for TEGNA's 401(k) plan?
TEGNA offers a competitive employer match for contributions made to the 401(k) plan, which helps employees boost their retirement savings.
When can I start contributing to TEGNA's 401(k) plan?
Employees at TEGNA can start contributing to the 401(k) plan after completing their eligibility requirements, typically within the first few months of employment.
What types of investment options are available in TEGNA's 401(k) plan?
TEGNA's 401(k) plan includes a variety of investment options, such as mutual funds, target-date funds, and company stock, allowing employees to diversify their portfolios.
Can I change my contribution amount to TEGNA's 401(k) plan?
Yes, employees can change their contribution amounts to TEGNA's 401(k) plan at any time through the employee benefits portal.
Does TEGNA offer a Roth 401(k) option?
Yes, TEGNA offers a Roth 401(k) option, allowing employees to make after-tax contributions and potentially enjoy tax-free withdrawals in retirement.
What happens to my TEGNA 401(k) if I leave the company?
If you leave TEGNA, you have several options for your 401(k), including cashing out, rolling it over to another retirement account, or leaving it with TEGNA.
Is there a vesting schedule for TEGNA's 401(k) employer match?
Yes, TEGNA has a vesting schedule for the employer match, meaning that employees must work for the company for a certain period before they fully own the matched funds.
How can I access my TEGNA 401(k) account?
You can access your TEGNA 401(k) account by logging into the designated retirement plan website or mobile app provided by the plan administrator.
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