Page 18 - Tacony 2021 Annual Benefits
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A Guide for Using Your HSA
How Your Health Plan and Your HSA Eligibility
Work Together You can open and contribute to an HSA if the
Your health plan is designed to meet IRS rules. following is true.
Your plan has a high deductible and you can
use your HSA to pay for it. Once you meet your 5 You are enrolled in a HSA-qualiied health plan
deductible, the plan pays a larger portion of your 5 You do not have health coverage under another
total bill, called coinsurance. health plan which is not HSA-qualiied (if you have
The health savings account (HSA) is a bank coverage under a spouse’s plan, it needs to be an
account for your healthcare expenses. You elect a HSA-qualiied plan)
pre-tax amount to contribute from your paycheck 5 You are not enrolled in a government-sponsored
each pay period. You can use your HSA debit card program, such as Medicare, Medicaid, or Tricare
to pay for medical, dental, and vision care at the 5 You have not received Veteran’s Administration
time of service, online, or when you receive your beneits within the last 3 months (unless you are
bill in the mail. receiving beneits for a service-related disability)
Pay For Your Family’s Care 5 You and your spouse are not contributing to
Any family members you claim on your taxes can also a healthcare lexible spending account (FSA);
beneit from your HSA. Even if they are not enrolled however, you may participate in a limited FSA or
in your health plan, your HSA can pay for their eligible dependent care FSA
medical, dental, and vision care. Refer to the HSA 5 You ile U.S. taxes and are not a tax dependent of
distribution rules in this guide for more details. someone else
Information in this document is not meant to cover
HSA rules extensively. For complete and up-to-date
information on HSA rules and regulations, please refer to
the Department of Treasury website at treasury.gov .
Information contained in this document should not be
considered legal or tax advice. Consult with your tax advisor
when considering the tax implications related to an HSA.
18 2021 Benefits Enrollment
How Your Health Plan and Your HSA Eligibility
Work Together You can open and contribute to an HSA if the
Your health plan is designed to meet IRS rules. following is true.
Your plan has a high deductible and you can
use your HSA to pay for it. Once you meet your 5 You are enrolled in a HSA-qualiied health plan
deductible, the plan pays a larger portion of your 5 You do not have health coverage under another
total bill, called coinsurance. health plan which is not HSA-qualiied (if you have
The health savings account (HSA) is a bank coverage under a spouse’s plan, it needs to be an
account for your healthcare expenses. You elect a HSA-qualiied plan)
pre-tax amount to contribute from your paycheck 5 You are not enrolled in a government-sponsored
each pay period. You can use your HSA debit card program, such as Medicare, Medicaid, or Tricare
to pay for medical, dental, and vision care at the 5 You have not received Veteran’s Administration
time of service, online, or when you receive your beneits within the last 3 months (unless you are
bill in the mail. receiving beneits for a service-related disability)
Pay For Your Family’s Care 5 You and your spouse are not contributing to
Any family members you claim on your taxes can also a healthcare lexible spending account (FSA);
beneit from your HSA. Even if they are not enrolled however, you may participate in a limited FSA or
in your health plan, your HSA can pay for their eligible dependent care FSA
medical, dental, and vision care. Refer to the HSA 5 You ile U.S. taxes and are not a tax dependent of
distribution rules in this guide for more details. someone else
Information in this document is not meant to cover
HSA rules extensively. For complete and up-to-date
information on HSA rules and regulations, please refer to
the Department of Treasury website at treasury.gov .
Information contained in this document should not be
considered legal or tax advice. Consult with your tax advisor
when considering the tax implications related to an HSA.
18 2021 Benefits Enrollment
