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Health Savings Some examples of qualiied expenses which are not covered in full by your HDHP
Account (HSA) include the following.
Employees who enroll in the X Payment toward your deductible
High Deductible Health Plan X Payment toward your coinsurance
are eligible to open a Health
Savings Account (HSA) X Payment for prescription drugs
through Optum Health Bank, a X Payment for your dependents’ eligible expenses (even if they aren’t enrolled)
UnitedHealthcare company. An You can explore a comprehensive list of the eligible expenses at www.irs.gov in
HSA is an individually owned Section 213(d) of the IRS tax code. If you decide to pay for ineligible expenses with
bank account to which you can your HSA, there will be a 20 percent penalty, plus income tax payment on those
contribute pre-tax dollars, net of expenses.
income tax, and pay for qualiied
medical, dental and vision With our HSA plan, you will have more lexibility over how you spend your
expenses. The contributions to healthcare dollars. You own your HSA and you control when and how you spend
this account are not only tax- those funds so long as they are spent on qualiied expenses. With the HSA, there is
free when you put the money in, no “use it or lose it” provision. The funds in the account are yours and any money
but are also tax-free when you left at year-end rolls over to the next. You can even take these funds with you if you
take the money out for qualiied leave the company. HSA contributions are subject to the following annual IRS limits.
expenses. You will use your
Optum Health HSA Debit Card Coverage Level 2017 Annual IRS HSA Limits
to pay for these expenses. Individual (cover just yourself on the plan) $3,400
Family (cover yourself and any other family $6,750
members)
Age 55 or older? Eligible to contribute an additional $1,000
annually on top of these amounts
Unfortunately You Cannot Participate in an HSA If:
X You have other coverage which is not a qualiied high deductible plan. For
example, you may not open an HSA if you are enrolled in the Traditional Plan.
X You are enrolled in Medicare/Medicaid/TRICARE
X You are claimed as a dependent on a person’s tax return
X You received VA medical beneits within three months prior to opening
X You contribute to or have a balance remaining in a traditional Healthcare
FSA
6 Electric Power Systems
Account (HSA) include the following.
Employees who enroll in the X Payment toward your deductible
High Deductible Health Plan X Payment toward your coinsurance
are eligible to open a Health
Savings Account (HSA) X Payment for prescription drugs
through Optum Health Bank, a X Payment for your dependents’ eligible expenses (even if they aren’t enrolled)
UnitedHealthcare company. An You can explore a comprehensive list of the eligible expenses at www.irs.gov in
HSA is an individually owned Section 213(d) of the IRS tax code. If you decide to pay for ineligible expenses with
bank account to which you can your HSA, there will be a 20 percent penalty, plus income tax payment on those
contribute pre-tax dollars, net of expenses.
income tax, and pay for qualiied
medical, dental and vision With our HSA plan, you will have more lexibility over how you spend your
expenses. The contributions to healthcare dollars. You own your HSA and you control when and how you spend
this account are not only tax- those funds so long as they are spent on qualiied expenses. With the HSA, there is
free when you put the money in, no “use it or lose it” provision. The funds in the account are yours and any money
but are also tax-free when you left at year-end rolls over to the next. You can even take these funds with you if you
take the money out for qualiied leave the company. HSA contributions are subject to the following annual IRS limits.
expenses. You will use your
Optum Health HSA Debit Card Coverage Level 2017 Annual IRS HSA Limits
to pay for these expenses. Individual (cover just yourself on the plan) $3,400
Family (cover yourself and any other family $6,750
members)
Age 55 or older? Eligible to contribute an additional $1,000
annually on top of these amounts
Unfortunately You Cannot Participate in an HSA If:
X You have other coverage which is not a qualiied high deductible plan. For
example, you may not open an HSA if you are enrolled in the Traditional Plan.
X You are enrolled in Medicare/Medicaid/TRICARE
X You are claimed as a dependent on a person’s tax return
X You received VA medical beneits within three months prior to opening
X You contribute to or have a balance remaining in a traditional Healthcare
FSA
6 Electric Power Systems
