Page 18 - 2018 SLU New Hire Guide
P. 18
What is the Difference Between an HSA and FSA?
Health Savings Account Healthcare FSA
(available with QHDHP Plan) (available with Plus Plan)
How much can Up to $3,450 for you only Up to $2,650, regardless of
I contribute coverage and $6,850 for any dependents being covered on
pre-tax to my other coverage level; if you the medical plan
savings account are 55+, the IRS allows you to
in 2018? contribute an additional $1,000
catch-up contribution
What can I Offset your deductible, copays (if applicable to your plan),
use my pre-tax coinsurance, prescription drug costs, dental care, vision care,
savings for? and much more
Where can I ind www.irs.gov; Section 213 (d) of the IRS Tax Code
a comprehensive
list of eligible
expenses?
Can I make Yes; you may make Upon experiencing a qualifying
changes to my contribution changes life event only
contribution mid- throughout the plan year
year?
When are my HSA funds are available shortly Healthcare FSAs are fully
savings available after your payroll deduction funded and available for you
to me? occurs; you have available to to use as of January 1 or the
you only those funds which date you become eligible to
have been payroll deducted participate
and deposited to your account
What happens HSA funds always roll over The healthcare FSA is a “use
to funds unused from year to year it or lose it” beneit; funds you
at the end of the do not use during the year are
year? forfeited to the plan
We have highlighted more details about the HSA and healthcare FSA programs in
pages 13 through 17 of this beneits guide.
18 2018 New Hire Guide
Health Savings Account Healthcare FSA
(available with QHDHP Plan) (available with Plus Plan)
How much can Up to $3,450 for you only Up to $2,650, regardless of
I contribute coverage and $6,850 for any dependents being covered on
pre-tax to my other coverage level; if you the medical plan
savings account are 55+, the IRS allows you to
in 2018? contribute an additional $1,000
catch-up contribution
What can I Offset your deductible, copays (if applicable to your plan),
use my pre-tax coinsurance, prescription drug costs, dental care, vision care,
savings for? and much more
Where can I ind www.irs.gov; Section 213 (d) of the IRS Tax Code
a comprehensive
list of eligible
expenses?
Can I make Yes; you may make Upon experiencing a qualifying
changes to my contribution changes life event only
contribution mid- throughout the plan year
year?
When are my HSA funds are available shortly Healthcare FSAs are fully
savings available after your payroll deduction funded and available for you
to me? occurs; you have available to to use as of January 1 or the
you only those funds which date you become eligible to
have been payroll deducted participate
and deposited to your account
What happens HSA funds always roll over The healthcare FSA is a “use
to funds unused from year to year it or lose it” beneit; funds you
at the end of the do not use during the year are
year? forfeited to the plan
We have highlighted more details about the HSA and healthcare FSA programs in
pages 13 through 17 of this beneits guide.
18 2018 New Hire Guide
