Page 6 - 2020 HEICO Enrollment
P. 6
HEALTH SAVINGS ACCOUNT
BenefitWallet
When you enroll in the Heico medical plan, you are eligible to participate
in a Health Savings Account (HSA) as well as receive the employer
annual funding. These amounts are highlighted in the tables on the next
page. Employees do not have to contribute to the Health Savings Account
to receive the employer funding. You must open the account within 31
days to receive the employer funding.
In 2020, Individuals are eligible to contribute $3,550 to their HSA
accounts. If more than one person is enrolled, employees may
contribute up to $7,100 to their HSA account. These amounts
include the employer funding.
Anybody who is age 55 or older is eligible to contribute an extra
$1,000 into their HSA account.
Any money left in your HSA account at the end of the year rolls over
to the following year.
An HSA is an employee-owned, tax-deferred bank account.
An HSA puts you in control to shop around for care which is based
on quality and cost.
You can contribute pre-tax dollars into an HSA and funds accumulate
tax-free.
HSA funds are yours to keep (or invest!) even if you leave
the company.
HSA accounts are portable and pass on to your beneiciaries at death.
Note: You must OPEN your HSA account within 31 days of being
eligible for medical coverage to receive the employer funding.
Please see the pro-rated employer contribution schedule on the next
page. For more information, visit www.mybeneitwallet.com or call
customer service at 877.472.4200.
It is possible the money in the HSA may be enough to cover all your
costs for the year . This means you would pay nothing out of pocket .
Important
If you need to order additional Beneit Wallet HSA cards or a checkbook please
contact customer service at 877 .472 .4200 .
6
BenefitWallet
When you enroll in the Heico medical plan, you are eligible to participate
in a Health Savings Account (HSA) as well as receive the employer
annual funding. These amounts are highlighted in the tables on the next
page. Employees do not have to contribute to the Health Savings Account
to receive the employer funding. You must open the account within 31
days to receive the employer funding.
In 2020, Individuals are eligible to contribute $3,550 to their HSA
accounts. If more than one person is enrolled, employees may
contribute up to $7,100 to their HSA account. These amounts
include the employer funding.
Anybody who is age 55 or older is eligible to contribute an extra
$1,000 into their HSA account.
Any money left in your HSA account at the end of the year rolls over
to the following year.
An HSA is an employee-owned, tax-deferred bank account.
An HSA puts you in control to shop around for care which is based
on quality and cost.
You can contribute pre-tax dollars into an HSA and funds accumulate
tax-free.
HSA funds are yours to keep (or invest!) even if you leave
the company.
HSA accounts are portable and pass on to your beneiciaries at death.
Note: You must OPEN your HSA account within 31 days of being
eligible for medical coverage to receive the employer funding.
Please see the pro-rated employer contribution schedule on the next
page. For more information, visit www.mybeneitwallet.com or call
customer service at 877.472.4200.
It is possible the money in the HSA may be enough to cover all your
costs for the year . This means you would pay nothing out of pocket .
Important
If you need to order additional Beneit Wallet HSA cards or a checkbook please
contact customer service at 877 .472 .4200 .
6
