Page 9 - TVS 2022 Benefits Guide
P. 9
2022 Benefits Guide
Can Ineligible Expenses be Reimbursed Where Can I Find More Information
from an HSA? on HSAs?
Yes. Neither the trustee, bank, insurance company, This document is meant to serve as a high level
nor the employer are required to determine if a summary of HSAs. We encourage you to familiarize
claim submitted for reimbursement is a qualifying yourself with all of the rules and regulations
healthcare expense. pertaining to HSAs. Log on to your account through
www.paylex.com/products-and-services/
The amount withdrawn from an HSA for a non- health-savings-account for a more detailed
qualifying healthcare expense is added to the explanation.
account beneiciary’s income and subject to
income taxes and a 20% penalty. Where funds are
distributed as a result of the account beneiciary’s
death, disability, or after he or she is eligible for
Medicare, the 20% penalty does not apply.
Distributions made from an HSA to reimburse the
account beneiciary for qualiied healthcare expenses
are excluded from gross income.
Who Administers the HSA?
TVS SCS NA uses PayFlex to administer the HSA
accounts for those employees enrolled in the High
Deductible Health Plan. For more information, please
visit PayFlex’s website at www.paylex.com.
Members can access their HSA online through the
PayFlex member portal at www.paylex.com or
call the Customer Service number 844.PAYFLEX
(729.3539). Once you go to www.paylex.com click
“Create Your Proile.” Keep in mind, you’ll need your
PayFlex card and your account debit card to set up
your proile.
HSAs may not be the right solution for all
individuals. Please contact PayFlex for assistance in
determining whether a tax-advantaged account will
best meet your goals.
9
Can Ineligible Expenses be Reimbursed Where Can I Find More Information
from an HSA? on HSAs?
Yes. Neither the trustee, bank, insurance company, This document is meant to serve as a high level
nor the employer are required to determine if a summary of HSAs. We encourage you to familiarize
claim submitted for reimbursement is a qualifying yourself with all of the rules and regulations
healthcare expense. pertaining to HSAs. Log on to your account through
www.paylex.com/products-and-services/
The amount withdrawn from an HSA for a non- health-savings-account for a more detailed
qualifying healthcare expense is added to the explanation.
account beneiciary’s income and subject to
income taxes and a 20% penalty. Where funds are
distributed as a result of the account beneiciary’s
death, disability, or after he or she is eligible for
Medicare, the 20% penalty does not apply.
Distributions made from an HSA to reimburse the
account beneiciary for qualiied healthcare expenses
are excluded from gross income.
Who Administers the HSA?
TVS SCS NA uses PayFlex to administer the HSA
accounts for those employees enrolled in the High
Deductible Health Plan. For more information, please
visit PayFlex’s website at www.paylex.com.
Members can access their HSA online through the
PayFlex member portal at www.paylex.com or
call the Customer Service number 844.PAYFLEX
(729.3539). Once you go to www.paylex.com click
“Create Your Proile.” Keep in mind, you’ll need your
PayFlex card and your account debit card to set up
your proile.
HSAs may not be the right solution for all
individuals. Please contact PayFlex for assistance in
determining whether a tax-advantaged account will
best meet your goals.
9
