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P. 8
2016 Benefits Enrollment
Health Savings Account (HSA)
If you enroll in the Consumer HSA HSA Major Benefits
Choice Plus plan, you are eligible to Funds always belong to you even if you retire or leave the
establish an HSA. An HSA is a tax- company
favored savings account that works Funds always roll over to use the following year
in conjunction with your health plan
coverage. HSA dollars can be used Lowers your taxable income
to pay for qualiied medical expenses HSA Triple Tax Savings
such as deductibles, copays, dental, Tax deduction when you contribute to your account
and vision care. For a complete list
of qualiied medical expenses visit Tax-free earnings through investment
www.irs.gov in IRS Publication 502. Tax-free withdrawal for qualiied medical expenses
Optum Bank will open your HSA The IRS regulates how much you are allowed to put into your HSA
account and send a welcome kit with annually. The 2016 and 2017 contribution limits are as follows.
your Optum Bank HSA debit card. Contributions
Optum Bank will also contact you 2016 2017
if any questions arise while opening Individual $3,350 $3,400
your account. You must respond to Family $6,650 $6,650
any requests to open your account. If 55 or older Eligible for an additional catch-up contribution of
$1,000 annually
your account has not cleared all Patriot
Act clearances, your funds will be held
at Optum Bank for 60 days. If your You have the ability to start, stop, or change your per-pay-period
account has not been opened after HSA contribution at any time by logging into ADP/WFN and
60 days, your contributions will be requesting a change. The change will be effective within 1–2 pay
returned to Optimas who will add to periods following the request.
your pay and withdraw the necessary
taxes. Questions pertaining to a Health Savings Account can be directed
to UnitedHealthcare/Optum Bank by calling 866.734.7670 and
If you elect to contribute to an HSA, providing group number 905032. Registered users with UHC can also
your HSA deductions will be withheld log into www.myuhc.com and access account information by clicking
from your paycheck and forwarded on the “Claims and Accounts tab.
to Optum Bank. Whatever annual
amount you elect will be divided by HSA Reimbursement
the number of pay periods remaining Please keep in mind you may only use your HSA funds to
in the year, deducted from your pay, reimburse yourself for eligible expenses incurred after your
and deposited into your HSA. HSA account is opened.
8
Health Savings Account (HSA)
If you enroll in the Consumer HSA HSA Major Benefits
Choice Plus plan, you are eligible to Funds always belong to you even if you retire or leave the
establish an HSA. An HSA is a tax- company
favored savings account that works Funds always roll over to use the following year
in conjunction with your health plan
coverage. HSA dollars can be used Lowers your taxable income
to pay for qualiied medical expenses HSA Triple Tax Savings
such as deductibles, copays, dental, Tax deduction when you contribute to your account
and vision care. For a complete list
of qualiied medical expenses visit Tax-free earnings through investment
www.irs.gov in IRS Publication 502. Tax-free withdrawal for qualiied medical expenses
Optum Bank will open your HSA The IRS regulates how much you are allowed to put into your HSA
account and send a welcome kit with annually. The 2016 and 2017 contribution limits are as follows.
your Optum Bank HSA debit card. Contributions
Optum Bank will also contact you 2016 2017
if any questions arise while opening Individual $3,350 $3,400
your account. You must respond to Family $6,650 $6,650
any requests to open your account. If 55 or older Eligible for an additional catch-up contribution of
$1,000 annually
your account has not cleared all Patriot
Act clearances, your funds will be held
at Optum Bank for 60 days. If your You have the ability to start, stop, or change your per-pay-period
account has not been opened after HSA contribution at any time by logging into ADP/WFN and
60 days, your contributions will be requesting a change. The change will be effective within 1–2 pay
returned to Optimas who will add to periods following the request.
your pay and withdraw the necessary
taxes. Questions pertaining to a Health Savings Account can be directed
to UnitedHealthcare/Optum Bank by calling 866.734.7670 and
If you elect to contribute to an HSA, providing group number 905032. Registered users with UHC can also
your HSA deductions will be withheld log into www.myuhc.com and access account information by clicking
from your paycheck and forwarded on the “Claims and Accounts tab.
to Optum Bank. Whatever annual
amount you elect will be divided by HSA Reimbursement
the number of pay periods remaining Please keep in mind you may only use your HSA funds to
in the year, deducted from your pay, reimburse yourself for eligible expenses incurred after your
and deposited into your HSA. HSA account is opened.
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