Page 7 - 2020 HEICO Enrollment
P. 7
2020
The Heico Companies, LLC Benefits Enrollment
HSA Employer Funding
Healthcare Beneit
Efective Date Employee Only Employee + 1 and Family
(Plan Year: Jan 1–Dec 31)
January 1 $500 $1,000
February 1 $458 $917
March 1 $417 $833
April 1 $375 $750
May 1 $333 $667
June 1 $291 $583
July 1 $250 $500
August 1 $208 $417
September 1 $167 $333
October 1 $125 $250
November 1 $83 $167
December 1 $42 $83
* Pro-rated monthly based on medical plan efective date.
You can use the funds in the account to pay for your dependent’s
qualiied expenses—even if you do not cover them on the Heico plan.
Qualiied expenses are not limited to items associated with your
medical plan. You can also use your funds to pay for dental, vision,
qualiied over-the-counter items, COBRA premiums, long-term care
insurance, and for Medicare Premiums (for people 65 and older).
You are not eligible to contribute to an HSA if you are enrolled in
Medicare, receiving Social Security beneits, or if you are claimed as a
dependent on someone else’s tax return.
If the person wants to defer Social Security retirement beneits
beyond age 65, he or she should nevertheless apply for Medicare Part
A at age 65, unless he or she is enrolled in his or her employer’s high-
deductible health plan (HDHP) and enjoys contributing to a Health
Savings Account (HSA). Enrolling in Medicare will cause him or her
to be ineligible to make contributions to his or her HSA.
If you are covering your spouse on the medical plan and they have
enrolled in their employer-sponsored Healthcare Flexible Spending
Account (FSA), the FSA must be a “limited” plan.
You can change your contribution at anytime throughout the year. See
your local HR Manager for details.
7
The Heico Companies, LLC Benefits Enrollment
HSA Employer Funding
Healthcare Beneit
Efective Date Employee Only Employee + 1 and Family
(Plan Year: Jan 1–Dec 31)
January 1 $500 $1,000
February 1 $458 $917
March 1 $417 $833
April 1 $375 $750
May 1 $333 $667
June 1 $291 $583
July 1 $250 $500
August 1 $208 $417
September 1 $167 $333
October 1 $125 $250
November 1 $83 $167
December 1 $42 $83
* Pro-rated monthly based on medical plan efective date.
You can use the funds in the account to pay for your dependent’s
qualiied expenses—even if you do not cover them on the Heico plan.
Qualiied expenses are not limited to items associated with your
medical plan. You can also use your funds to pay for dental, vision,
qualiied over-the-counter items, COBRA premiums, long-term care
insurance, and for Medicare Premiums (for people 65 and older).
You are not eligible to contribute to an HSA if you are enrolled in
Medicare, receiving Social Security beneits, or if you are claimed as a
dependent on someone else’s tax return.
If the person wants to defer Social Security retirement beneits
beyond age 65, he or she should nevertheless apply for Medicare Part
A at age 65, unless he or she is enrolled in his or her employer’s high-
deductible health plan (HDHP) and enjoys contributing to a Health
Savings Account (HSA). Enrolling in Medicare will cause him or her
to be ineligible to make contributions to his or her HSA.
If you are covering your spouse on the medical plan and they have
enrolled in their employer-sponsored Healthcare Flexible Spending
Account (FSA), the FSA must be a “limited” plan.
You can change your contribution at anytime throughout the year. See
your local HR Manager for details.
7
