Page 10 - 2017 Benefits Enrollment
P. 10
Sulzer 2017 Matching HSA HSA
Funding Limits
HDHP HDHP What is a Health Savings Account (HSA)?
2000* 3000*
EE Only $450 $750 If you enroll in the HDHP 2000 or 3000 plan, Sulzer will match every dollar you
EE + Spouse $1,200 $2,400 contribute to your HSA to the limits shown in the table to the left.
EE + Child(ren) $1,200 $2,400
EE + Family $1,200 $2,400
An HSA is a tax-favored savings account which works in conjunction with your
* Prorated based on the number of health plan coverage. HSA dollars can be used to pay for qualiied medical expenses
months remaining in the calendar year
following your enrollment date. such as deductibles, copays, dental, and vision care. For a complete list of qualiied
medical expenses visit www.irs.gov to view IRS Publication 502.
HSA Major Benefits HSA Triple Tax Savings
HSA Eligibility X X
You may open and contribute Funds always belong to you Tax deduction when you contribute
pre-tax to an HSA under the X Funds always roll over to use the to your account
following circumstances. following year X Tax-free earnings through investment
X Enrolled in an IRS qualified
high deductible health plan X Lowers your taxable income X Tax-free withdrawal for qualiied
(HDHP) medical expenses
X Cannot be enrolled in
a traditional PPO plan You may open an HSA through Fidelity. See a member of your Human Resources
through your spouse or
other employer sponsored team for more information.
plan options
X Cannot be enrolled in a 2017 HSA Funding Limits
Government sponsored Coverage Level Limit
program (Medicare, Individual Coverage $3,400
Medicaid, Tricare, etc.) Family Coverage $6,750
X Cannot have received VA Age 55 or Older Contribute an additional $1,000 on top of these amounts
benefits within the last
three months (unless
receiving benefits for a Newly Hired Employees—Contribution Limits
service related disability)
X Cannot be claimed as a The limits illustrated are for enrollment in the HSA for the full calendar year. If you
dependent on someone enroll mid-year, you may need to pro-rate your personal contribution limit to the
else’s tax return
X Cannot have an HSA and number of months you were enrolled in an HDHP. If you are enrolled through the
healthcare FSA; your entire next calendar year, there is no need to pro-rate.
spouse cannot have a
healthcare FSA through To pro-rate, take the total allowed annual contribution based on your coverage level,
his/her own employer
multiply it by the number of months in the year you qualify, then divide the amount
by 12. For example, you enroll in the HSA on April 1, your annual contribution limit
is: $3,400 × 9 ÷ 12 = $2,550.
Sulzer
10
Funding Limits
HDHP HDHP What is a Health Savings Account (HSA)?
2000* 3000*
EE Only $450 $750 If you enroll in the HDHP 2000 or 3000 plan, Sulzer will match every dollar you
EE + Spouse $1,200 $2,400 contribute to your HSA to the limits shown in the table to the left.
EE + Child(ren) $1,200 $2,400
EE + Family $1,200 $2,400
An HSA is a tax-favored savings account which works in conjunction with your
* Prorated based on the number of health plan coverage. HSA dollars can be used to pay for qualiied medical expenses
months remaining in the calendar year
following your enrollment date. such as deductibles, copays, dental, and vision care. For a complete list of qualiied
medical expenses visit www.irs.gov to view IRS Publication 502.
HSA Major Benefits HSA Triple Tax Savings
HSA Eligibility X X
You may open and contribute Funds always belong to you Tax deduction when you contribute
pre-tax to an HSA under the X Funds always roll over to use the to your account
following circumstances. following year X Tax-free earnings through investment
X Enrolled in an IRS qualified
high deductible health plan X Lowers your taxable income X Tax-free withdrawal for qualiied
(HDHP) medical expenses
X Cannot be enrolled in
a traditional PPO plan You may open an HSA through Fidelity. See a member of your Human Resources
through your spouse or
other employer sponsored team for more information.
plan options
X Cannot be enrolled in a 2017 HSA Funding Limits
Government sponsored Coverage Level Limit
program (Medicare, Individual Coverage $3,400
Medicaid, Tricare, etc.) Family Coverage $6,750
X Cannot have received VA Age 55 or Older Contribute an additional $1,000 on top of these amounts
benefits within the last
three months (unless
receiving benefits for a Newly Hired Employees—Contribution Limits
service related disability)
X Cannot be claimed as a The limits illustrated are for enrollment in the HSA for the full calendar year. If you
dependent on someone enroll mid-year, you may need to pro-rate your personal contribution limit to the
else’s tax return
X Cannot have an HSA and number of months you were enrolled in an HDHP. If you are enrolled through the
healthcare FSA; your entire next calendar year, there is no need to pro-rate.
spouse cannot have a
healthcare FSA through To pro-rate, take the total allowed annual contribution based on your coverage level,
his/her own employer
multiply it by the number of months in the year you qualify, then divide the amount
by 12. For example, you enroll in the HSA on April 1, your annual contribution limit
is: $3,400 × 9 ÷ 12 = $2,550.
Sulzer
10
