Page 9 - Acadia 2022 Benefits Guide | DBI
P. 9
Discover My Acadia Health
Spending Accounts
Health Care Flexible Spending Acadia Adds Money To Your HSA!
Account (FSA) Beginning in 2022, Acadia will make a semi-annual contribution
A Health Care Flexible Spending Account (FSA) allows you to set to your HSA, if eligible, to help you pay your deductible, out-of-
aside a portion of your salary, before taxes, to pay for qualiied pocket healthcare costs, or save for the future. Acadia adds:
medical care expenses. Because that portion of your income
is not taxed, you end up with more money in your pocket. It y $250 for employee only coverage
($125 in January and $125 in July)
is designed to reimburse you for out-of-pocket health care
expenses incurred by you or your eligible dependents that are y $500 for family coverage
not reimbursable through any other beneit plan. Examples ($250 in January and $250 in July)
of eligible expenses are deductibles, copays, prescriptions, In order to receive the company contribution, you must enroll in
vision exams, prescription eyeglasses, dental expenses and the HSA.
many others. Many over the counter drugs are now an eligible
expense. Your full annual election amount for the Health FSA Benefits of HSA:
is available at any time during the plan year, regardless of how y You choose how much to set aside for health expenses up
much you have contributed to date. to IRS maximum. Employees enrolled in Medicare are not
eligible to contribute to an HSA.
y Annual Contribution minimum is $100
» $3,650 for single coverage annually
y Annual Contribution maximum is $2,750*
» $7,300 for family coverage annually
The IRS has a “use or lose” rule which states that you lose any
leftover balance in your account at the end of the plan year. y Reduces taxable income—deposits are taken out of your
paycheck before income tax is calculated and withdrawals
Dependent Care Flexible Spending for qualiied medical expenses are tax-free.
Account (DCA) y Grows with you—the money in the account is yours to invest
A Dependent Care Flexible Spending Account (DCA) is and the earnings are tax-free.
designed to set aside a portion of your salary, before taxes, to y Your HSA is portable even if you change jobs.
pay for dependent care for children up to age 13, a disabled y From age 55 until you enroll in Medicare, you can contribute
dependent of any age or a disabled spouse. To be eligible for an additional $1,000 annually.
this type of account, both you and your spouse (if applicable)
must work, be looking for work or be full-time students. At age 65 you can use your HSA funds however you choose. It is
Examples of eligible expenses are daycare, after school care and counted as income and taxed without penalty.
elder care. After you have incurred an eligible expense, you may
be reimbursed up to your contribution balance at the time of Limited Health Care Flexible Spending
the reimbursement request. Account (LFSA)
If you have a high deductible health plan (HDHP) along with
y Annual Contribution minimum is $100 a health savings account (HSA), you may use a Limited Health
y Annual Contribution maximum is $5,000 per household FSA to pay some out-of-pocket expenses until your annual
deductible is met. Limited FSA allows you to set aside a
Health Savings Account (HSA) portion of your salary, before taxes, to pay for qualiied vision,
To help offset the cost of medical expenses, you can pair dental and/or preventive care expenses. Examples of eligible
the HDHP medical plan with a Health Savings Account. This expenses are dental visits/treatment, eye exams, contact lenses,
provides you the opportunity to put pre-tax money aside eyeglasses, immunizations, and many others.
to help pay for your out-of-pocket medical expenses. This
combination gives you ultimate control over how you spend y Annual Contribution minimum is $100
your health care dollars. y Annual Contribution maximum is $2,750*
* The FSA contribution maximums are subject to change for 2022
2022 Employee Beneits Guide | 9
Spending Accounts
Health Care Flexible Spending Acadia Adds Money To Your HSA!
Account (FSA) Beginning in 2022, Acadia will make a semi-annual contribution
A Health Care Flexible Spending Account (FSA) allows you to set to your HSA, if eligible, to help you pay your deductible, out-of-
aside a portion of your salary, before taxes, to pay for qualiied pocket healthcare costs, or save for the future. Acadia adds:
medical care expenses. Because that portion of your income
is not taxed, you end up with more money in your pocket. It y $250 for employee only coverage
($125 in January and $125 in July)
is designed to reimburse you for out-of-pocket health care
expenses incurred by you or your eligible dependents that are y $500 for family coverage
not reimbursable through any other beneit plan. Examples ($250 in January and $250 in July)
of eligible expenses are deductibles, copays, prescriptions, In order to receive the company contribution, you must enroll in
vision exams, prescription eyeglasses, dental expenses and the HSA.
many others. Many over the counter drugs are now an eligible
expense. Your full annual election amount for the Health FSA Benefits of HSA:
is available at any time during the plan year, regardless of how y You choose how much to set aside for health expenses up
much you have contributed to date. to IRS maximum. Employees enrolled in Medicare are not
eligible to contribute to an HSA.
y Annual Contribution minimum is $100
» $3,650 for single coverage annually
y Annual Contribution maximum is $2,750*
» $7,300 for family coverage annually
The IRS has a “use or lose” rule which states that you lose any
leftover balance in your account at the end of the plan year. y Reduces taxable income—deposits are taken out of your
paycheck before income tax is calculated and withdrawals
Dependent Care Flexible Spending for qualiied medical expenses are tax-free.
Account (DCA) y Grows with you—the money in the account is yours to invest
A Dependent Care Flexible Spending Account (DCA) is and the earnings are tax-free.
designed to set aside a portion of your salary, before taxes, to y Your HSA is portable even if you change jobs.
pay for dependent care for children up to age 13, a disabled y From age 55 until you enroll in Medicare, you can contribute
dependent of any age or a disabled spouse. To be eligible for an additional $1,000 annually.
this type of account, both you and your spouse (if applicable)
must work, be looking for work or be full-time students. At age 65 you can use your HSA funds however you choose. It is
Examples of eligible expenses are daycare, after school care and counted as income and taxed without penalty.
elder care. After you have incurred an eligible expense, you may
be reimbursed up to your contribution balance at the time of Limited Health Care Flexible Spending
the reimbursement request. Account (LFSA)
If you have a high deductible health plan (HDHP) along with
y Annual Contribution minimum is $100 a health savings account (HSA), you may use a Limited Health
y Annual Contribution maximum is $5,000 per household FSA to pay some out-of-pocket expenses until your annual
deductible is met. Limited FSA allows you to set aside a
Health Savings Account (HSA) portion of your salary, before taxes, to pay for qualiied vision,
To help offset the cost of medical expenses, you can pair dental and/or preventive care expenses. Examples of eligible
the HDHP medical plan with a Health Savings Account. This expenses are dental visits/treatment, eye exams, contact lenses,
provides you the opportunity to put pre-tax money aside eyeglasses, immunizations, and many others.
to help pay for your out-of-pocket medical expenses. This
combination gives you ultimate control over how you spend y Annual Contribution minimum is $100
your health care dollars. y Annual Contribution maximum is $2,750*
* The FSA contribution maximums are subject to change for 2022
2022 Employee Beneits Guide | 9
