1 Premium-Only Plan Flexible Savings Account Health Reimbursement Arrangement Health Savings Account Enrollment and Participation Guide Rev 03/2011
2 WHO WE ARE AND WHAT WE DO Thank you for considering the Small Business Association of Michigan (SBAM) for your Section 125 Plan, Flexible Spending Account, Health Savings Account and / or Health Reimbursement Arrangement administration. The Small Business Association of Michigan understands the important role that employee benefits, especially health insurance, play in our member s ability to recruit and retain top quality employees. We also understand that all employers in Michigan and nationwide are feeling the effects of the sharp increases health insurance premiums. We know what it is like to have to make payroll, maintain a positive cash flow and build a business. We understand that rising costs erode profits and limit your flexibility as an employer. Why do we understand? Because these factors have the same impact on our business. That is why we make it our business to focus the buying power, political power and shared resources of thousands of small businesses to help you achieve more than you could on your own. Produce more. Sell more. Earn more. And pay less. You can do this through our potent resource of products, services and knowledge designed to save you time, save you money and help you succeed. Count on SBAM to give you what you need to tackle human resources issues, legal questions, operational challenges, government relations issues and more.
3 KUSHNER & COMPANY For more than 25 years, Kushner & Company have made the design, implementation, communication and administration of successful benefit plans easy for their clients. In the ever-changing world of employee benefits, Kushner & Company is an acknowledged leader in the industry. Over one thousand organizations, three United States Presidents and numerous Congressional Committees have sought their expertise. By receiving no compensation from insurance companies, the brokers or those who sell products, they offer you totally objective, unbiased design, compliance and administration. Kushner & Company s primary concern is to provide exceptional services that simplify your plan responsibilities, including: Customized Plan Design Debit Card Options Web-Based Information Access Direct Deposit Toll Free Customer Service Compliance Testing & Reporting Enrollment & Education Communications Personalized Reports & Statements Regulatory Updates Online Claim Entry Full Reporting Package Personalized Employee Statements Secure Web-Based Information Access via Account Balance Plan Claim Data Payment Data User ID and PIN Changes Deposit Data Necessary Forms Online Claim Entry Toll-Free Customer Service (800) KUSHNER / (800) a.m. until 8 p.m. User ID and PIN Changes Questions & Answers
4 Plan Options and Prices Premium-Only / Section 125 Plan Administration A Premium-Only Plan (POP) allows employees to pay for a portion of health insurance premiums with pre-tax dollars. Eligible premiums include health, dental, vision and up to $50,000 of group term life insurance. If your company is increasing the amount employees pay for insurance plans, or perhaps introducing premium-sharing for the first time, it makes financial sense to deduct these contributions on a pre-tax basis. Your employees benefit because their premium contributions are deducted pre-tax, decreasing taxable income and increasing takehome pay. Your company benefits because FICA tax liability is lowered. Self-employed individuals or sole proprietors cannot participate in a Section 125 Premium Conversion Plan. However, the sole proprietorship may have a Premium Conversion Plan for its employees including spouse/employees (provided they are a bona fide employee and not invested in the business). 2% or greater shareholders of Subchapter S corporations cannot participate in a Section 125 Premium Conversion Plan. Unlike sole proprietorships, however, spouses, children, grandchildren and parents of the 2% or greater shareholder cannot participate in the Premium Conversion Plan, even if they are a bona fide employee of the business. Partners in a partnership cannot participate in a Section 125 Premium Conversion Plan. However, the partnership may provide a Premium Conversion plan for its employees including spouse/employees (provided they are a bona fide employee, and not a partner). Non-employee (outside) directors, limited partners, and members in LLCs are generally treated as self-employed individuals. As such, these individuals generally cannot participate in the Section 125 Premium Conversion Plan. You can expect the first year of your plan to require more involvement on your part than any other year. Basically in year one, together we will build a secure foundation, which will allow your Premium Conversion Plan to operate much more easily in the subsequent years.
5 Plan Document and Summary Plan Description The Plan Document will need to be signed by a representative of your organization as well as be approved by your Board of Directors (if applicable). The Summary Plan Description will need to be copied and distributed to all benefit eligible employees. Kushner & Company constantly monitors the legislative and regulatory scene to determine what amendments to the plan may become required by law. When this occurs, they will notify you of what must be incorporated into your Plan Document and Summary Plan Description to keep them in compliance. Employee Enrollment Prior to the beginning of each Plan Year, an open enrollment period must be held. At that time, each eligible employee must complete an Enrollment Form, detailing each of the Premium Conversion Plan options. An Enrollment Form should be completed even if an employee elects not to participate in the Plan. You should keep each original Enrollment Form on file for seven years. Non-Discrimination and Concentration Testing The IRS requires that certain Non-Discrimination Tests be performed on your Premium Conversion Plan each Plan Year. In addition to the need to maintain non-discriminatory eligibility policies, the IRS requires passage of the Section 125 Concentration Test. The Section 125 Concentration Test is performed to ensure that no more than 25% of the nontaxable or pre-tax benefits under the Plan are provided to key employees. A key employee is currently defined as an officer of the organization with annual compensation of greater than $130,000; or a more-than-5% owner of the organization; or a more-than-1% owner with annual compensation of greater than $150,000. This test is required to be performed at the end of the Plan Year, however, we also recommend performing it periodically throughout the year in case that adjustments may need to be made to any of the key employee elections.
6 Enrollment Newsletter As part of your Plan s initial implementation, you are provided with an enrollment newsletter for your employees. This will help your employees understand the tax savings of the Premium Conversion Plan and what their participation in it involves. in Michigan. Payroll Guide Your Premium Conversion Plan will provide tax savings for both you and your employees. The employee salary reduction contributions to the Plan are not subject to FICA, Medicare, federal, or state taxes (if outside of Michigan, consult your project manager). However, you will need to contact your tax advisor to determine if state or local income taxes apply. In addition, the employer does not pay FICA, Medicare or federal unemployment taxes [FUTA] on employee contributions (nor state unemployment taxes [SUTA] in some states, although you do pay SUTA. IRS Form 550 The IRS has suspended the requirement of Premium Conversion plans to file an IRS Form 5500 or any of the associated Schedules. However, if your health and welfare plan has greater than 100 participants you are still required by ERISA to file a Form 5500 and all applicable Schedules. Customer Service When you chose SBAM and Kushner & Company to provide the tools necessary to your Plan, you chose to receive extensive expertise whenever you need it. Your Project Team will always be available to answer any questions you may have regarding the administration of your plan(s). Debit Card With this optional debit card, an employee can access his or her Health Care FSA, HSA or HRA directly to pay for eligible expenses. Plus, this option helps to increase both participation and contributions, reducing the amount of taxes your company and your employees pay. Claims Processing Kushner & Company processes claims weekly or daily (your choice) and employee reimbursements can be given in the form of a check or direct deposit into their bank account.
7 Self-Administered Premium-Only Plan $99 to create / change documentation When you enroll in the self-administered Premium-Only Plan, you are given all the necessary documents to administer the program yourself including a fully compliant Plan Document and Summary Plan Description, employee enrollment forms, payroll guide, and non-discrimination / concentration testing spreadsheet. You will also have access to the Kushner & Company Project Team who will handle any questions you have along the way. Fully Administered Premium-Only Plan $27.50 per month When you enroll in the fully administered option, Kushner & Company, does all the work for you. The Plan Document and SPD is completed for your company and tailored to your specifications. You will be contacted by a representative from the Project Team who will set up all aspects of the plan on your behalf. This option minimizes paperwork for you to complete and greatly simplifies the implementation and administration. This option also includes annual non-discrimination testing for your company.
8 Section 125 Plan Administration with Flexible Spending Account (FSA) A Flexible Spending Account is a low cost way for your enhance your employee benefits package by providing your employees reduced federal income taxes, social security taxes, and state income taxes. It also allows your employees to better budget for known out-of-pocket expenses over a twelve month period. Flexible Spending Accounts Health Care Account: Employees may set aside a portion of their salary through pre-tax payroll deduction to pay for medical, dental or vision care expenses for the employee, their spouse and dependents that are not covered by any other insurance plan. These dollars go into a health care spending account and as expenses are incurred, employees can file a claim against their account and withdraw money to pay the expenses. Examples of such expenses include deductibles and copayments, the cost of prescription drugs, vision care (including eyeglasses and contact lenses, dental care and orthodontia not covered by your group health or dental plans. Flexible Spending Accounts Dependent Care Account: Employees (and their spouse, if married) who have children and have to pay someone to watch the children so they can work, look for work, or attend school full-time, the employee can elect to set aside a portion of their salary through pre-tax payroll deduction to pay for those expenses. These dollars go into a dependent care spending account and as expenses for daycare or babysitting are incurred, employees can file a claim against their account and withdraw money to pay the expenses. COST $5.25 per month per participant ($52.50 per month minimum) Free debit card If you elect this enhanced option, you will receive all of the Premium Only Plan administration, as well as Flexible Spending Account processing for your employees health and dependent care. This includes an administration guide to aid you in the day-to-day operations of the FSA plan, employee communication materials, enrollment forms and claims kit, daily processing of employee claims, and once a week you ll receive a Deposit Report, Check Report and a Year-To-Date Benefit Summary. Employees receive a free debit card to pay for eligible expenses and gives them direct access to their account (when using an approved bank). Your employees will have password protected access to the BeneWorld Web site where they can view all FSA activity within their own account.
9 Health Reimbursement Arrangement (HRA) Administration Health Reimbursement Arrangements (HRAs) are an effective and efficient way to provide employer-funded health benefits to employees of any type of business. HRAs allow individual employees to customize their benefits without adding administrative cost on your part. There is no requirement that the employer maintain any health insurance plan and employees may optionally elect lower-cost individual insurance. The most attractive feature of HRAs is that they allow for payment of all qualified health-related expenses on a pre-tax basis. All businesses, including one-person and part-time businesses, may operate an HRA plan. Self employed, partnerships, and shareholders with more than 2% ownership in an S-Corp cannot have an HRA but their employees can participate. Amounts provided by employers to employees are tax free and may be used to pay for group or individual health insurance or for any noninsured medical expense. These benefits are not wages and therefore are not subject to income taxes or wage taxes, FICA or worker s compensation. You may derive the benefits formula in any manner that is not considered discriminatory to the owner and highly compensated employees. Unused benefits may roll over from one year to the next and be banked for future expenses. Unlike an HSA, there is no requirement to set up separate accounts for employees. The primary benefit is that each employee may customize and optimize his or her own health benefits at no additional cost or effort required on your part. There are two types of fully administered HRAs: Standard HRAs are relatively simple and can be processed automatically. Non-Standard HRAs are more complex and have to be processed more manually. This additional effort requires slightly higher administration fees. The tables to the right illustrate examples of standard and non-standard plans. Kushner & Company will work with you to set up whichever HRA you choose and provide all the necessary documentation including Custom Plan Document and Summary Plan Description (SPD), employer-specific enrollment forms, employee communication materials including an employee newsletter explains the benefits and tax savings of the plan and online benefits access, direct deposit and available debit cards. Standard Health Reimbursement Arrangement: $5.25 per month per participant ($52.50 per month minimum) Free debit card Non-Standard Health Reimbursement Arrangement: $10 per month per participant ($100 per month minimum) SBAM also offers a self-administered HRA option for $99. You will receive all the necessary documents to administer an HRA yourself including the HRA Master Plan Document, HRA Summary Plan Description, and HRA Plan Document Cover Letter.
10 Health Savings Account Administration $2.75 per month per participant; FREE debit card ($27.50 per month minimum) A Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for payment of current and future qualified medical expenses. To have an HSA, you must first have a qualified high-deductible health plan. Qualified Medical Expenses Qualified medical expenses for an HSA include health insurance plan deductibles, co-payments and co-insurance amounts, prescription and over-the-counter drugs, dental services, vision care, long-term care, psychiatric and certain psychological treatments and certain health premiums including COBRA (but not premiums while an active employee). HSA Contributions Once you have established the HSA, your company, the employee or both may contribute to the HSA in a given year. For an HSA established by a self-employed individual, the individual may contribute to the HSA. In addition, family members may contribute to an HSA on behalf of another family member. Contributions to an HSA must be made in cash. Contributions to an HSA may be made through a Section 125 Plan via the pre-tax payroll method or after-tax by making deposits. In any given year, contributions may be made until April 15 the following year. HSAs may be invested much like a 401(k) or an IRA in an interest-bearing account, a mutual fund or stocks and bonds. Because you don t know when the HSA will be called upon for medical expenses, it is generally recommended that the majority of funds be readily accessible through a bank account. No Limits or Risk of Losing Funds with an HSA There is no use-it-or-lose-it provision with an HSA. Any balance of funds at the end of the year may be carried over into future years with no limits. The HSA Stays with the Employee Because the account is owned by the employee or individual and maintained in a trust, the account holder may use the account after he or she leaves the employer who offered the qualified high-deductible health plan. Debit Card Employees receive a free debit card to pay for eligible expenses and gives them direct access to their account (when using an approved bank).
11 Enrollment Checklist Complete and sign the SBAM Membership Application. A $90 check for first year membership investment made payable to SBAM (Small Business Association of Michigan). If the company chooses to pay monthly, or the agent is using a voucher to cover the cost of the first year dues, please indicate so on the membership application. Complete the Enrollment Form identify which plan option the company is choosing and method of payment. Complete and sign the Agreement. Payment for Section 125 Plan, FSA, HSA or HRA administration: If the company chooses the $99 Per Access Fee option for their self-administered Premium-Only Plan or Health Reimbursement Arrangement, please include a check made payable to SBAS (Small Business Administrative Services). If the group chooses any other monthly payment option, they will be billed on a monthly basis. The monthly charges will be included on the group s monthly BCBSM premium invoice, or if they have BCN or any other non-blue provider, they ll receive a monthly invoice directly from SBAM. Submit the above documents to the following address: SBAM Attn: Small Business Administrative Services (SBAS) PO Box Lansing, MI
12 Timelines: Complete implementation of the plan(s) usually takes two to four weeks. After SBAM receives the initial enrollment form and agreement, Kushner & Company will contact the group and/or insurance agent via with the Client Information Sheet and the HRA Adoption Agreement (if applicable). A conference call is scheduled to gather the necessary information together with Kushner & Company. Once Kushner & Company has received the completed Client Information Sheet and the HRA Adoption Agreement (if applicable), they will begin to generate the materials for the plan(s). Depending on the time of year, and complexity of the plan(s), the client will receive all of materials within one to two weeks. Your client receives the following materials from Kushner & Company in a series of s separated by the types of information: Enrollment and Plan Administration Materials These s contain all materials necessary for the client s open enrollment period and plan administration throughout the plan year. There will typically be a separate for employer materials and employee materials. They may include items such as: Employee Enrollment Form Request for Reimbursement Form Newsletter and/or PowerPoint Flexible Spending Account Worksheets Direct Deposit Authorization Forms (employer and employee) Online Inquiry and Claim Entry Instructions FSA Eligible Expense List Debit Card Information Notice of Termination FSA Deduction Reporting Instructions Discrimination Testing Information and Census Spec Sheet Employer Administration Guide
13 Plan Documents This from Kushner & Company will include all Plan Documents associated with the plan(s) chosen by the client. These documents may include the following: Section 125 / FSA Plan: Section 125 Plan Document, Section 125 Summary Plan Description, and Section 125 Plan Document Cover Letter HRA Plan: HRA Adoption Agreement, HRA Master Plan Document, HRA Summary Plan Description, and HRA Plan Document Cover Letter Administrative Services Agreement: If the client hasn t already signed a contract, an Administrative Services Agreement will be included HIPAA Medical Privacy One requirement of maintaining a Flexible Spending Account (FSA) or Health Reimbursement Arrangement (HRA) plan(s) is for the employer to incorporate HIPAA Medical Privacy Policies and Procedures, and have a Business Associate Agreement in place with Kushner & Company (and any other outside entity that handles Protected Health Information for the plan(s)). Depending on the client s situation, they may receive the following from Kushner & Company: HIPAA Medical Privacy Policies and Procedures: If the client does not yet have one in place, Kushner & Company will provide a complete kit to satisfy the requirements. Business Associate Agreement: Regardless of whether or not the client already has HIPAA Medical Privacy Policies and Procedures in place, a Business Associate Agreement must be signed between the client and Kushner & Company.
14 Forms for Kushner & Company - Once the client has received the before mentioned information, and completed open enrollment, there are a number of items that must be sent back to Kushner & Company. These may include the following: Copies of completed enrollment forms or a spreadsheet file listing each employee s election(s). Completed census file according to sent Census Spec for all benefit eligible employees ed to Kushner & Company. If easier for client, this file can also include employee s elections Signed copy of the Business Associate Agreement After the first deduction date, Flexible Spending Account (FSA) plans will need to provide Kushner & Company with a spreadsheet file based on the Spec Sheet. This will then need to be sent to Kushner & Company each pay period.
15 Small Business Administrative Services, LLC (SBAS) is a subsidiary of the Small Business Association of Michigan (SBAM). SBAS is responsible for the promotion and initial enrollment of the POP, FSA, HSA and HRA program. Small Business Association of Michigan (888) (888) GET-SBAM / (888) SBAM s Employee Health Plan Funding & Administration is administered by Kushner & Company in Portage, Michigan. As an SBAM member participating in our program, you will be assigned a Project Team from Kushner & Company who will answer any plan or design questions you have throughout the year. Ben Cohen Project Manager, Kushner & Company (269) (800) KUSHNER / (800) Jennifer Alfieri Project Assistant, Kushner & Company (269) (800) KUSHNER / (800)
CLIENT INFORMATION FORM Company Profile Legal Name of Organization: Mailing Address: City: State: Zip: Executive Officer (signer): Title: Email Address: Telephone: Business Activity: Employer Fed Tax ID#:
FREQUENTLY ASKED QUESTIONS (Information obtained from US Treasury HSA website) HSA Basics What is a Health Savings Account ( HSA )? A Health Savings Account is an alternative to traditional health insurance;
This Guide is for informational and educational purposes only. It does not constitute legal advice or a comprehensive guide to issues to be considered by employers in establishing tax-advantaged benefits
Flexible Benefits Employer Guide Save thousands on FICA contributions every year! A Flexible Benefits Plan through Discovery Benefits will: - Increase employee retention and satisfaction - Save matching
Health Savings Accounts Frequently Asked Questions Health savings accounts put your health care spending in your own hands. You decide when and how to use your health care dollars and you can save on taxes
Health Savings Accounts (HSA) A healthy way to save Invest in your health with an HSA A Health Savings Account (HSA) is an individually-owned, tax-free, interest-bearing savings account that is used to
Flexible Spending Accounts Frequently Asked Questions Flexible spending accounts (FSAs) allow you to reduce your tax burden and increase your take home payable income, while you set aside money for eligible
FlexShare Benefits Professional tax-favored program administration and processing to make your employee benefit plan easier and more cost effective. FlexShare Benefits 4000 House Avenue Cheyenne, WY 82001
Overview Q. What is a Health Savings Account (HSA)? A: An HSA is a pre-tax account you set up with a high-deductible health plan to help pay for or reimburse current and future IRS-approved qualified medical
Health Savings Account Frequently Asked Questions (for Core 60 Medical Plan Members) The Health Savings Account (HSA) is a great way to save for health care expenses incurred today or in the future for
Summary Plan Description Important Benefits Information AT&T Flexible Spending Account Plan This summary plan description (SPD) is a guide for using the AT&T Flexible Spending Account Plan (Plan). Please
Employer Administered Flexible Spending Account Employer Administered FSA... an important part of your employee benef its plan. Blue Shield of California offers an affordable way for you to provide a valuable
Health Savings Accounts I. What Are HSAs and Who Can Have Them? What is an HSA? An HSA is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses
Health savings account Q&As What are HSAs and who can have them? 1. What is a Health Savings Account (HSA) and how does it work? An HSA is a tax-advantaged account established to pay for qualified medical
Health Savings Account HSA Summary Effective January 1, 2016 TABLE OF CONTENTS INTRODUCTION... 3 WHO IS ELIGIBLE... 3 IRS REQUIREMENTS... 3 WHEN IS ELIGIBILITY DETERMINED?... 3 DO MY SPOUSE & I ESTABLISH
HEALTH SAVINGS ACCOUNT Q&A HSA BASICS What is a health savings account or HSA? A health savings account (HSA) is a tax sheltered savings account, which is only offered to people who are covered under a
Health Savings Accounts (HSA) Health Savings Accounts A Health Savings Account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in an HSA-qualified
ZaneHRA Frequently Asked Questions As you evaluate whether using ZaneHRA makes sense for your company, you will likely have questions about how ZaneHRA works. This document addresses common questions employers
FREQUENTLY ASKED QUESTIONS QUALIFIED HIGH DEDUCTIBLE HEALTH PLAN WITH A HEALTH SAVINGS ACCOUNT Qualified High Deductible Health Plans (QHDHP) What is a QHDHP? A QHDHP is a medical plan regulated by the
Administration Proposal Cafeteria Plan A Flexible Benefits Program Want a benefits program that suits BOTH you and your employees? One that offers tax savings, convenience and customer support? It s time
Raymond James & Associates, Inc. Anne Bedinger, WMS Vice President, Investments 2255 Glades Road, Suite 120-A Boca Raton, FL 33431 561-981-3661 800-327-1055 Anne.Bedinger@RaymondJames.com www.annebedinger.com
IRS Issues New Proposed Cafeteria Plan Regulations On August 6, 2007, the Internal Revenue Service (IRS) published new proposed regulations on cafeteria plans ( proposed regulations for a copy visit http://edocket.access.gpo.gov/2007/pdf/e7-14827.pdf).
Cafeteria Plan Basics 2016 Employee Benefits Corporation 2 1 Jessica Theisen Compliance Advisor, FCS Employee Benefits Corporation The material provided in this webinar is by Employee Benefits Corporation
Section 125 Cafeteria Plan Employer Guide Premium Health FSA Dependent Care Assistance FSA Section 125 Employer Guide Employers nationwide are learning how to offset high insurance premium increases by
Kitsap Bank Health Savings Account Guide A tax-smart way for you to manage growing healthcare costs. At Kitsap Bank, we believe that helping you prepare for the rising cost of health care is key to helping
Your Health Savings Account Reference Guide Your Guide to Understanding a Health Savings Account The Fidelity HSA A tax-advantaged way to pay for health care expenses* A health savings account (HSA), combined
Aetna HealthFund Health Savings Account Take control of your health care and your health care dollars! 14.02.305.1 B (2/07) The Aetna HealthFund Health Savings Account (HSA) A new way to manage your health
Health Reimbursement Arrangement Comprehensive HRA Limited HRA Insurance Premium Reimbursement HRA Health Reimbursement Arrangement What is a Health Reimbursement Arrangement (HRA)? HRAs go by many names,
Employers Guide to Health Savings Accounts Employers Guide to Health Savings Accounts A Health Savings Account (HSA) is a tax-advantaged medical savings account available to individuals enrolled in a high
Health Savings Account (HSA) with Limited Purpose Flexible Spending Account (LPFSA) University of Rochester Feb 2 and 4, 2015 Aetna Consumer Financial Solutions products are administered by PayFlex Systems
Your Flexible Spending Account (FSA) Guide Plan Year: January 1, 2015 December 31, 2015 What is a Flexible Spending Account? A flexible spending account (FSA) lets you set aside money from your paycheck
New Group Application East Region New business effective Jan. 1, 2011 2-50 Eligible employees PriorityHMO SM PriorityPOS SM PriorityPPO SM Revised 10/10 Life just got a little easier. This comprehensive
Taking Advantage Of Your Company s Flexible Benefit Plan Results In A Bigger Paycheck Sometimes referred to as a Flexible Spending Account, Section 125 Plan, Cafeteria Plan or Section 132 Plan, a Flexible
F lexible S pending A ccount Employee Guide Stretching your health care dollars PO Box 628 Columbus, IN 47202 ATTN: Flex (877) 484-6136 email@example.com www.ezflexplan.com/iuhealth WHAT IS A FLEXIBLE
Health Care Reform Frequently Asked Questions On March 23, 2010, President Obama signed federal health care reform into law, also known as the Patient Protection and Affordability Act. A second, or reconciliation
Frequently Asked Questions on Consumer-Driven Health Plan and Health Savings Accounts In 2007, Dow Corning implemented a Consumer-Driven Health Plan (CDHP) option that includes a Health Savings Account
Health Savings Accounts: Common Questions and Their Answers I. General HSAs II. Qualified High-Deductible Health Plan HDHPs III. Contributions to an HSA Distributions BlueAccount I. General HSAs I.1 What
WHAT IS A FLEXIBLE SPENDING ACCOUNT (FSA)? A Flexible Spending Account, sometimes referred to as a Section 125 Plan, is a company-sponsored program, which allows you to voluntarily set aside pre-tax dollars
Health Savings Account (HSA) with Limited Purpose Flexible Spending Account (LPFSA) University of Rochester Feb 10 th and 11 th, 2016 What is a Health Savings Account (HSA)? An HSA is a health care savings
Health Flexible Spending Account Summary Plan Description Health Flexible Spending Account Summary Plan Description KEY DEADLINES APRIL 15 ANNUALLY Submit your claims for reimbursement; when the deadline
Electing Pre-tax Dollars To Pay For Your Health Care Expenses FSA LPF HSA Your Benefit Options Based On Your Health Insurance Plan BENEFIT OPTIONS You Have Elected a Traditional Health Plan... Low or no
2015 Tax-Advantaged Accounts Guide Health Savings Accounts & Flexible Spending Accounts Tax-Advantaged Accounts Guide Health Savings Accounts & Flexible Spending Accounts What is a Health Savings Account?
Account Overview Tax-exempt trust or custodial account created to pay for the qualified medical expenses of the account holder and his/her spouse or dependents. A cafeteria plan authorized under Section
Reporting and Plan Documents under ERISA and Cafeteria Plan Rules The Employee Retirement Income Security Act (ERISA) was signed in 1974. The U.S. Department of Labor (DOL) is the agency responsible for
Flexible Spending Accounts: October 2015 Contents Ford s Flexible Spending Accounts What is a Flexible Spending Account (FSA)? How much can I contribute to an FSA? How can I keep track of my account balance?
YOUR GUIDE TO A HEALTH SAVINGS ACCOUNT (HSA) DOES A HIGHMARK HEALTH SAVINGS ACCOUNT (HSA) MAKE SENSE FOR YOU? An HSA is a tax-advantaged savings account that s available to people whose health care coverage
Health Savings Account FAQs These questions and answers summarize the basic concepts of a Health Savings Account (HSA). It is not intended to provide all the information you need in order to make a decision
Benefits Open Enrollment Frequently Asked Questions Plan year: July 1, 2014, through June 30, 2015 Open Enrollment begins May 15 and ends May 30. You must enroll in order to receive medical, prescription,
Get Started with a Health Savings Account www.discoverybenefits.com A combination that puts you in control There s a relatively new way to pay for health care that is gaining popularity; a high deductible
Health Reimbursement Arrangements Health Reimbursement Arrangements (HRAs) are plans designed to help employers and employees lower health care costs. Allowed under sections 105 and 106 of the Internal
Blue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions What is the Blue Shield of California CDHP with HSA? The Blue Shield of California
NONDISCRIMINATION TESTING GUIDE NONDISCRIMINATION TESTING GUIDE Table of Contents When to Perform Testing... 3 Controlled and Affiliated Service Groups... 3 Cafeteria Plan.... 3 Cafeteria Plan Eligibility
Your Health Savings Account Reference Guide Your Guide to Understanding a Health Savings Account Table of Contents The Fidelity HSA...1 Opening and Contributing to Your Fidelity HSA...3 Using Your Fidelity
Your Health Savings Account Reference Guide Your Guide to Understanding a Health Savings Account Table of contents The Fidelity HSA...1 Opening and Contributing to Your Fidelity HSA...3 Using Your Fidelity
accounts Invest in your health and your future. We ll go the distance to ensure your peace of mind and make the whole process fast and easy. Choosing a healthcare plan that suits the needs of you and your
SECTION 125 CAFETERIA PLANS NONDISCRIMINATION TESTING GUIDE AND FAQs 2016 Why Do We Have To Test Our Section 125 Plan? Because Code Section 125 cafeteria plans (and the component benefits within the 125
2015 Health Savings Account (HSA) Frequently Asked Questions Table of Contents Health Savings Account (HSA) Plans What is a Health Savings Account (HSA)?...pg. 1 How does an IU Health HSA work?...pg. 1
H.S.A. FAQ s Frequently Asked Questions By Topic Health Savings Accounts What is a Health Savings Account (HSA)? Why should I consider getting an HSA? What are qualified medical expenses? What is an HSA-eligible
SUPERVALU: Your Health Savings Account (HSA) Frequently Asked Questions 1. What is a Health Savings Account (HSA)? A Health Savings Account (HSA) is a savings account established under the Internal Revenue
FLEXIBLE SPENDING ACCOUNT (FSA) PLAN DESIGN GUIDE Please complete this form and return to SelectAccount 45 days before your effective date so we can properly administer your plan. If you have any questions,
Flexible Spending Accounts Bank on a Tax Break 2797 FRONTAGE ROAD, SUITE 2000 ROANOKE, VA 24017 800.815.3023, OPTION 4 www.cbiz.com Health Care Flexible Spending Account (FSA) Contributions You determine
Flexible Spending Accounts (FSAs) Frequently Asked Participant Questions (FAQ) GENERAL FSA What Is A Health Care Flexible Spending Account (FSA)? The Health Care FSA is an employer-sponsored plan, which
Aetna HealthFund Health Savings Account Plan Take Control of Your Health Care and Your Health Care Dollars! Administered by Aetna Life Insurance Company. PPO/POS II/OAMC w/rx 41.02.318.1 (7/05) Welcome
Consumer Choice Plan, Health Savings Account and Health Care Flexible Spending Account Frequently Asked Questions Information on how the plan and the accounts work The Consumer Choice Plan 1. How is the
FREQUENTLY ASKED QUESTIONS HEALTH SAVINGS ACCOUNTS What is an HSA? A health savings account (HSA) is a tax-favored savings account created for the purpose of paying medical expenses. Tax-deductible Contributions
HSA health savings account offered with MVP partner banks The perfect companion to MVP high-deductible plans. Part of MVP s New Value plans. MVP HSA: quick look Employee savings account funded by the employer,
HSAs Health Savings Accounts 2014 and 2015 Limits Questions & Answers What is a Health Savings Account (HSA)? An HSA is a tax-exempt trust or custodial account established for the purpose of paying medical
Health Reimbursement Account (HRA) Frequently Asked Questions (FAQ) What is a Health Reimbursement Account (HRA)? The HRA is an employer-sponsored plan that can be used to reimburse a portion of you and
Welcome to your WealthCare Health Savings Account Enclosed is everything you need to help you learn how to use your HSA. Let s get started! effective 1/1/2015 Congratulations! Thank you for opening a Health
GEHA 2014 Health Savings AdvantageSM High-deductible health plan with a health savings account (HSA) (800) 821-6136 geha.com CODE Self Only 341 Self + Family 342 Enrollment checklist 1. Research health
Health Savings Accounts & High Deductible Health Plans Definitions Consumer Driven Health Plan ( CDHP ) A health insurance plan designed to give you more control over your health care spending. CDHPs incorporate
Highlights of the Boehringer Ingelheim: Retirement Savings Plan Retirement Plan This brochure is intended for eligible employees of Boehringer Ingelheim hired after December 31, 2003. Table of Contents
THE HEALTH SAVINGS ACCOUNT C O N T E N T S Start Saving Now for Your Future Health Care Needs............. 1 How the BlueEdge Plans and the HSA Work Together............. 3 Tax Advantages of an HSA...................................
SECTION 125 FLEXIBLE BENEFIT PLANS A Summary of the Reimbursement Account Arrangement Unreimbursed Medical Expense Account Dependent Day Care Expense Account AFES rev 12/12 0 Dear Participant: Thank you
FAQs: Health Savings Accounts (HSA) Thank you for choosing NTA Life Business Servicess Group, Inc. to be your HSA provider. We want to make it easy for you to manage and maintain your Health Savings Account,
An Overview of s (HSAs) 1 With Comparison to s, Arrangements (HRAs) and s (FSAs) Overview 2 A tax-exempt trust or custodial account established for the purpose of paying qualified medical expenses in conjunction
Aetna HealthFund Health Savings Account Take control of your health care and your health care dollars! 14.02.305.1 D (12/08) Aetna is the brand name used for products and services provided by one or more
HRA Frequently Asked Questions 10/15 HRA Descriptions What is an HRA? How does it work? A health reimbursement arrangement (HRA) is an employer-provided tax-sheltered arrangement that allows individuals
Health Savings Accounts 2013 Benefits Open Enrollment What is a Health Savings Account? The health savings account, or HSA, is an account that you can contribute to on a per-pay-period basis. The money
Aetna HealthFund Health Savings Account Take Control of Your Health Care and Your Health Care Dollars! 14.02.305.1 (10/05) The Aetna HealthFund Health Savings Account (HSA) by Aetna Life Insurance Company
Diageo: Your 2015 Employee Benefits 87 Health and Dependent Care Flexible Spending Accounts (FSAs) Diageo NA provides you with an opportunity to contribute to two kinds of flexible spending accounts (FSAs),
FSA FAQs Get the answers you re looking for 1. What is a Health Care FSA? 2. How is using an FSA like giving myself a raise? 3. What happens if I don t use all the money in my FSA by the end of the plan
The Health Savings Account User Guide C O N T E N T S Start Saving Now for Your Future Health Care Needs............. 1 How the BlueEdge Plans and the HSA Work Together............. 3 Tax Advantages of
Aetna HealthFund Health Savings Account Take control of your health care and your health care dollars! Small Group 41.02.326.1 B (9/08) Aetna is the brand name used for products and services provided by
UMB Healthcare Services HSA FAQ Resource Library This FAQ document gives you easy answers to your clients most common Health Savings Account (HSA) questions. Simply click the question below and it will
P.O.P. Premium Only Plan The Premium Only Plan (P.O.P.) helps you and your employees save money with pre-tax premiums. Save money with P.O.P. The Premium Only Plan (P.O.P.) is an employee benefit program