Page 7 - Union Guide

7

How the HRA Works

When You Have Once Your HRA Once You Meet Once You Meet
a Healthcare Account is Your Deductible The Out-of-Pocket
Expense Depleted You pay a Maximum
You are responsible You are responsible small portion of Nortek pays
for copays. Any for paying your your expenses 100 percent of your
deductible and portion of the (coinsurance) till remaining covered
coinsurance deductible amount. you meet the out-of- medical expenses for
expenses are taken pocket maximum. the year.
out of the funds
available in the HRA
account irst.

Any Leftover Money in Your HRA
at the End of the Year
Automatically rolls over to the next year.
How the HSA Works

When You Have Whether You Once you meet Once You Meet
a Healthcare Use Your HSA your deductible The Out-of-
Expense Account or Pay You pay a Pocket Max
You decide whether to Out-of-Pocket small portion of Nortek pays
use your HSA funds You are responsible your expenses 100 percent of your
with your OptumBank for paying the (coinsurance) till remaining covered
debit card or pay out- deductible. you meet the out-of- medical expenses
of-pocket. pocket maximum. for the year.

Any Leftover Want to Pay Your Deductible Tax-
Money in Your Free?
HSA at the End of Make pre-tax contributions to your HSA. If
the Year you don’t spend this money, it stays in your
Automatically rolls account and earns interest.
over to the next year. You own the account and the money is yours

to keep if you leave or retire.

2016 Open Enrollment