Page 11 - Watkins Associated Industries, Inc - 2022 Benefits Guide

SAVINGS AND REIMBURSEMENT ACCOUNTS

Comparison of accounts

HSA HRA FSA
Does the company YES YES
contribute? *Employee up to $1,000 *Employee: $500 NO
Amount for full-year 2022 Family up to $2,000 Family: $1,000

Can I contribute? YES NO YES

YES YES
Is there an IRS maximum Employee: $3,650 Health Care or
annual contribution? Family: $7,300 NO Limited Purpose: $2,750
Those 55 and older can contribute an
additional $1,000 annually. Dependent Care: $5,000
YES
Will my funds roll over YES YES Up to $550 for Health Care and
each year? Unlimited available as long as you are enrolled Limited Purpose FSAs
in the plan
No roll over for Dependent Care FSA
Will I earn interest on my
savings? YES NO NO
Are the savings tax-free?
In most states YES YES YES
Will I get a debit card? YES NO YES

Do I keep the money if I leave YES YES
the company? YES Option to continue through COBRA Option to continue Health Care or Limited
Purpose FSA only through COBRA
Can I also have a Flexible YES
Spending Account (FSA)? Limited Purpose and YES N/A
Dependent Care FSAs only
*Amounts vary based on completion of wellness requirement.

WELLBEING
WELCOME BENEFIT BASICS MEDICAL DENTAL VISION HSA FSA DISABILITY/LIFE ADDITIONAL BENEFITS 401(k) CONTACTS 11
PROGRAM