Page 2 - 2017 FutureSteps
P. 2
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Even if you don't cover your family members on our Future Steps plan, you
can use your HSA to pay for their eligible expenses.
The Future Steps plan’s premiums are less expensive in your paycheck.
Why not put those premium dollars saved toward your HSA and kick-start
your tax-free savings?
W&T Offshore is contributing $1,500 into your HSA in 2017, which
$375 will be deposited into your automatically lowers your deductible responsibility. The money will belong
HSA at the start of each quarter to you, even if you leave or retire from W&T Offshore; you can use it right
(January, April, July, and October) away or save it for the future.
for a total of $1,500 into your HSA
by the end of the year. All employees are eligible to participate in the medical plan. You are eligible to
open and fund an HSA if:
You are covered by an HSA eligible plan on the irst day of the month
You are not covered by any other non-HSA-compatible health plan,
including Medicare Part A and B
You are not covered by your spouse’s health plan or FSA
You are not covered by TRICARE, or TRICARE for Life
You have not accessed VA medical beneits in the past 90 days (to
contribute to an HSA)
You are not eligible to be claimed as a dependent on someone else’s tax
return (unless it’s your spouse).
Note: If you are not eligible to participate in the HSA, there will be an alternative program available
to you. There will be a meeting for those who fall into this category. Please call or email us for
details.
Did You Know?
Employees can contribute pre-tax savings from their paycheck directly into their
HSA each pay period. What a convenient way to save!
Contribute up to the IRS maximum each year and pay for healthcare tax-free.
2017 Contribution Limits
Individuals—$1,900 from you and $1,500 from W&T Offshore
Families—$5,250 from you and $1,500 from W&T Offshore
Catch Up Contributions
If you are an eligible individual who is age 55 or older at the end of your tax year,
your contribution limit is increased by $1,000. Eligibility includes: Health Savings
accountholder; age 55 or older (regardless of when in the year an accountholder
turns 55); not enrolled in Medicare (if an accountholder enrolls in Medicare mid-
year, catch-up contributions should be prorated). Authorized signers who are 55
or older must have their own HSA in order to make the catch-up contribution.
© 2016 Lockton, Inc. All rights reserved.
[Rev 10/10/16] ] EB\W&T08\EE Comm\Flyers\201\Overview of Plan V2 6021.pdf
Even if you don't cover your family members on our Future Steps plan, you
can use your HSA to pay for their eligible expenses.
The Future Steps plan’s premiums are less expensive in your paycheck.
Why not put those premium dollars saved toward your HSA and kick-start
your tax-free savings?
W&T Offshore is contributing $1,500 into your HSA in 2017, which
$375 will be deposited into your automatically lowers your deductible responsibility. The money will belong
HSA at the start of each quarter to you, even if you leave or retire from W&T Offshore; you can use it right
(January, April, July, and October) away or save it for the future.
for a total of $1,500 into your HSA
by the end of the year. All employees are eligible to participate in the medical plan. You are eligible to
open and fund an HSA if:
You are covered by an HSA eligible plan on the irst day of the month
You are not covered by any other non-HSA-compatible health plan,
including Medicare Part A and B
You are not covered by your spouse’s health plan or FSA
You are not covered by TRICARE, or TRICARE for Life
You have not accessed VA medical beneits in the past 90 days (to
contribute to an HSA)
You are not eligible to be claimed as a dependent on someone else’s tax
return (unless it’s your spouse).
Note: If you are not eligible to participate in the HSA, there will be an alternative program available
to you. There will be a meeting for those who fall into this category. Please call or email us for
details.
Did You Know?
Employees can contribute pre-tax savings from their paycheck directly into their
HSA each pay period. What a convenient way to save!
Contribute up to the IRS maximum each year and pay for healthcare tax-free.
2017 Contribution Limits
Individuals—$1,900 from you and $1,500 from W&T Offshore
Families—$5,250 from you and $1,500 from W&T Offshore
Catch Up Contributions
If you are an eligible individual who is age 55 or older at the end of your tax year,
your contribution limit is increased by $1,000. Eligibility includes: Health Savings
accountholder; age 55 or older (regardless of when in the year an accountholder
turns 55); not enrolled in Medicare (if an accountholder enrolls in Medicare mid-
year, catch-up contributions should be prorated). Authorized signers who are 55
or older must have their own HSA in order to make the catch-up contribution.
© 2016 Lockton, Inc. All rights reserved.
[Rev 10/10/16] ] EB\W&T08\EE Comm\Flyers\201\Overview of Plan V2 6021.pdf
