Page 9 - National General 2021 Annual Benefits Enrollment
P. 9
2021
www.mynatgenbenefits.com
Health Savings Accounts (HSAs)
A Pre-Tax Savings Vehicle To Offset Medical Expenses
HSAs through Bank of America (BOA) are a great way to save for medical expenses now and in the future.
If you elect the Basic or Enhanced High Deductible Health Plan, you are eligible for an HSA. A new HSA bank account
will be requested on your behalf with BOA if you are newly enrolling in a high deductible health plan.*
With an HSA You Can:
Contribute tax-free funds to pay for future health care MyHealth BofA is a mobile app to give you access to your HSA
expenses 24/7. You can make HSA transactions, file claims, view your
account balance and manage your HSA debit card. Download
Use the funds for qualifying out-of-pocket expenses the “MyHealth BofA” directly from the Apple App store or
now and in the future on a tax-free basis Google Play.
Enjoy tax-free balance growth
It’s yours for life whether you change jobs, health To help you save, National General
plans or retire will contribute to your HSA!
No “use-it-or-lose-it” rules – the balance rolls over Each quarter, as long as you remain eligible, National General
from year to year will contribute to your account.
Receive quarterly contributions from National General Over the course of the year, contributions will total:
Contribute up to $3,600 for employee only or $7,200 $500
for employee and family in 2021 for Employee-Only Coverage
* National General will request that BOA open an account on your behalf $1,000
(new enrollees) unless you indicate in the Workday enrollment election
process that you do not wish to open an account with BOA. An account for Employee and Spouse Coverage and
must be open to receive employer or employee contributions to the for Employee and Child(ren) Coverage
account.
$1,500
for Employee and Family Coverage
Quarterly contributions are equal to one fourth of the annual amount.
Deposits are made with the first pay period of each quarter.
For More Information
Call BOA 855.785.9946 or visit www.benefits.ml.com
9
www.mynatgenbenefits.com
Health Savings Accounts (HSAs)
A Pre-Tax Savings Vehicle To Offset Medical Expenses
HSAs through Bank of America (BOA) are a great way to save for medical expenses now and in the future.
If you elect the Basic or Enhanced High Deductible Health Plan, you are eligible for an HSA. A new HSA bank account
will be requested on your behalf with BOA if you are newly enrolling in a high deductible health plan.*
With an HSA You Can:
Contribute tax-free funds to pay for future health care MyHealth BofA is a mobile app to give you access to your HSA
expenses 24/7. You can make HSA transactions, file claims, view your
account balance and manage your HSA debit card. Download
Use the funds for qualifying out-of-pocket expenses the “MyHealth BofA” directly from the Apple App store or
now and in the future on a tax-free basis Google Play.
Enjoy tax-free balance growth
It’s yours for life whether you change jobs, health To help you save, National General
plans or retire will contribute to your HSA!
No “use-it-or-lose-it” rules – the balance rolls over Each quarter, as long as you remain eligible, National General
from year to year will contribute to your account.
Receive quarterly contributions from National General Over the course of the year, contributions will total:
Contribute up to $3,600 for employee only or $7,200 $500
for employee and family in 2021 for Employee-Only Coverage
* National General will request that BOA open an account on your behalf $1,000
(new enrollees) unless you indicate in the Workday enrollment election
process that you do not wish to open an account with BOA. An account for Employee and Spouse Coverage and
must be open to receive employer or employee contributions to the for Employee and Child(ren) Coverage
account.
$1,500
for Employee and Family Coverage
Quarterly contributions are equal to one fourth of the annual amount.
Deposits are made with the first pay period of each quarter.
For More Information
Call BOA 855.785.9946 or visit www.benefits.ml.com
9
