Page 14 - Adreima Enrollment Guide
P. 14
Annual Enrollment
Planning for the Future Opening an HSA with Benefit Wallet
What will happen to my money when In order to open an HSA, please visit www.mybeneitwallet.com. To
I turn 65? You can continue to use open an account, you’ll need the following items:
your account tax-free for out-of-
pocket health expenses. When you Your Social Security number
enroll in any portion of Medicare, you Your email address
can no longer contribute to an HSA, Your BCBSIL group number (this will be provided soon)
but you can still use your account to Your identiication number from another form of ID (e.g.,
pay Medicare premiums, deductibles, driver’s license, passport, etc.)
copays, and coinsurance under any
part of Medicare. The one expense Once you have opened your account, you will receive a welcome kit.
you cannot use your account for is You will also receive your account debit card and PIN number in two
to purchase a Medicare supplemental separate, unmarked envelopes, so make sure to watch for these in the
insurance or “Medigap” policy. mail.
Once you turn age 65, you can also use What if I Want to Roll My HSA Over to Benefit Wallet
your account to pay for things other From a Different Bank?
than medical expenses. If used for You do not have to roll your account over; however, if you want
other expenses, the amount withdrawn to move it, simply complete the HSA deposit slip included in your
will be taxable as income but will welcome packet and enclose a check with the remaining balance
not be subject to any other penalties. from your prior HSA account payable to “The Bank of New York
Individuals under age 65 who use their Mellon”. Be sure to check the “rollover” box on the HSA Deposit
accounts for non-medical expenses Slip. Beneit Wallet does not charge rollover fees for moving your
must pay income tax and a 20 percent account. Note: the IRS limits rollovers to once every 12 months.
penalty on the amount withdrawn. Bank Account Fees
Item Fee
Account set-up fee None
Monthly account fee Adreima is covering this cost for team
members
Paper statements $1 .25
Debit card issuance Two cards per account at no cost
Replace lost or stolen debit card $5 .00
Initial checkbook Free
Checkbook reorder $5 .00 for reorder of 40 checks
Overdraft/NSF per item $25 .00
ATM distributions $2 .00 per transaction
14
Planning for the Future Opening an HSA with Benefit Wallet
What will happen to my money when In order to open an HSA, please visit www.mybeneitwallet.com. To
I turn 65? You can continue to use open an account, you’ll need the following items:
your account tax-free for out-of-
pocket health expenses. When you Your Social Security number
enroll in any portion of Medicare, you Your email address
can no longer contribute to an HSA, Your BCBSIL group number (this will be provided soon)
but you can still use your account to Your identiication number from another form of ID (e.g.,
pay Medicare premiums, deductibles, driver’s license, passport, etc.)
copays, and coinsurance under any
part of Medicare. The one expense Once you have opened your account, you will receive a welcome kit.
you cannot use your account for is You will also receive your account debit card and PIN number in two
to purchase a Medicare supplemental separate, unmarked envelopes, so make sure to watch for these in the
insurance or “Medigap” policy. mail.
Once you turn age 65, you can also use What if I Want to Roll My HSA Over to Benefit Wallet
your account to pay for things other From a Different Bank?
than medical expenses. If used for You do not have to roll your account over; however, if you want
other expenses, the amount withdrawn to move it, simply complete the HSA deposit slip included in your
will be taxable as income but will welcome packet and enclose a check with the remaining balance
not be subject to any other penalties. from your prior HSA account payable to “The Bank of New York
Individuals under age 65 who use their Mellon”. Be sure to check the “rollover” box on the HSA Deposit
accounts for non-medical expenses Slip. Beneit Wallet does not charge rollover fees for moving your
must pay income tax and a 20 percent account. Note: the IRS limits rollovers to once every 12 months.
penalty on the amount withdrawn. Bank Account Fees
Item Fee
Account set-up fee None
Monthly account fee Adreima is covering this cost for team
members
Paper statements $1 .25
Debit card issuance Two cards per account at no cost
Replace lost or stolen debit card $5 .00
Initial checkbook Free
Checkbook reorder $5 .00 for reorder of 40 checks
Overdraft/NSF per item $25 .00
ATM distributions $2 .00 per transaction
14
