Page 12 - Skyworks Solutions, Inc.

Health

Health Savings Account

Your Health Savings Account (HSA) is a personal company contribution. If you are 55 or older in 2022,
savings account through Fidelity. In general, you you’re eligible to contribute an additional $1,000.
use your HSA funds to pay for eligible health care
expenses that your health care plan does not Additional HSA Facts:
cover. This includes expenses you incur before • Change your contribution amounts at any time
you meet your deductible and coinsurance after • If you terminate from Skyworks, you may keep
your deductible is met. Your HSA is funded through the balance in your account or roll it over to
your pre-tax contributions and contributions that another provider
Skyworks makes on your behalf. You may invest the • Keep your receipts in case you’re audited
funds in your account and the earnings are tax free • Your distributions will be taxed and incur a 20%
and the withdrawals are tax free if used for eligible penalty if the distributions are not for eligible
medical expenses. Any funds left in your account medical expenses. The additional penalty is
will roll over from year to year. That is how you waived if the distribution is after you’ve reached
can save for future medical expenses. For more age 65
information, visit the IRS’ website. You are eligible
to begin participation in the HSA the first of the For more information including an FAQ, refer to
month following your enrollment in the Skyworks Benefits Connection.
medical plan.

It is your responsibility to determine if you are
eligible to participate in an HSA:
• You must be enrolled in the Skyworks Medical or
Medical Plus plan with HSA
• You cannot be covered by any other health plan
that is not an HSA-eligible plan
• You cannot be enrolled in both an HSA and a
Healthcare Flexible Spending Account (HCFSA)
• You cannot be currently enrolled in Medicare
• You cannot be claimed as a dependent on
another person’s tax return
• Covered dependents must be considered
dependents under IRS rulings

In 2022 Skyworks will contribute $600 for employee
only and $1,200 for employee plus one or family
coverage. These contributions are prorated based
on when you enroll in the medical plan. If you are
ineligible to contribute to the HSA, the company
contribution will be provided to you in your
paycheck on a biweekly basis.

In 2022, you can contribute a maximum of $3,650
for employee only and $7,300 for employee plus
one or family coverage. These totals include the

Skyworks Solutions Employee Benefits Guide - U.S. 12