Page 8 - 2019 Heico Core Benefits Guide
P. 8
2019 | The Heico Companies Enrollment Guide
Health Savings Account
BenefitWallet
When you enroll in the Heico medical plan, you are eligible to participate in a Health Savings Account (HSA) as well as receive the
employer annual funding � These amounts are highlighted in the tables below � Employees do not have to contribute to the Health
Savings Account to receive the employer funding � You must open the account within 31 days to receive the employer funding �
In 2019, Individuals are eligible to contribute $3,500 to their HSA accounts� If more than one person is enrolled, employees
may contribute up to $7,000 to their HSA account� These amounts include the employer funding�
Anybody who is age 55 or older is eligible to contribute an extra $1,000 into their HSA account�
Any money left in your HSA account at the end of the year rolls over to the following year�
An HSA is an employee-owned, tax-deferred bank account.
An HSA puts you in control to shop around for care which is based on quality and cost�
You can contribute pre-tax dollars into an HSA and funds accumulate tax-free.
HSA funds are yours to keep (or invest!) even if you leave the company�
HSA accounts are portable and pass on to your beneficiaries at death�
Note: You must OPEN your HSA account within 31 days of being eligible for medical coverage to receive the
employer funding. Please see the pro-rated employer contribution schedule below. For more information, visit
www.mybenefitwallet.com or call customer service at 877-472-4200.
It is possible the money in the HSA may be enough to cover all your costs for the year. This means you would pay nothing out of pocket.
Healthcare Benefit Employee You can use the funds in the account to pay for your dependent’s qualified
Effective Date Employee + 1 expenses—even if you do not cover them on the Heico plan�
(Plan Year: Jan 1–Dec 31) Only & Family
Qualified expenses are not limited to items associated with your medical
January 1 $500 $1,000 plan� You can also use your funds to pay for dental, vision, qualified over-
February 1 $458 $917 the-counter items, COBRA premiums, long-term care insurance, and for
March 1 $417 $833 Medicare Premiums (for people 65 and older)�
April 1 $375 $750
You are not eligible to contribute to an HSA if you are enrolled in Medicare,
May 1 $333 $667 receiving Social Security benefits, or if you are claimed as a dependent on
June 1 $291 $583 someone else’s tax return�
July 1 $250 $500
If the person wants to defer Social Security retirement benefits beyond age 65,
August 1 $208 $417
September 1 $167 $333 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
October 1 $125 $250 enjoys contributing to a Health Savings Account (HSA)� Enrolling in Medicare
November 1 $83 $167 will cause him or her to be ineligible to make contributions to his or her HSA�
December 1 $42 $83
If you are covering your spouse on the medical plan and they have enrolled
*Pro-rated monthly based on medical plan effective date. 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 administrator for details�
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Health Savings Account
BenefitWallet
When you enroll in the Heico medical plan, you are eligible to participate in a Health Savings Account (HSA) as well as receive the
employer annual funding � These amounts are highlighted in the tables below � Employees do not have to contribute to the Health
Savings Account to receive the employer funding � You must open the account within 31 days to receive the employer funding �
In 2019, Individuals are eligible to contribute $3,500 to their HSA accounts� If more than one person is enrolled, employees
may contribute up to $7,000 to their HSA account� These amounts include the employer funding�
Anybody who is age 55 or older is eligible to contribute an extra $1,000 into their HSA account�
Any money left in your HSA account at the end of the year rolls over to the following year�
An HSA is an employee-owned, tax-deferred bank account.
An HSA puts you in control to shop around for care which is based on quality and cost�
You can contribute pre-tax dollars into an HSA and funds accumulate tax-free.
HSA funds are yours to keep (or invest!) even if you leave the company�
HSA accounts are portable and pass on to your beneficiaries at death�
Note: You must OPEN your HSA account within 31 days of being eligible for medical coverage to receive the
employer funding. Please see the pro-rated employer contribution schedule below. For more information, visit
www.mybenefitwallet.com or call customer service at 877-472-4200.
It is possible the money in the HSA may be enough to cover all your costs for the year. This means you would pay nothing out of pocket.
Healthcare Benefit Employee You can use the funds in the account to pay for your dependent’s qualified
Effective Date Employee + 1 expenses—even if you do not cover them on the Heico plan�
(Plan Year: Jan 1–Dec 31) Only & Family
Qualified expenses are not limited to items associated with your medical
January 1 $500 $1,000 plan� You can also use your funds to pay for dental, vision, qualified over-
February 1 $458 $917 the-counter items, COBRA premiums, long-term care insurance, and for
March 1 $417 $833 Medicare Premiums (for people 65 and older)�
April 1 $375 $750
You are not eligible to contribute to an HSA if you are enrolled in Medicare,
May 1 $333 $667 receiving Social Security benefits, or if you are claimed as a dependent on
June 1 $291 $583 someone else’s tax return�
July 1 $250 $500
If the person wants to defer Social Security retirement benefits beyond age 65,
August 1 $208 $417
September 1 $167 $333 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
October 1 $125 $250 enjoys contributing to a Health Savings Account (HSA)� Enrolling in Medicare
November 1 $83 $167 will cause him or her to be ineligible to make contributions to his or her HSA�
December 1 $42 $83
If you are covering your spouse on the medical plan and they have enrolled
*Pro-rated monthly based on medical plan effective date. 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 administrator for details�
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