Page 16 - Apricity Benefits Guide
P. 16
2020
Apricity Benefits Overview
YOUR QUICK GUIDE TO SAVINGS AND
SPENDING ACCOUNTS
The chart below is a comparison of the different tax-advantaged spending accounts offered to
you. Should you have any questions or need more information on any of the accounts below,
please visit www.myAPRBeneits.com.
SAVINGS AND SPENDING ACCOUNTS COMPARISON
Limited Purpose Health
Health Savings Account Traditional Health Care Care Flexible Spending Dependent Care Flexible
Flexible Spending
(HSA) Account (FSA) Account (FSA) Spending Account (FSA)
Eligibility You must be a full-time You must be a full-time You must be a full-time You must be a full-time
Requirements employee who works a employee who works a employee who works a employee who works a
minimum of 40 hours per minimum of 40 hours per minimum of 40 hours per minimum of 40 hours per
week and are enrolled in week and cannot be week and are enrolled in week. You may enroll
the HSA Plan. enrolled in the HSA Plan the HSA Plan. in this FSA regardless of
or any HSA. which medical plan you
choose.
Eligible Use this beneit to pay for Use this beneit to pay Use this beneit to pay Use this beneit to pay for
Expenses qualifying out-of-pocket for qualifying out-of- for qualifying dental and qualifying child daycare
health care expenses pocket health care vision expenses only. or adult eldercare
such as deductibles, expenses such as expenses.
copays, prescriptions, deductibles, copays,
glasses/contacts, prescriptions, glasses/
for yourself and your contacts, for yourself
dependents. and your dependents.
Contribution You may contribute up You may contribute You may contribute You may contribute
Limit to $3,550 for employee between $250 and between $250 and between $250 and
only coverage and $2,750 in 2020.* $2,750 in 2020.* $5,000 ($2,500 if married
up to $7,100 for family and iling a separate
coverage in 2020. If you income tax return) in
are age 55 or older, 2020.*
you may contribute an
additional catch-up
contribution of $1,000.
Changing You can change how Contribution amounts Contribution amounts Contribution amounts
Contribution much you contribute to can be adjusted only can be adjusted only can be adjusted only
Amounts the account at any point during the annual during the annual during the annual
during the year. beneits enrollment beneits enrollment beneits enrollment
period or with a change period or with a change period or with a change
in employment or family in employment or family in employment or family
status (“Qualifying Life status (“Qualifying Life status (“Qualifying Life
Event”). Event”). Event”).
When Can Expenses can be You may incur expenses You may incur expenses You may incur expenses
Expenses be incurred any time after between January 1, between January 1, between January 1,
Incurred? you have established 2020, and December 2020, and December 31, 2020, and March 15,
your HSA and have 31, 2020. 2020. 2021.
begun to fund it.
* These limits are subject to change. Visit IRS.gov for more information.
Table of Contents Your Quick Guide to Savings and Group Auto and Home Insurance .33
About Your Beneits Program. . . . . . .2 Spending Accounts .............16 Group Legal Services ............33
Beneits Basics ...................3 Dental Beneits .................18 Employee Assistance Program ....34
Medical/Prescription Drugs Beneits . 6 Dental Plan Summary ............20 Medicare Part D Creditable
Comparing Medical Plan Options ..7 Vision Beneits ..................21 Coverage Notice ...............35
First Stop Health ................11 Voluntary Disability Insurance .....22 Premium Assistance Under Medicaid
Medical Plan Summary ..........12 Life and AD&D Insurance ........25 and the Children’s Health Insurance
Program (CHIP) .................42
Pharmacy Plan Summary .........13 Voluntary Accident Insurance ....29 Contact Information .............46 16
Flexible Spending Accounts ......14 Voluntary Critical Illness Insurance . 31
Apricity Benefits Overview
YOUR QUICK GUIDE TO SAVINGS AND
SPENDING ACCOUNTS
The chart below is a comparison of the different tax-advantaged spending accounts offered to
you. Should you have any questions or need more information on any of the accounts below,
please visit www.myAPRBeneits.com.
SAVINGS AND SPENDING ACCOUNTS COMPARISON
Limited Purpose Health
Health Savings Account Traditional Health Care Care Flexible Spending Dependent Care Flexible
Flexible Spending
(HSA) Account (FSA) Account (FSA) Spending Account (FSA)
Eligibility You must be a full-time You must be a full-time You must be a full-time You must be a full-time
Requirements employee who works a employee who works a employee who works a employee who works a
minimum of 40 hours per minimum of 40 hours per minimum of 40 hours per minimum of 40 hours per
week and are enrolled in week and cannot be week and are enrolled in week. You may enroll
the HSA Plan. enrolled in the HSA Plan the HSA Plan. in this FSA regardless of
or any HSA. which medical plan you
choose.
Eligible Use this beneit to pay for Use this beneit to pay Use this beneit to pay Use this beneit to pay for
Expenses qualifying out-of-pocket for qualifying out-of- for qualifying dental and qualifying child daycare
health care expenses pocket health care vision expenses only. or adult eldercare
such as deductibles, expenses such as expenses.
copays, prescriptions, deductibles, copays,
glasses/contacts, prescriptions, glasses/
for yourself and your contacts, for yourself
dependents. and your dependents.
Contribution You may contribute up You may contribute You may contribute You may contribute
Limit to $3,550 for employee between $250 and between $250 and between $250 and
only coverage and $2,750 in 2020.* $2,750 in 2020.* $5,000 ($2,500 if married
up to $7,100 for family and iling a separate
coverage in 2020. If you income tax return) in
are age 55 or older, 2020.*
you may contribute an
additional catch-up
contribution of $1,000.
Changing You can change how Contribution amounts Contribution amounts Contribution amounts
Contribution much you contribute to can be adjusted only can be adjusted only can be adjusted only
Amounts the account at any point during the annual during the annual during the annual
during the year. beneits enrollment beneits enrollment beneits enrollment
period or with a change period or with a change period or with a change
in employment or family in employment or family in employment or family
status (“Qualifying Life status (“Qualifying Life status (“Qualifying Life
Event”). Event”). Event”).
When Can Expenses can be You may incur expenses You may incur expenses You may incur expenses
Expenses be incurred any time after between January 1, between January 1, between January 1,
Incurred? you have established 2020, and December 2020, and December 31, 2020, and March 15,
your HSA and have 31, 2020. 2020. 2021.
begun to fund it.
* These limits are subject to change. Visit IRS.gov for more information.
Table of Contents Your Quick Guide to Savings and Group Auto and Home Insurance .33
About Your Beneits Program. . . . . . .2 Spending Accounts .............16 Group Legal Services ............33
Beneits Basics ...................3 Dental Beneits .................18 Employee Assistance Program ....34
Medical/Prescription Drugs Beneits . 6 Dental Plan Summary ............20 Medicare Part D Creditable
Comparing Medical Plan Options ..7 Vision Beneits ..................21 Coverage Notice ...............35
First Stop Health ................11 Voluntary Disability Insurance .....22 Premium Assistance Under Medicaid
Medical Plan Summary ..........12 Life and AD&D Insurance ........25 and the Children’s Health Insurance
Program (CHIP) .................42
Pharmacy Plan Summary .........13 Voluntary Accident Insurance ....29 Contact Information .............46 16
Flexible Spending Accounts ......14 Voluntary Critical Illness Insurance . 31
