Page 6 - 2018-19 APDerm Benefit Guide
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2018–19 BENEFITS ENROLLMENT
HSA Eligibility HEALTH SAVINGS
You may open and contribute ACCOUNT (HSA)
pre-tax to an HSA under the
following circumstances. Both medical plan options offered by APDerm are considered “qualified” high
Must be enrolled in an IRS deductible health plans, allowing plan participants to open and contribute to a
qualiied high deductible health savings account (HSA).
health plan (HDHP)
An HSA is a tax-favored savings account which works in conjunction with
Cannot be enrolled in a
traditional PPO plan through your health plan coverage. HSA dollars can be used to pay for qualified
your spouse or other medical expenses such as deductibles, copays, dental, and vision care.
employer sponsored plan For a complete list of qualified medical expenses visit www.irs.gov in IRS
options Publication 502.
Cannot be enrolled in a
government sponsored HSA Major Benefits
program (Medicare, Funds always belong to you
Medicaid, Tricare, etc.)
Funds always roll over from year to year
Cannot have received VA Lowers your taxable income
beneits within the last three
months (unless receiving HSA Triple Tax Savings
beneits for a service related
disability) Tax deduction when you contribute to your account
Tax-free earnings through investment
Cannot be claimed as a
dependent on someone Tax-free withdrawal for qualified medical expenses
else’s tax return
You may open an HSA through APDerm’s preferred HSA banking institution,
Cannot have an HSA and Optum Bank. See Human Resources for more information.
healthcare FSA; your spouse
cannot have a healthcare
FSA through his/her own 2018 HSA Funding Limits
employer Coverage Level Limit
Individual Coverage $3,450
Family Coverage $6,850
Age 55 or Older Contribute an additional $1,000 on
top of these amounts
6
HSA Eligibility HEALTH SAVINGS
You may open and contribute ACCOUNT (HSA)
pre-tax to an HSA under the
following circumstances. Both medical plan options offered by APDerm are considered “qualified” high
Must be enrolled in an IRS deductible health plans, allowing plan participants to open and contribute to a
qualiied high deductible health savings account (HSA).
health plan (HDHP)
An HSA is a tax-favored savings account which works in conjunction with
Cannot be enrolled in a
traditional PPO plan through your health plan coverage. HSA dollars can be used to pay for qualified
your spouse or other medical expenses such as deductibles, copays, dental, and vision care.
employer sponsored plan For a complete list of qualified medical expenses visit www.irs.gov in IRS
options Publication 502.
Cannot be enrolled in a
government sponsored HSA Major Benefits
program (Medicare, Funds always belong to you
Medicaid, Tricare, etc.)
Funds always roll over from year to year
Cannot have received VA Lowers your taxable income
beneits within the last three
months (unless receiving HSA Triple Tax Savings
beneits for a service related
disability) Tax deduction when you contribute to your account
Tax-free earnings through investment
Cannot be claimed as a
dependent on someone Tax-free withdrawal for qualified medical expenses
else’s tax return
You may open an HSA through APDerm’s preferred HSA banking institution,
Cannot have an HSA and Optum Bank. See Human Resources for more information.
healthcare FSA; your spouse
cannot have a healthcare
FSA through his/her own 2018 HSA Funding Limits
employer Coverage Level Limit
Individual Coverage $3,450
Family Coverage $6,850
Age 55 or Older Contribute an additional $1,000 on
top of these amounts
6
