Spending Accounts

Clorox offers several different ways to set aside money for medical and care expenses, including two Flexible Spending Accounts (FSAs) and a Health Savings Account (HSA). The accounts you can participate in depend on the medical plan you choose.

What are the benefits of an HSA?

You own the account: The funds in the account are always yours to keep—even if you later change medical plans or leave the company. Unlike a Flexible Spending Account (FSA), there is no “use it or lose it” rule with an HSA.
Control your spending and saving: When you receive care, you decide if you want to pay with your HSA dollars or out-of-pocket.
Watch your money grow: If you decide not to use your HSA dollars to pay for care, you can save them for eligible medical expenses in the future, even into retirement. Once your account reaches $1,000, you’ll earn interest and have the option to invest some or all of your money in a variety of funds through Optum Bank. It’s like a 401(k) for your healthcare!
Triple your tax savings: With an HSA, you save even more in taxes. Your individual contributions, Clorox contributions, withdrawals for eligible medical expenses and income you earn from interest and investments are all tax-free federally. The HSA is also tax-advantaged in most states; consult your tax advisor to determine which tax savings apply in your state. (For example, California does not recognize HSA contributions as pre-tax.)
Change your contribution amount any time: Remember to elect your HSA contributions, although you can change them at any time throughout the year. Whether you choose to start contributing now or wait until later in the year, Clorox’s contribution to your HSA will be available after your first paycheck.