Page 7 - 2016 Enrollment
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The Accounts Important HSA
Considerations
Eligibility restrictions apply! Employees enrolled in Medicare or You must remain enrolled in the
TRICARE or who are enrolled in any other non-high deductible health HSA plan for 12 months from
your initial enrollment or your
plan, are not eligible to open a HSA. In addition, employees who have HSA contributions will be subject
received VA beneits in the last three months or who can be claimed as a to tax implications. You will have
dependent on another person’s taxes are also not eligible. See HSA User the opportunity to change during
Guide on the Employee Portal for details. the annual enrollment period
following 12 months of coverage.
Remember: an HSA account is all yours. You keep whatever is in the For more information, please see
IRS Publication 969, consult a tax
account, even if you leave Nortek, and the money rolls over, year after advisor, or both. You are responsible
year: there is no “use it or lose it” rule. for monitoring and adjusting your
contributions throughout the year to
To learn more about Optum Bank and how HSA accounts earn interest ensure compliance with federal laws
and can be invested, visit www.optumbank.com. and limitations that apply to HSAs.
HRA Accounts More Restricted
The HRA account does not allow for employee contributions. However,
any accumulated funds in the HRA account carry over year to year, just
like the HSA accounts. An HRA account is not portable. If you are in
the HRA and leave the company, any money in your account stays with
the company. UnitedHealthcare will manager your HRA account and use
available HRA funds to pay medical claims that apply to your medical
deductible or coinsurance.
2016 New Hire Enrollment
The Accounts Important HSA
Considerations
Eligibility restrictions apply! Employees enrolled in Medicare or You must remain enrolled in the
TRICARE or who are enrolled in any other non-high deductible health HSA plan for 12 months from
your initial enrollment or your
plan, are not eligible to open a HSA. In addition, employees who have HSA contributions will be subject
received VA beneits in the last three months or who can be claimed as a to tax implications. You will have
dependent on another person’s taxes are also not eligible. See HSA User the opportunity to change during
Guide on the Employee Portal for details. the annual enrollment period
following 12 months of coverage.
Remember: an HSA account is all yours. You keep whatever is in the For more information, please see
IRS Publication 969, consult a tax
account, even if you leave Nortek, and the money rolls over, year after advisor, or both. You are responsible
year: there is no “use it or lose it” rule. for monitoring and adjusting your
contributions throughout the year to
To learn more about Optum Bank and how HSA accounts earn interest ensure compliance with federal laws
and can be invested, visit www.optumbank.com. and limitations that apply to HSAs.
HRA Accounts More Restricted
The HRA account does not allow for employee contributions. However,
any accumulated funds in the HRA account carry over year to year, just
like the HSA accounts. An HRA account is not portable. If you are in
the HRA and leave the company, any money in your account stays with
the company. UnitedHealthcare will manager your HRA account and use
available HRA funds to pay medical claims that apply to your medical
deductible or coinsurance.
2016 New Hire Enrollment
