Using Your Health Savings Account (HSA)
|
|
- Irene Gabriella Hoover
- 8 years ago
- Views:
Transcription
1 For Kraft employees newly eligible for benefits May 1, 2014 and after Using Your Health Savings Account (HSA) One of the most important things to know about the Kraft Foods Medical Plan is that premium costs are lower because of the high deductible health plan design. That gives you more money to save in your Health Savings Account (HSA) so you can use tax free dollars to cover your deductible, co insurance and co payments. Use HSA dollars to pay qualified health care expenses today or save for future expenses. You can use your HSA to pay for eligible health care expenses for yourself, your spouse and your dependents that you claim on your tax return even if they re not enrolled in the Kraft Foods Medical Plan. And you can use your HSA to pay expenses such as medical, prescription drug, dental, orthodontia and vision expenses it offsets the higher deductible. In fact, the lower premiums you pay for this type of medical plan, together with the Kraft Matching Contribution and the potential for earning Healthy Living Rewards, all work together to offset the higher deductible. Plus, you can make your own contributions to your HSA, too, up to IRS limits. TOOLS TO USE For more help in understanding how the Kraft Foods Medical Plan and the HSA work, check out the Animated Video: Join Mr. Peanut in learning how to use the HSA along with your Kraft Medical Plan. 1
2 Who Is Eligible to Contribute to an HSA? Health Savings Accounts (HSAs) offer tax advantages, and the government has some rules on who can contribute to them: 1. You must be enrolled in a high deductible health plan like the Kraft Foods Medical Plan. 2. You can t have other health coverage including under another employer s plan, or a government plan such as Medicare or TriCare unless the other coverage also qualifies as high deductible health plan coverage as defined by law. Disability, long term care, dental care and vision care are not considered to be other health plan coverage for this purpose. 3. You or your spouse cannot be covered under a Health Care Flexible Spending Account even if your spouse elects it under his or her employer s plan and even if you don t claim any reimbursements for services or supplies you obtain. 4. You cannot be claimed as a dependent on someone else s tax return. (Filing a joint return with your spouse does not constitute being claimed as a dependent.) You can, however, be covered under a dental plan (including the Kraft Foods Dental Plan) or a vision plan (including the Aetna Vision Preferred Plan) and be eligible for HSA participation. IMPORTANT: You are solely responsible for determining whether you are eligible to maintain an HSA in accordance with the applicable Internal Revenue Service rules. See your Medical Plan Summary Plan Description for more information; go to MyHR Online, click Benefits to access MyBenefits Online. GOOD TO KNOW If you enroll in the Kraft Foods Medical Plan and you aren t eligible to make contributions to an HSA, you can participate in the Health Care Flexible Spending Account (FSA) to pay for health care expenses with before tax dollars. Kraft will match your contribution to your Health Care FSA, $1 for $1 up to $500. Remember, though, you forfeit any money in your Health Care FSA that you don t use for current year expenses. 2
3 What Is a High Deductible Health Plan? A high deductible health plan is a health plan with an annual deductible of $1,250 or greater for Employee Only coverage, or $2,500 or greater for any other coverage level. With this type of plan, the out of pocket maximums do not exceed $6,250 for Employee Only coverage or $12,500 for any other coverage level. Why a high deductible health plan with an HSA? Kraft is very much in line with other major companies by offering HSAs to employees. A recent survey found that 66% of large companies offered employees at least one account based plan option this year, and that number is expected to grow to 80% next year. The premiums of this plan are less expensive than the old plan. Premium costs for the Kraft Foods Medical Plan are lower than the former plan. And that, of course, gives you more money in your pocket. We encourage you to put those extra dollars into your HSA. With an HSA you save money on taxes because: Money going in is tax free, Money you use is tax free (as long as it s used for covered health expenses), and Any investment earnings are tax free. You are 100% protected for major illness or injury. That means that once you reach your out of pocket maximum, the plan pays 100% of expenses for the rest of the calendar year. With an HSA, you play an active role in managing your health care costs. In other words, you have a stake in the game AND you have the power to be a thoughtful and smart buyer of health care services. Last, you can save money for future health care expenses when you retire or leave Kraft. 3
4 Get Your Account Started If you ve already opened your HSA, you re all set. Kraft will match your contributions $1 for $1 up to $500. Your contributions will be made through before tax payroll deductions throughout the year and the Kraft Matching Contribution will be deposited to your HSA on a per paycheck basis until you reach the $500 maximum. GOOD TO KNOW If you are enrolling in the Kraft Foods Medical Plan for the first time, the Patriot Act mandates that all banks verify information about a consumer before an account can be opened. This is called the Customer Identification Process (CIP), and it generally takes three business days. PayFlex is the trustee of the Aetna Health Savings Account. Look for information from PayFlex After your HSA is opened, you will receive the following information at your home mailing address: Letter with PayFlex Custodial Agreement and Fee Schedule. Welcome letter with instructions on how to register your account online, order additional cards, and choose your account notifications. Once you pass the Customer Identification Process (CIP) process, your PayFlex Debit Card will be mailed this card cannot be used until you activate it, select a Personal Identification Number (PIN) and sign the back. Manage your HSA online at Aetna Navigator. You have 24/7 secure access to your HSA balance and activity. Go to MyHR Online, click Benefits to access MyBenefits Online. From MyBenefits Online, click on Aetna Plans/Health Assessment, then go to Your Accounts & Funds, or go directly to Aetna Navigator and provide your Aetna login information. 4
5 How Is My HSA Funded? Money can be deposited into your HSA in three ways: 1. Your own contributions. You save on taxes by contributing to your HSA. 2. Kraft Matching Contribution. Kraft matches your contributions $1 for $1 up to $500. The Kraft Matching Contribution into your HSA puts money in the bank to help you pay your deductible. 3. Healthy Living Rewards. When you take part in various Healthy Living Rewards activities, you can earn up to an additional $1,000 contributed to your HSA. Keep in mind the IRS limits the amount that can be deposited into your account each year based on your coverage level: Coverage Level IRS 2014 Contribution Limit Employee Only $3,300 Any other coverage level $6,550 NOTE: These dollar amounts combine money both you and Kraft can contribute in So be sure to subtract the Kraft Matching Contribution (up to $500) and any rewards dollars you earn (up to $1,000) when you calculate your own contributions. GOOD TO KNOW You can change your election anytime during the year. You can use your HSA dollars to pay eligible health care expenses today or save for future expenses like out of pocket costs, including your deductible, co payments and co insurance. 5
6 How Do I Contribute to My HSA? You can make HSA contributions through before tax payroll deductions or directly to PayFlex, up to the annual limit. Your contributions can be spread out in equal monthly installments throughout the calendar year. However, you may want to frontload your HSA to have enough in your account to cover your out ofpocket expenses you may incur early in the year (for example, if you find out that you will incur a large health care expense in January or February). You have a couple ways to speed up deposits to your HSA through payroll deductions and through personal deposits. Remember, you do not need to have a qualifying change in status or wait for next year s Annual Enrollment to make a change. You can increase or decrease your payroll contributions to the HSA any time. Changing your HSA contribution To change your HSA contribution anytime, go to MyHR Online, click Benefits, then Work and Life, then HSA Election Update. You can also contact the Kraft Foods Benefits Center at KRAFT HR ( ) and select Option 1 Benefits, then Option 1 Health and Wellness. Yours to keep Your HSA is like a 401(k) for health care expenses, except you can use it today or save it for future qualified expenses. Any money in your HSA that you do not use is always yours to keep, even if you leave or retire from the Company. Unlike a Kraft Foods Health Care FSA, you do not need to use it or lose it before the end of the year you can roll over your dollars from year to year and spend it when you really need it, whether that s next year or in retirement. In addition, when you save with an HSA, your balance earns interest. When your balance reaches $1,000, you will have investment options. 6
7 How Do I Use My HSA to Pay for Expenses? You have options on how and if you use your HSA to pay for your health care expenses. As long as the money is used for qualified medical expenses, it comes out of your account tax free. If you have enough money in your account to cover the expense, you can use one of the methods below to pay for the qualified medical expense: Use your PayFlex Debit Card. It will be mailed to you after you open your HSA and pass the Customer Identification Process (CIP) process. As soon as you sign your card and set up your PIN, you can use it for direct payment at a doctor s or dentist s office, pharmacy or health care facility. Schedule to make a payment to a doctor or health care facility through your HSA on Aetna Navigator. IMPORTANT: You cannot use your PayFlex Debit card at an ATM. And if you don t have enough in your account? Pay with money out of your own pocket and then reimburse yourself by making a withdrawal from your HSA on Aetna Navigator, once you have enough money in your HSA. Finding your HSA balance It s good to know how much you have in your HSA at any given time so you know how you want to pay your eligible expenses. To access your HSA balance: Go to MyHR Online, click Benefits to access MyBenefits Online. Then click on Aetna Plans/Health Assessment. Select Access your Account under Your Account & Funds. OR Log on to Aetna Navigator. GOOD TO KNOW Access your account on the PayFlex Mobile application with your PayFlex username and password. 7
8 What Expenses Can I Pay with My HSA? You can use your HSA to pay for any qualified expenses you incur on or after the date your HSA is opened. Eligible expenses include any out of pocket health care (including dental, vision and orthodontia) or prescription drug expenses you incur either before or after you meet the deductible. The IRS regulations allow you to use your HSA funds for eligible health care expenses incurred by your spouse and dependents (that are claimed on your tax return), regardless of whether they are enrolled in your medical or dental plans. Although you may enroll your domestic partner or your adult child in the Kraft Foods Medical Plan, if your domestic partner or adult child is not a tax dependent, you may not use your HSA to pay for otherwise qualified expenses. The following is a sample list of eligible HSA expenses. For the complete list see IRS Publication 502. Acupuncture Alcoholism treatment Ambulance Anesthetist Arch supports Birth control pills (by prescription) Blood tests Blood transfusions Braces Cardiographs Chiropractor Contact lenses Contraceptive devices (by prescription) Convalescent home (for medical treatment only) Crutches Dental treatment Dental x rays Dentures Dermatologist Diagnostic fees Drug addiction therapy Drugs (prescription) Eyeglasses Examples of HSA Eligible Expenses Fluoridation unit Gum treatment Gynecologist Hearing aids and batteries Hospital bills Hydrotherapy Insulin treatment Lab tests Metabolism tests Neurologist Nursing (including board and meals) Obstetrician Operating room costs Ophthalmologist Optician Optometrist Oral surgery Organ transplant (including donor s expenses) Orthopedic shoes Orthopedist Osteopath Oxygen and oxygen equipment Pediatrician Physician Physiotherapist Podiatrist Postnatal treatments Practical nurse for medical services Prenatal care Psychiatrist Psychoanalyst Psychologist Psychotherapy Radium therapy Registered nurse Special school costs for the handicapped Spinal fluid test Splints Sterilization Surgeon Therapy equipment Transportation expenses (relative to health care) Vaccines Vasectomy Vitamins (if prescribed) Wheelchair X rays Note: Over the counter medicines are not reimbursable unless prescribed by a doctor. 8
9 HSA Fees Kraft pays the monthly maintenance fee for your HSA as long as you remain employed by Kraft. No charges or fees apply for payment or reimbursement of out of pocket health care expenses through making a withdrawal. Also, no fees apply for payment or reimbursement using your PayFlex Debit Card. Certain fees apply based on how you use your HSA. You will be responsible for these fees. You can also view the fee schedule online at any time. Description Fee Tips for Avoiding Fees $1.50 View your monthly statement online at no charge. You can opt to receive mailed paper statements for a $1.50 monthly fee. Monthly Account Statement via Paper (includes postage) Stop Payment (per check) $25.00 You would incur this fee only if you request the bank to stop a payment on a check or electronic payment. Non Sufficient Funds (NSF) Fee (overdraft) $25.00 Before you use your HSA, make sure you have enough funds in the account. You can check your balance online at any time. Deposit Item Returned $25.00 $25.00 When you transfer funds into your HSA, make sure you have enough funds in your personal bank account to cover the transfer. In accordance with the terms and conditions of the Custodial Agreement, PayFlex reserves the right to change any of the above fees and will provide you with written notice. PayFlex also reserves the right to change additional fees and will provide you with written notice in advance. If your Medical Plan coverage status or employment status changes, your monthly account maintenance fee and other transaction fees may also change. 9
10 How to Designate a Beneficiary for My HSA Your beneficiary is the person or people who will be entitled to the money in your HSA if you die. If you are married when you die, your spouse is automatically entitled to your HSA unless you had previously submitted a properly completed form designating a beneficiary other than your spouse, and your spouse consented to the HSA designation. If your spouse is your beneficiary, the account is treated as your spouse s HSA after your death and should be used for qualified medical expenses to avoid being taxed. If you named another person as your beneficiary, the account stops being an HSA and your beneficiary will have to pay taxes on the distribution. If you don t name a beneficiary, the value of your HSA will be included as part of your estate and included in your final income tax return. To designate or change a beneficiary (if you have not previously designated one): Go to your HSA through Aetna Navigator: o Then, from the home page, click on Financial Center/My Profile and then Beneficiaries. OR Call HSA Member Services at Representatives are available Monday through Friday, 7:00 a.m. 7:00 p.m., and Saturday from 9:00 a.m. 2:00 p.m. CST. 10
Health Savings Account. Guide for Members
Health Savings Account Guide for Members Your Health Savings Account Take Control of Your Health Care A Health Savings Account (HSA) is a new way to secure more affordable health coverage for you and your
More informationHealth Reimbursement Arrangement (HRA)
Health Reimbursement Arrangement (HRA) How it Works Towers Watson has prepared this document for the benefit of IBM. This document contains proprietary material and should not be reproduced, either in
More informationA guide to. Information to help you use your Health Savings Account with your health plan
A guide to Information to help you use your Health Savings Account with your health plan Invest in your health with a Health Savings Account hsa Thank you for choosing a Premera Blue Cross Your Future
More informationHealth Savings Account. Guide for Members
Health Savings Account Guide for Members Take Control of Your Health Care A Health Savings Account (HSA) is a new way to secure more affordable health coverage for you and your family while you save on
More informationHigh Deductible Health Plan
High Deductible Health Plan Take control of your health care costs A nonprofit independent licensee of the Blue Cross Blue Shield Association Understanding your High Deductible Health Plan A high deductible
More informationSecurely connect with your money anytime, anywhere. Log in and experience the benefits.
Securely connect with your money anytime, anywhere. Log in and experience the benefits. prepared exclusively for SAMPLE HSA-KIT Account Type Number Health Savings Account 3045000000 Congratulations on
More informationMore savings. More choices. More focus on your health.
More savings. More choices. More focus on your health. It s all possible when you combine the right health plan with a Health Savings Account (HSA). HSA-PreSale-Brochure_FInal_1_12.indd 2 1/13/12 9:04
More informationHealth Savings Account. Guide for Employers
Health Savings Account Guide for Employers Offering a High Deductible Health Plan with a Health Savings Account HealthNow can help you design a high deductible health plan (HDHP) that qualifies to be used
More informationFlexible Spending Account (FSA)
EBS Flexible Spending Account (FSA) What is a Flex Plan? Set aside a portion of your pre-tax income into a Flex Spending Account or a Dependent Care Account. These accounts be used towards medical expenses
More informationHealth Savings Accounts Frequently Asked Questions (FAQs)
Health Savings Accounts Frequently Asked Questions (FAQs) If you are interested in enrolling in the new Gold Plan with an HSA during Open Enrollment, read on to learn more about the IRS requirements. Or,
More informationHealth Savings Account Questions and Answers
Health Savings Account Questions and Answers Health Savings Account Basics 1. What is a Health Savings Account (HSA)? An HSA is a trust or custodial account established exclusively to receive tax-favored
More informationAccount Holder Information Kit
Account Holder Information Kit Paying for healthcare just became easier. Welcome! Thank you for choosing the First Horizon Health Savings Account (HSA). This guide is designed to answer some basic questions
More informationHEALTH SAVINGS ACCOUNT
LEAR N CONTRIBUTE USE MANAG E INVEST THE CHASE HEALTH SAVINGS ACCOUNT TAK E C O NTR O L O F YO U R H EALTH CAR E S P E N D I N G BRC11793 LEARN CONTRIBUTE USE MANAGE INVEST What is a Health Savings Account?
More informationGet Started with a Health Savings Account
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
More informationOverview of Flexible Spending Accounts for School of Medicine House Staff
Overview of Flexible Spending Accounts for School of Medicine House Staff House officers can save money on eligible health care and dependent care expenses when they use the JHU flexible spending accounts.
More informationFlexible Spending Account (FSA) / Dependent Care Account (DCA)
Flexible Spending Account (FSA) / Dependent Care Account (DCA) University Medical Associates PLAN YEAR: 1/1/15 12/31/15 You have 90 days at the end of the Plan to file claims for services provided during
More informationCity Colleges of Chicago 2013 Flexible Spending Account (FSA) Open Enrollment
City Colleges of Chicago 2013 Flexible Spending Account (FSA) Open Enrollment Monday, November 26, 2012 Monday, December 10, 2012 Mark your Calendars. Enrollment Forms are Due Monday, December 10, 2012!
More informationIN THIS SECTION SEE PAGE. For More Information. Diageo: Your 2015 Employee Benefits 87
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),
More informationHealth Savings Account (HSA)
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
More informationhealth savings accounts Invest in your health and your future.
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
More informatione n r o l l m e n t g u i d e f o r CoreFLEX Flexible Spending Accounts from CoreSource
e n r o l l m e n t g u i d e f o r CoreFLEX Flexible Spending Accounts from CoreSource Table of Contents :: Overview....1 :: Medical Reimbursement Account...2 :: Dependent Care Account...3 :: Contribution
More informationHealth Savings Account (HSA) 101
HSA 101 Health Savings Account (HSA) 101 What is a Health Savings Account (HSA)? A personal financial account for payment of all medical, dental, vision, & Rx health care expenses free of income or payroll
More informationPRIVATE HEALTH SERVICES PLAN (PHSP)
PRIVATE HEALTH SERVICES PLAN (PHSP) Information Package for All Businesses For more information: Call: 1 (866) 996-7477 or E-Mail: phsp@stratabenefits.ca Administered by: A Private Health Services Plan
More informationHEALTH SAVINGS ACCOUNT
HEALTH SAVINGS ACCOUNT Enjoy A Lifetime of Healthcare Savings With HSA Advantage Your HSA Advantage account works with your HDHP health insurance (High Deductible Health Plan). It allows you to use tax-free
More informationEnrollment Packet. Distributions from your HSA. HSA Basics. HSA Eligibility. Advantages of an HSA. Contributions to your HSA
2013 Enrollment Packet HSA Basics A health savings account (HSA) is a tax-advantaged checking account that gives you the ability to save for future medical expenses or pay current ones. It is individually
More informationFREQUENTLY ASKED QUESTIONS QUALIFIED HIGH DEDUCTIBLE HEALTH PLAN WITH A HEALTH SAVINGS ACCOUNT
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
More informationHealth Savings Account (HSA) with Limited Purpose Flexible Spending Account (LPFSA) University of Rochester Feb 10 th and 11 th, 2016
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
More informationHealth Savings Account (HSA) A Member Guide
Health Savings Account (HSA) A Member Guide 1 Save the Smart Way And Maximize Your Healthcare Dollars With your BlueSolutions for HSA health plan, you have the option to set up a health savings account
More informationHSA Road Rules. A Consumer s Guide to Health Savings Accounts (HSAs) 12 TH Edition 2015 Limits 41.03.379.1 B (6/14)
HSA Road Rules A Consumer s Guide to Health Savings Accounts (HSAs) 12 TH Edition 2015 Limits 41.03.379.1 B (6/14) Table of Contents Introduction to Health Savings Accounts (HSAs)... 4 Universal HSA Principles
More informationThe Chase Health Savings Account (HSA)
The Chase Health Savings Account (HSA) The Chase HSA is a special tax-advantaged account that is used with a high-deductible health plan "HDHP," and allows you and your family members to pay for various
More informationMAKING THE MOST OF HEALTH SAVINGS. HEALTH SAVINGS ACCOUNTS. abgaccess.com/hsa 877.661.4727
MAKING THE MOST OF HEALTH SAVINGS. HEALTH SAVINGS ACCOUNTS abgaccess.com/hsa 877.661.4727 Saving for now What is an HSA? A health savings account (HSA) is a tax-exempt savings vehicle used to accumulate
More informationFocus on Savings. with Health Savings Accounts
Focus on Savings with Health Savings Accounts Health Savings Accounts Putting Your Health Plan to Work for You Find Out How Your Health Plan Can Save You Money The money in your HSA belongs to you and
More informationHealth Savings Account (HSA) A Member Guide
Health Savings Account (HSA) A Member Guide 1 Save the Smart Way And Maximize Your Healthcare Dollars With your BlueSolutions for HSA Direct health plan, you have the option to set up a health savings
More informationHealth Reimbursement Arrangement Employer Guide
Health Reimbursement Arrangement Employer Guide What Is A Health Reimbursement Arrangement, (HRA)? Health Reimbursement Arrangement HRAs have been referred to by many names over the last few years such
More informationFlexible Spending Accounts. Cornell University
Flexible Spending Accounts Cornell University Plan Year: January 1 December 31, 2014 What will be covered? Who is PayFlex? Flexible Spending Accounts PayFlex Card Getting reimbursed cornell.payflexdirect.com
More informationHow to get the most out of your Aetna HealthFund HSA.
How to get the most out of your Aetna HealthFund HSA. Welcome to HealthEquity. HealthEquity is your health savings account (HSA) administrator, which means it s our job to help you better understand and
More informationHealth Savings Account (HSA) Frequently Asked Questions
1. What is an HSA? A Health Savings Account (HSA) is a personal bank account created exclusively for individuals to pay for eligible health expenses and save for future healthcare expenses tax-free. Tax-deductible
More informationOpen a Flexible Spending Account. Health Care Eligible Expenses. Reduce your essential health care expenses by 20% to 40%
Health Care Eligible Expenses Open a Flexible Spending Account The list of eligible health care items is updated frequently by the Internal Revenue Service. If you are uncertain about whether or not an
More information2016 Health Savings Plan and Health Savings Account Questions
2016 Health Savings Plan and Health Savings Account Questions Health Savings Plan (HSP) What is the Health Savings Plan? The HSP is a High Deductible Health Plan (HDHP) with coverage that starts after
More informationIntroduction to Health Savings Accounts (HSAs)... 4. Universal HSA Principles for Consumers... 5. HSA Eligibility Road Rules... 6
HSA Road Rules Table of Contents Introduction to Health Savings Accounts (HSAs)... 4 Universal HSA Principles for Consumers... 5 HSA Eligibility Road Rules... 6 HSA Contribution Road Rules... 8 HSA Spending
More informationWhat is a Health Savings Account and what do I need to know? Q. What is a Health Savings Account?
What is a Health Savings Account and what do I need to know? Q. What is a Health Savings Account? A. A health savings account (HSA) combines high deductible health insurance with a tax-favored savings
More informationFlexible Savings Accounts
Flexible Savings Accounts Aetna Consumer Financial Solutions products are administered by PayFlex Systems USA, Inc. ( PayFlex ), an affiliate of Aetna Life Insurance Company ( Aetna ). PayFlex s robust
More informationA Guide to Using your Consumer-Directed Health Plan (CDHP)
A Guide to Using your Consumer-Directed Health Plan (CDHP) and Health Savings Account (HSA) A Guide to Using Your At The Hartford, we offer competitive benefits and programs to help you live well and coverage
More informationHealth Savings Account (HSA) State of Tennessee
Tax-Advantaged Accounts Health Savings Account (HSA) State of Tennessee What s a Health Savings Account (HSA)? It is an account you contribute to with pretax money deducted from your paycheck. You use
More information2015 Health Savings Account (HSA) Frequently Asked Questions. Table of Contents
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
More informationFlexible Spending Account Enrollment Packet
Flexible Spending Account Enrollment Packet The following forms are included in this enrollment packet: Enrollment Form In order to participate in a cafeteria plan you must complete the enrollment form
More informationPeak1 Administration 7600 Mineral Drive, Suite 450 Coeur d'alene, ID 83815 Email: membercare@mypeak1.com Phone: 866-315-1777 Fax: 855-495-3669
Peak1 Administration 7600 Mineral Drive, Suite 450 Coeur d'alene, ID 83815 Email: membercare@mypeak1.com Phone: 866-315-1777 Fax: 855-495-3669 MyPeak1.com Healthcare Flexible Spending Account Overview
More informationFSAs Explained. To get started, select a topic: It pays to plan ahead.
FSAs Explained To get started, select a topic: 1 2 3 4 It pays to plan ahead. 1 1 An FSA, or Flexible Spending Account, is a benefit you can choose during Open Enrollment. By contributing pre-tax dollars
More informationName (Last, First, Initial): Address: E-mail Address: Marital Status: Single Married Widowed Divorced
2015 Benefits Program Enrollment Form for Members of SEIU If you are transferring into a benefit eligible position, you must complete this form (online enrollment is unavailable). Please Print. You must
More informationHealth Savings Account (HSA) Bank Account Frequently Asked Questions & Answers As of October 2014
Health Savings Account (HSA) Bank Account Frequently Asked Questions & Answers As of October 2014 The following provides general information to help answer frequently asked questions about the Health Savings
More informationEMPLOYEE GUIDE. To Pre-Tax Savings. Dependent Care Reimbursement Account. Expense Worksheet
EMPLOYEE GUIDE To Pre-Tax Savings Flexible Benefit Flexible Plan Benefit Plan Dependent Care Reimbursement Account Medical Reimbursement Medical Reimbursement Account Account Expense Worksheet Flexible
More informationFlexible Spending Account Election of Reimbursement & Compensation Reduction Agreement
Flexible Spending Account Election of Reimbursement & Compensation Reduction Agreement Medical/Dental Expenses Dependent Care Expenses When you elect a TPA for your University Health Care Plan, that TPA
More informationKraft Foods Group, Inc. Retiree Medical and Prescription Plan Summary High Deductible Health Plan
General Provisions Deductible (eligible medical and prescription drug expenses apply to the deductible) Kraft Foods Group, Inc. Retiree Medical and Prescription Plan Summary Care can be obtained in-network
More informationHealth Savings Account (HSA)
Tax-Advantaged Accounts Health Savings Account (HSA) September 16, 2015 State of Tennessee, Higher Ed s University of TN and The Board of Regents Today s presentation will cover: Health Savings Account
More information2015 HSA Plan Quick Guide
2015 HSA Plan Quick Guide The HSA Plan consists of two parts that work together to give you more control over how you receive and pay for medical care and services, both now and in the future: the Health
More informationHealth Savings Accounts. l ower pre mi u m s ta x d e d u c t ion s grea t ben efits
Health Savings Accounts l ower pre mi u m s ta x d e d u c t ion s grea t ben efits I OWN A SMALL BUSINESS. Giving my employees great benefits is important to me. An HSA means I can help them look after
More informationHealth Savings Account FAQs
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
More informationFLEXIBLE SPENDING ACCOUNT (FSA) Plan Year 2015-16
FLEXIBLE SPENDING ACCOUNT (FSA) Plan Year 2015-16 Participation in Lenoir-Rhyne s Flexible Spending Account (FSA) enables you to pay for certain out-of-pocket medical, dental, prescription, vision, and
More informationFREQUENTLY ASKED QUESTIONS HEALTH SAVINGS ACCOUNTS
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
More informationLearn What s New. Aetna High Deductible Health Plan with Health Savings Account Quick Guide
Take Care Learn What s New Aetna High Deductible Health Plan with Health Savings Account Quick Guide The Aetna High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) is designed to give
More informationFlexible Spending Account (FSA)
Flexible Spending Account (FSA) Enrollment Guide More Choices For Managing Your Healthcare Dollars V2.1 110414 TB Peak1 Administration MemberCare Department Phone: 866.315.1777 Fax: 855.495.3669 membercare@mypeak1.com
More informationHealth Reimbursement Arrangement for Retired Staff. Of Battelle Memorial Institute. Plan Document and Summary Plan Description
Health Reimbursement Arrangement for Retired Staff Of Battelle Memorial Institute Plan Document and Summary Plan Description Table of Contents Important Information... 4 Purpose of the Plan... 5 Plan Effective
More informationEmployee Guide to Pre-Tax Savings
Employee Guide to Pre-Tax Savings Flexible Benefit Plan Information What is a Flexible Benefit Plan? What expenses qualify for reimbursement? Can I use funds I have set aside for dependent care to pay
More informationFlexible Spending Accounts are smart ways to pay and save
Flexible Spending Accounts are smart ways to pay and save The City of Memphis offers its active employees the opportunity to join the Flexible Spending Program (FSA). A FSA is a flexible way to help you
More information2015 Annual Enrollment Guide
YOUR BENEFITS 2015 Annual Enrollment Guide Enrollment Period October 22 November 4 Inside This Guide Key Dates October 22 November 4, 2014 Annual Enrollment period Changes for 2015...3 What You Need to
More informationTax-Advantaged Accounts Guide. Health Savings Accounts & Flexible Spending Accounts
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?
More informationFind out what a Health Savings Account can do for you. 2014 HSA Bank. HSA Bank is a Division of Webster Bank, N.A., Member FDIC.
Find out what a Health Savings Account can do for you. What is an HSA? A Health Savings Account, or HSA, is an individuallyowned account used to save and pay for qualified medical expenses. You ll earn
More informationAccount Based Health Plan with Health Savings Account Guide
Account Based Health Plan with Health Savings Account Guide Lead the way Page 1 2016 ABHP with HSA Guide You re in control with an Account-Based Health Plan Philips believes an Account Based Health Plan
More informationFrequently Asked Questions. High Deductible Health Plan (HDHP) with Health Savings Account (HSA)
Frequently Asked Questions High Deductible Health Plan (HDHP) with Health Savings Account (HSA) There are two components to the High Deductible Health Plan (HDHP) with HSA Medical Plan the HDHP Health
More informationHealth Savings Accounts. A tax-favored savings and investment account for your current and future health care needs
Health Savings Accounts A tax-favored savings and investment account for your current and future health care needs Saving for now A recent Fidelity Investments study reports that with no access to an employer-sponsored
More informationHealth Savings Account Frequently Asked Questions
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
More informationFlexible Spending Account enrollment guide
Flexible Spending Account enrollment guide Paying for health care is now easier and less expensive with a BenefitWallet FSA. 2014 Xerox HR Solutions, LLC. All rights reserved. What is a Flexible Spending
More informationHSA 101. A Quick Overview of Health Savings Account Basics
HSA 101 A Quick Overview of Health Savings Account Basics Agenda Health Savings Account Features HSA Eligibility Contributions Tax Information Distributions HSA-Qualified Expenses Paying for Medical Services
More informationHealth Savings Account HSA Summary
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
More informationFlexible Spending Accounts. What are they? How do they work? How can I enroll for 2014?
Flexible Spending Accounts What are they? How do they work? How can I enroll for 2014? BG 10-30-2014 Flexible Spending Account What is it? A Flexible Spending Account (FSA) lets you set aside pre-tax dollars
More informationHEALTH SAVINGS ACCOUNT Q&A
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
More informationExcellus How to make an HSA/FSA work for you. a Health Savings Account
Excellus How to make an HSA/FSA work for you. a Health Savings Account Agenda What is an HSA/FSA? How Do They Work? How Can You Maximize Your Dollars? WHAT IS AN HSA? What is an HSA? A tax-advantaged savings
More informationFlexible Spending Accounts
V. Flexible Spending Accounts Table of Contents About This Section...1 An Overview of the Flexible Spending Accounts...2 Tax Advantages...2 How Flexible Spending Accounts Work...2 Your Deposits Use It
More informationHealth Savings Account FAQs
General What s a health savings account (HSA)? An HSA is an interest-bearing savings account you fund either with before-tax paycheck deductions through WageWorks McKesson s HSA administrator or with tax-deductible
More informationWhat is the HRA VEBA?
Introductory Overview What is the HRA VEBA? A health reimbursement arrangement for public employees in the Northwest hraveba.org What is a health reimbursement arrangement? A health reimbursement arrangement
More informationWashington University 2015 Flex Spending
Washington University 2015 Flex Spending THE FOLLOWING APPLIES TO BOTH HEALTH CARE AND DEPENDENT SPENDING PLANS Employees must re-enroll in Flex Spending each year it is not automatically renewed. Current
More informationHealth Savings Accounts (HSA) A healthy way to save
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
More informationHealth Savings Account
County National Bank Health Savings Account SCHEDULE OF FEES INTEREST RA.TE Setup Fee Balance AER Monthly Fee $0.01 -$999.99 0.50%* Minimum Balance Required $0.00 Debit Card Debit Card Transactions $ 1,000-$4,999.99
More informationHealth Savings Account (HSA) Member Guide. 2014 Xerox HR Solutions, LLC. All rights reserved.
Health Savings Account (HSA) Member Guide 2014 Xerox HR Solutions, LLC. All rights reserved. Table of contents Welcome to the BenefitWallet HSA!... 3 What is a Health Savings Account (HSA)?...3 Your BenefitWallet
More informationYour Flexible Spending Account (FSA) Guide
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
More informationBlue Shield of California Consumer Directed Health Plan with Health Savings Account (CDHP with HSA) Frequently Asked Questions
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
More informationFrequently Asked Questions for HSAs (Health Savings Accounts)
Frequently Asked Questions for HSAs (Health Savings Accounts) (Rev July 2015) HOW A HEALTH SAVINGS ACCOUNT (HSA) WORKS Q: What is an HSA and how does it work? A: If you elect the PPO Plus HSA Plan (new
More informationUnderstanding Health Savings Accounts (HSAs) HSA Bank is a division of Webster Bank, N.A., Member FDIC.
Understanding Health Savings Accounts (HSAs) HSA Education What is an HSA? A tax-advantaged savings account that you use to pay for qualified medical expenses not covered by the HDHP, including deductibles,
More informationHealth Savings Account (HSA)
Tax-Advantaged Accounts Health Savings Account (HSA) September 8, 2015 State of Tennessee Local Education & Local Government Today s presentation will cover: Health Savings Account (HSA) Eligibility and
More informationHigh Deductible Health Plan (HDHP) with Health Savings Account (HSA) FREQUENTLY ASKED QUESTIONS
High Deductible Health Plan (HDHP) with Health Savings Account (HSA) FREQUENTLY ASKED QUESTIONS Part I HIGH DEDUCTIBLE HEALTH PLAN (HDHP) Q. What is the HDHP? A. The High Deductible Health Plan (HDHP)
More informationFLEXIBLE SPENDING ACCOUNT
FLEXIBLE SPENDING ACCOUNT Open a Flexible Spending Account To Save 25-40% on Healthcare and Dependent Daycare Expenses With a Flexible Spending Account (FSA), you pay for eligible expenses with tax-free
More informationBenefits Handbook Date May 1, 2010. Limited Purpose Health Care Flexible Spending Account MMC
Date May 1, 2010 Limited Purpose Health Care Flexible Spending Account MMC Limited Purpose Health Care Flexible Spending Account The Limited Purpose Health Care Flexible Spending Account allows you to
More informationElecting Pre-tax Dollars To Pay For Your Health Care Expenses
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
More informationMedical Reimbursement Account. How to Use Your Medical Reimbursement Account. San Francisco City Option Updated April 2016 www.sfcityoption.
Medical Reimbursement Account How to Use Your Medical Reimbursement Account San Francisco City Option Updated April 2016 www.sfcityoption.org Contents About this Handbook...1 What is a Medical Reimbursement
More informationHealth Flexible Spending Account Summary Plan Description
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
More informationPayFlex Health Savings Account (HSA) Frequently Asked Questions
OVERVIEW AND ELIGIBILITY REQUIREMENTS What is a Health Savings Account? A Health Savings Account ( HSA ) is a tax-advantaged healthcare account created for the purpose of saving and paying for qualified
More informationUnderstanding Health Savings Accounts (HSAs) HSA Bank is a division of Webster Bank, N.A., Member FDIC.
Understanding Health Savings Accounts (HSAs) What is an HSA? A tax-advantaged savings account that you use to pay for qualified medical expenses not covered by the CDHP, including deductibles, co-pays,
More informationFLEXIBLE BENEFITS PLAN
FLEXIBLE BENEFITS PLAN Medical, Dependent Care, Transportation and Parking Reimbursement It's your money... plan to keep it! Enrollment Deadline: Current Employees - Annual Enrollment/Transfer Period New
More informationOpen. Enrollment. Welcome to
Open Welcome to Enrollment 2 0 1 0 Open enrollment for active full-time employees and eligible part-time faculty will take place from October 1 through October 31, 2009. Because LACCD is joining the CalPERS
More informationHealth Savings Account/High Deductible Health Plan FAQs re: HSA plan offering
Health Savings Account/High Deductible Health Plan FAQs re: HSA plan offering 1. What services are considered preventive care? See the Open Enrollment website for a complete list of covered services. 2.
More information