Page 8 - 2017-18 Optimas Benefits Guide
P. 8
Health Savings Account (HSA)
Both medical plans allow you HSA Major Benefits
to establish an HSA. An HSA Funds always belong to you even if you retire or leave the company
is a tax-favored savings account Funds always roll over to use the following year
which works in conjunction with
your health plan coverage. HSA Lowers your taxable income
dollars can be used to pay for HSA Triple Tax Savings
qualiied medical expenses such Tax deduction when you contribute to your account
as deductibles, copays, dental, and Tax-free earnings through investment
vision care. For a complete list of
qualiied medical expenses visit Tax-free withdrawal for qualiied medical expenses
www.irs.gov in IRS Publication The IRS regulates how much you can contribute to your HSA each year.
502.
Annual HSA Funding Limits
Optum Bank will open your HSA 2017
account and send a welcome kit Individual $3,400
with your Optum Bank HSA debit Family $6,750
card. You will be contacted if any Age 55 or Older Contribute an additional $1,000 on top of these amounts
questions arise while opening your
account. You must respond to any You have the ability to adjust your HSA contribution at any time by
requests to open your account. logging into ADP/WFN and requesting a change. The change will be
effective within 1–2 pay periods following the request.
If you have questions regarding
HSAs, you can contact Optimas Annual HSA Contribution
UnitedHealthcare/Optum Bank by If you contribute to the HSA in 2017–2018 plan year, Optimas will
calling 866.234.8913 and providing match employee contributions dollar for dollar up to $500. Matching will
group number 905032. Registered be deposited into your HSA at the end of the plan year. You must be
users with UHC can also log employed at time of matching to receive.
into www.myuhc.com and access
account information by clicking on
the “Claims and Accounts” tab.
HSA
Reimbursement
Please keep in mind you may only
use your HSA funds to reimburse
yourself for eligible expenses
incurred after your HSA account is
opened.
8 2017–18 Benefits Enrollment
Both medical plans allow you HSA Major Benefits
to establish an HSA. An HSA Funds always belong to you even if you retire or leave the company
is a tax-favored savings account Funds always roll over to use the following year
which works in conjunction with
your health plan coverage. HSA Lowers your taxable income
dollars can be used to pay for HSA Triple Tax Savings
qualiied medical expenses such Tax deduction when you contribute to your account
as deductibles, copays, dental, and Tax-free earnings through investment
vision care. For a complete list of
qualiied medical expenses visit Tax-free withdrawal for qualiied medical expenses
www.irs.gov in IRS Publication The IRS regulates how much you can contribute to your HSA each year.
502.
Annual HSA Funding Limits
Optum Bank will open your HSA 2017
account and send a welcome kit Individual $3,400
with your Optum Bank HSA debit Family $6,750
card. You will be contacted if any Age 55 or Older Contribute an additional $1,000 on top of these amounts
questions arise while opening your
account. You must respond to any You have the ability to adjust your HSA contribution at any time by
requests to open your account. logging into ADP/WFN and requesting a change. The change will be
effective within 1–2 pay periods following the request.
If you have questions regarding
HSAs, you can contact Optimas Annual HSA Contribution
UnitedHealthcare/Optum Bank by If you contribute to the HSA in 2017–2018 plan year, Optimas will
calling 866.234.8913 and providing match employee contributions dollar for dollar up to $500. Matching will
group number 905032. Registered be deposited into your HSA at the end of the plan year. You must be
users with UHC can also log employed at time of matching to receive.
into www.myuhc.com and access
account information by clicking on
the “Claims and Accounts” tab.
HSA
Reimbursement
Please keep in mind you may only
use your HSA funds to reimburse
yourself for eligible expenses
incurred after your HSA account is
opened.
8 2017–18 Benefits Enrollment
