Page 6 - Cytokinetics 2022 Benefits Guide

Savings accounts

Cytokinetics offers several accounts that enable you to pay for eligible expenses tax-favored. The IRS provides a list of eligible
expenses for each account at www.irs.gov.

Health Savings Health Care Flexible Dependent Care Flexible
Account (HSA) Spending Accounts (FSAs) Spending Account (FSA)
Available to those enrolled in the Your options depend on your medical Use for eligible childcare expenses for
High Deductible HSA Plan as long plan enrollment. dependents under age 13 or eldercare.
as you are not enrolled in any • Health Care FSA – If you are not
other health coverage or Medicare, enrolled in an HSA Plan, you can use
or claimed as a dependent on this account for medical, pharmacy,
someone else’s tax return. dental and vision expenses.
• Limited Purpose FSA – If you are
enrolled in the High Deductible Health
Plan and establish a Health Savings
Account (HSA), you can only enroll in a
Limited Purpose FSA for all expenses
that are not reimbursed through the HSA
(e.g., dental and vision expenses).

Comparison of accounts

HSA FSA

Does Cytokinetics contribute? 
Employee: Up to $1,400 X
Amount for full-year 2022
Employee +1 or Family: Up to $2,800

Can I contribute my own savings?  


Is there an IRS maximum annual Employee: $3,650
contribution? Family: $7,300 Health Care or Limited Purpose FSAs: $2,850
Those 55 and older can contribute an Dependent Care FSA: $5,000
additional $1,000 annually.
!
 Up to $570 for Health Care and Limited
Will my savings roll over each year?
Unlimited Purpose FSAs; No roll over for
Dependent Care FSA

Will I earn interest on my savings?  X

Are the savings tax-favored?  
In most states*
Any monies not used for eligible expenses are
Do I keep the money if I leave forfeited; Option to continue Health Care or
the company? 
Limited Purpose FSAs only through COBRA
!
Can I also have a Flexible Spending N/A
Account (FSA)? Limited Purpose and
Dependent Care FSAs only
*State taxes may still apply in CA, NJ, and AL. For detailed tax implications of an HSA, please contact your professional tax advisor.
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