HSA. health savings account. offered with MVP partner banks. The perfect companion to MVP high-deductible plans. Part of MVP s New Value plans.

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1 HSA health savings account offered with MVP partner banks The perfect companion to MVP high-deductible plans. Part of MVP s New Value plans.

2 MVP HSA: quick look Employee savings account funded by the employer, the employee or both Funds are used to pay for qualified out-of-pocket health-related expenses Administered by MVP s banking partners, selected for their reputation for excellent service and account management Must be in conjunction with enrollment in a qualified high-deductible health plan Unused funds are retained by the employee Account is owned by the employee and therefore portable Tax advantages for contributing employers and employees To learn more, call your Broker or TALK-MVP ( )

3 get the HSA advantage from MVP Health Care and our banking partners A Health Savings Account (HSA) is a personal, interest-bearing account established for each of your employees funded by you, them or a combination of both. The funds, which are contributed on a pre-tax basis, can be used by your employees to pay for qualified out-of-pocket health-related expenses. The HSA, available through one of our preferred banking partners, must be offered in conjunction with a qualified high-deductible health plan helping your employees cover the cost of annual deductibles, while giving them a new level of control over their health care dollar. It s all part of MVP s New Value plans a suite of lower-cost high-deductible health plans with integrated financial tools. Complete consumer-driven solutions for you and your employees from MVP. Employees can use HSA funds to pay Out-of-pocket costs associated with their MVP high-deductible plan, including fees for hospital and physician office visits, prescription and medical deductibles, and coinsurance charges Costs for health-related items such as eyeglasses/ contact lenses, dental and orthodontic care, and much more see IRS Pub 502 for full list, available online at

4 a great choice for your business Advantages for employers If you are considering an MVP qualified high-deductible health plan (HDHP) to lower your health insurance costs, an HSA is the perfect companion. While the HDHP will increase your employees out-of-pocket expenses, the HSA eases this burden providing them with a convenient solution for managing their personal health care costs. An added convenience is a single enrollment process for you all managed by MVP. In addition, HSA contributions you make are tax-advantaged. Advantages for your employees An HSA gives your employees more control enabling them to decide the best way to utilize their health care funds. Employees may spend the full amount each year, or save unused funds saving and accumulating dollars for future medical expenses. These accounts are owned by your employees so they can continue to maintain the account on their own if they leave the company. An HSA also represents a tax advantage for employees, as their contributions, earnings and withdrawals for qualified medical expenses are not taxable. Easy to access With convenient online access, it s simple for you to manage any contributions and for your employees to manage their accounts. All participating employees will receive a checkbook and an MVP CareFund debit card. All transactions associated with this account can be addressed via MVP s member portal along with your employees claims and benefit information. Simple to get started Talk to your Broker or MVP Sales Representative. We ll work with you to provide a high-deductible health plan to meet your needs, and we ll work with our partner bank representatives, who will quickly get your accounts up and running. These are essentially bank accounts for your employees offering complete security and excellent service. how do I get started? HSA setup considerations Here is a quick overview of the steps you need to take and the decisions you will need to make. Throughout the setup process, your Broker or MVP Sales Representative is there to help. 1. Sign a contract for a qualified high-deductible plan with MVP Your Broker or MVP Sales Representative will assist you in evaluating your plan deductible and funding options. 2. Choose your MVP integrated banking partner Your MVP Sales Representative will assist you through the selection process. MVP pays the one-time account setup charge to our partner banks to activate the accounts for your employees who choose to enroll in our HDHP plans. 3. Determine how the HSA will be funded You? The employee? Or a combination of both? You will indicate this on the activation documents for the partner bank you selected to manage your HSA account. Our partner banks offer several deposit options for you to choose from. Important considerations: All HSA funds, once deposited into the account, belong to your employees even if they leave your organization. The maximum allowable annual contribution is the lesser of either your health plan s annual deductible or the contribution cap set by the IRS visit for more information. HSA contributions are made on a calendar-year basis, independent of health plan enrollment date. The amount of allowed contributions is also based on how many months the employee is enrolled during the calendar year. If you are making contributions to your employees HSAs, consider how you would like to deposit the money. With our partner banks, there are several deposit methods: lump sum transfer and allocation instructions detailed in Excel spreadsheet format, direct deposit, transfers using a secure network even payroll deductions on the Web. Be sure to review the deposit options offered by our partner banks and select the one that is right for you. Our partner banks will send a kit directly to your employees that includes an overview of their account, beneficiary form, signature card and other important HSA information. Once your employees have completed these required documents, the account will be activated and ready for use. Please note: No deposits can be made until HSAs are activated by participating employees, so consider setting a deadline for activation by your employees.

5 To learn more, call your Broker or TALK-MVP ( )

6 Learn more at DiscoverMVP.com Call your Broker today to learn how much you could save without sacrificing peace of mind. Or call an MVP Representative at TALK-MVP ( ). Ask about MVP s New Value plans! Combining a range of lower-cost health plan options for businesses including qualified high-deductible plans with powerful financial tools including HSA...it s the complete solution you need. From MVP Health Care. HDHP HSA 8/11