Page 16 - 2022 SoFi - August Open Enrollment
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Plan Year Information How do I make contributions?
The HSA Plan Year begins January 1 through Contributions can be made:
December 31. Pre-Tax Contributions: Employees will make this
SoFi Contribution election in Workday. Instructions are available in
$30.77 per pay period for employee only coverage. the Workday Benefits Mall.
$61.54 per pay period if you enroll one or After-Tax Contributions: Online at myCigna.com
more dependents. by making a tax-deductible contribution from
Contributions will be posted to your your personal checking account. Deposits outside
account biweekly. of payroll that exceed the IRS annual maximum
The HSA contribution amount is prorated and will result in potential loss of SoFi contributions.
adjusted based on the number of pay periods Total contributions to your HSA account cannot
left in the plan year which runs from January 1 exceed the annual IRS limits.
to December 31. Cigna Choice Fund with WealthCare Saver — SoFi’s HSA
How much can I contribute to a Health Employee payroll and SoFi contributions will be
Savings Account? effective first of the month following date of hire
You can elect up to the 2022 calendar year and will be sent to Cigna Choice Fund HSA.
maximum, as set by the IRS, of $3,650 for individuals Once WealthCare Saver has established an account
and $7,300 for families. All contributions include: for you, you will receive a Welcome Kit and Debit
card for your new Cigna Choice Fund HSA.
SoFi contributions
Contributions under a prior HSA plan Paying with your HSA money is easy.
Your contributions you elect to make under Use your debit card to pay at the pharmacy,
the SoFi plan doctor’s office or elsewhere. You can also order
Spouse’s/domestic partner’s contributions extra cards for covered family members.
if you are enrolled in family coverage with Pay your bills for qualified medical expenses
SoFi as well as family coverage under your online at myCigna.com.
spouse’s/domestic partner’s plan Pay out of pocket and reimburse yourself. You can do
Please contact your tax professional for that online or by withdrawing money with your debit
®
specific questions. card from any ATM with the MasterCard logo.
People over the age of 55 can make additional
“catch-up” contributions of $1,000.
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