Page 9 - Mersen Benefit Guide Local 502

Key Plan

Save up to approximately 30% of your overall medical and prescription expenses by selecting the Key Plan, a lower cost plan for
the engaged consumer. With the Key Plan and its HSA, members actively choose in-network health care providers, manage health
expenses, improve health spending knowledge, and have HighmarkBCBS support with administration and questions.

With the Key Plan, instead of copays, you pay the full, discounted medical or prescription drug costs for any claims that you incur until
you reach your deductible. Once you’ve met your deductible, coinsurance will be your responsibility up to the maximum out-of-pocket
limit. As with all our medical plans, your costs are lower if you have in-network services/providers.

The Key Plan is paired with a Health Saving Account (HSA). The HSA will help you save for deductibles, qualified, and/or out-of-
pocket medical expenses by designating pre-tax payroll deductions into this account. Once enrolled in the Key Plan, you will receive a
notice to confirm your new/existing HSA bank account. You must do this to receive any funds from Mersen. If you were previously
enrolled in the Key Plan, your account information or funds will automatically roll over into your 2023 account.

Mersen will contribute money into your 2023 health savings account! In 2023, Mersen will contribute $750 to an employee only
HSA account or $1,250 to an employee family (plus one-or-more) HSA accounts.

Here are more details to the HSA and Mersen’s Key Plan.

With an HSA:
• Register for this pre-tax savings account (HSA).
• Get reimbursed for qualified, out-of-pocket medical expenses. IRS guidelines apply.
• In 2023, Mersen will contribute to the savings accounts to help you with your deductibles.
o Mersen will continue to contribute $750 for employee only coverage and $1,250 for employee family (plus
one-or-more) in 2023.
• In addition to contributing to the accounts before taxes, you also earn interest, the money never expires, and you
can take it with you even if you change jobs*.
• You can contribute additional pretax earnings to the HSA to a 2023 maximum of $3,850 for individual and $7,750 for
employee+1 or more. Please note this amount is inclusive of any Mersen contributions made. For those over age 55,
you may elect to contribute an additional $1,000 catch-up to your HSA.

To be eligible for a HSA, you:
• Must be enrolled in Mersen’s Key Plan (IRS-qualified high-deductible medical plan).
• Cannot have any other health coverage.
• Not covered by spouse’s medical or pharmacy plan.
• Not covered through Medicare Part A or Part B or State Plan.
• Not covered through a general-purpose Flexible Spending Account (FSA) plan (either employer’s or spouse’s).
• Cannot be claimed as a dependent on another person’s tax return.
• Must be 18 years of age, have a Social Security number and are a US citizen or a green card holder or have a US residential
address

Here are some highlights of how the options work:
• You have access to both in-network and out-of-network providers—you’ll pay less when you stay in-network.
• You pay 100% of eligible medical and prescription drug expenses (except for preventive care expenses)
until you satisfy the annual deductible.
• After you satisfy the deductible, the Plan pays a portion of eligible expenses, and you pay the rest (the coinsurance)
up to the out-of-pocket maximum. If you cover dependents, you must satisfy the family deductible.
• You are protected with an annual cap which is known as the out-of-pocket maximum.

*Banking fees apply to the administration of the HSA account once you are no longer employed with Mersen or no longer actively
enrolled in the Key Plan.

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