Page 10 - 2018 Carlstar Benefit Guide
P. 10
10 BENEFITS ENROLLMENT • 2018
Medical Plan Benefits
How the HSA Silver Plan Works
How You Pay for Coverage How You Use Your HSA Silver Account
You pay for a portion of coverage under the HSA X You determine how and when to use your
Silver plan through payroll contributions, with The HSA dollars. You can use your funds to pay for
Carlstar Group paying the majority of the cost. qualiied expenses covered by the Consumer
Driven Health Plan (CDHP). If you decide to
How to fund your HSA Silver Health use funds to pay for ineligible expenses, there will
Savings Account be a penalty, plus income tax payment. You can
You can set aside dollars on a pre-tax basis through also pay for health expenses out of pocket and let
payroll deduction. your HSA funds grow. Whatever annual amount
you elect to contribute (if any) will be divided by
How the Plan Provides Coverage the number of pay periods in the year, and will
X You pay for all medical and prescription drug be deducted from your pay stub and deposited
services up to the plan’s annual deductible. into your HSA.
X After you satisfy the annual deductible, you pay X Any funds remaining at the end of the year will
the appropriate coinsurance (20%) until you meet remain in your account for future use. If you
the annual out-of-pocket maximum. leave The Carlstar Group, you take your HSA
X The plan pays 100% of eligible expenses once funds with you.
you meet the annual out-of-pocket maximum., TIP: Always remember to keep your receipts! If the IRS audits
for the remainder of the calendar year. you to make sure you used your HSA for eligible expenses, you
will need to provide receipts in order to avoid paying the penalty.
The IRS mandates maximum contribution limits to HSAs annually. The 2018 contribution limits are below.
X $3,450 for an individual X $6,900 for a family X If you are age 55 or older you are eligible for an
additional catch-up contribution of $1,000 annually
HSA Eligibility
X You must be enrolled in a qualiied high X Cannot have received VA beneits within the last
deductible health plan (HDHP) 3 months (unless receiving beneits for a service
related disability)
X You cannot be enrolled in any government
sponsored program (medicare, medicaid, X Cannot have an HSA and a Healthcare FSA at the
TRICARE, etc.) same time; your spouse cannot have a Healthcare
FSA while you actively contribute to an HSA
X Cannot have been claimed as a dependent on
someone else’s tax return
Medical Plan Benefits
How the HSA Silver Plan Works
How You Pay for Coverage How You Use Your HSA Silver Account
You pay for a portion of coverage under the HSA X You determine how and when to use your
Silver plan through payroll contributions, with The HSA dollars. You can use your funds to pay for
Carlstar Group paying the majority of the cost. qualiied expenses covered by the Consumer
Driven Health Plan (CDHP). If you decide to
How to fund your HSA Silver Health use funds to pay for ineligible expenses, there will
Savings Account be a penalty, plus income tax payment. You can
You can set aside dollars on a pre-tax basis through also pay for health expenses out of pocket and let
payroll deduction. your HSA funds grow. Whatever annual amount
you elect to contribute (if any) will be divided by
How the Plan Provides Coverage the number of pay periods in the year, and will
X You pay for all medical and prescription drug be deducted from your pay stub and deposited
services up to the plan’s annual deductible. into your HSA.
X After you satisfy the annual deductible, you pay X Any funds remaining at the end of the year will
the appropriate coinsurance (20%) until you meet remain in your account for future use. If you
the annual out-of-pocket maximum. leave The Carlstar Group, you take your HSA
X The plan pays 100% of eligible expenses once funds with you.
you meet the annual out-of-pocket maximum., TIP: Always remember to keep your receipts! If the IRS audits
for the remainder of the calendar year. you to make sure you used your HSA for eligible expenses, you
will need to provide receipts in order to avoid paying the penalty.
The IRS mandates maximum contribution limits to HSAs annually. The 2018 contribution limits are below.
X $3,450 for an individual X $6,900 for a family X If you are age 55 or older you are eligible for an
additional catch-up contribution of $1,000 annually
HSA Eligibility
X You must be enrolled in a qualiied high X Cannot have received VA beneits within the last
deductible health plan (HDHP) 3 months (unless receiving beneits for a service
related disability)
X You cannot be enrolled in any government
sponsored program (medicare, medicaid, X Cannot have an HSA and a Healthcare FSA at the
TRICARE, etc.) same time; your spouse cannot have a Healthcare
FSA while you actively contribute to an HSA
X Cannot have been claimed as a dependent on
someone else’s tax return
