Page 11 - 2022 US Benefits Guide FINAL

NAME OF WELLNESS PROGRAM
SAVINGS ACCOUNTS

Applied offers several accounts that enable you to pay for eligible expenses tax-free. The IRS
provides a list of eligible expenses for each account at www.irs.gov. make tax-free contributions to a savings account to pay for current and future medical expenses for you and your
dependents.

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

Comparison of accounts
HSA FSA

Does the company ✓
contribute? Employee: $750 
Amount for full-year 2022 Family: $1,250

Can I contribute my own ✓ ✓
savings?

✓ ✓
Is there an IRS maximum Employee: $3,650 Health Care or Limited Purpose FSAs: $2,850
annual contribution? Family: $7,300 Dependent Care FSA: $5,000
Those 55 and older can contribute an
additional $1,000 annually.
!
Will my savings roll over ✓ Up to $550 for Health Care and
Limited Purpose FSAs;
each year? Unlimited No roll over for
Dependent Care FSA
Will I earn interest on my ✓ 
savings?

Are the savings tax-free? ✓ ✓
In most states
Will I get a debit card? ✓ ✓

Do I keep the money if I leave Option to continue Health Care or Limited
the company? ✓ Purpose FSA only through COBRA

Can I also have a Flexible Limited Purpose and
Spending Account (FSA)? Dependent Care FSAs only N/A

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