Page 9 - Guaranty Home Mortgage-2022-Benefit Guide

Savings and Reimbursement Accounts

Guaranty Home Mortgage offers several accounts that enable you to pay for eligible expenses tax-free. We also offer a
plan with a Health Reimbursement Arrangement (HRA). This is a reimbursement arrangement only. You cannot contribute
to this account; it is funded and owned exclusively by the company. 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 Account (FSA) Spending Account (FSA)

Available to those enrolled in the HDHP You can use this account for medical, Use for eligible childcare expenses for
as long as you are not enrolled in any pharmacy, dental and vision expenses. dependents under age 13 or elder care.
other health coverage or Medicare, or
claimed as a dependent on someone
else’s tax return.

Comparison of accounts

HSA HRA FSA
 
Does the company contribute?
Amount for full-year 2022 Employee: $750 Employee: $4,000 X
Employee +1 or Family: $1,500 Employee +1 or Family: $8,000

Can I contribute my own savings?  X 

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

Are the savings tax-free?   
In most states

Do I keep the money if I leave  X X
the company?
Can I also have a Flexible ! 
Spending Account (FSA)? Dependent Care FSA only N/A

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