Page 7 - Zelis 2022 Executive Benefits Guide

Health Savings Account (HSA)
If you enroll in a HSA 2800 or HSA 5000 medical plan, you can also choose to set aside pre-tax money in a Health Savings Account (HSA) to use for eligible expenses. Your savings can build up year over year, earn interest, and can even be invested to grow your funds tax-free.
Pre-tax payroll deductions lower your tax bill
Tax-free growth from interest or investment returns
You must be enrolled in a HSA 2800 or HSA 5000 medical plan to have an HSA. To be eligible for an HSA, you cannot be:
• Claimed as a tax dependent.
• Enrolled in Medicare (whether or not you were
automatically enrolled due to age).
• Covered by your own or your spouse’s flexible spending account (FSA), health reimbursement arrangement (HRA), or non-high-deductible health plan. Exceptions: limited purpose FSA or post- deductible HRA.
Use the HSA for any IRS-Approved Healthcare Expenses
• For you, your spouse, and/or eligible tax dependents—whether they are on your medical plan or not.
• Now or in the future—even during retirement.
• Once you’ve enrolled in Medicare, you can’t contribute to an HSA but you can still withdraw money tax-free to pay healthcare expenses.
You can start, stop, or change your contribution amount during the year—you don’t have to wait for open enrollment. You can make these changes directly online.
When you choose to participate in your Zelis sponsored HSA, you elect a total dollar amount to contribute
to your account, funded in the form of pre-tax payroll deductions.
Your voluntary election will be deducted from your paychecks incrementally over the course of the year and deposited into your HSA account.
Zelis will make a contribution on your behalf even if
you do not contribute yourself. This contribution will also be deposited into your account incrementally every pay period.
You and Zelis can both contribute to your HSA.
HSAs are individually owned, meaning the account stays with the you even if you switch jobs or insurance plans.
HSA Contribution Limits
For the 2022 calendar year, the IRS limits what you can contribute to an HSA to:
HSA Eligibility
• Single coverage: $3,650
• Family coverage: $7,300
• Additional catch-up contribution (turning age 55+): $1,000
Zelis HSA Contributions
Associate Only
Associate & Spouse
Associate & Child(ren)
Family
HSA 2800
HSA 5000
Tax-free withdrawals for eligible health expenses
Biweekly
Yearly
Biweekly
Yearly
$46.16
$61.54
$76.93
$76.93
$1,200 $1,600 $2,000 $2,000
$69.24
$76.93
$115.39
$115.39
$1,800
$2,000
$3,000
$3,000
See additional detail about HSA contributions at the end of this guide: Benefits Plan Summary and Premiums section.
Executive Employees 7