Page 5 - 2016 Enrollment
P. 5
Zydus Pharmaceuticals (USA) Inc.
Health Savings Account Zydus Quarterly Seeding
Employees who elect coverage in the high deductible health plan Individual All Other
Tier
Tiers
(HDHP) with UHC can possess and contribute into a health savings 1st quarter $62.50 $187.50
account (HSA). Your HSA will allow you to set aside pre-tax dollars 2nd quarter $62.50 $187.50
from your paycheck. Funds you save in your HSA can be used to pay 3rd quarter $62.50 $187.50
for certain eligible expenses. 4th quarter $62.50 $187.50
Additionally, funds will roll over year to year. HSAs are considered a Maximum Employee Contributions to
HSA—Semi-Monthly*
triple tax beneit. Not only can you save money from your paycheck Individual Tier All Other Tiers
pre-tax, you can also use the money in your HSA pre-tax as long as $129.17 $250.00
those funds are used to pay for an eligible expense. For example,
your HSA dollars can help pay toward your deductible or coinsurance * Keep in mind, your Zydus funding and your
personal HSA contributions cannot exceed the
payments. HSA funds can also pay for your Rx copays and some IRS 2016 contribution limits; therefore, your
dental and vision coverage. Finally, the funds in your HSA account personal contribution limit in 2016 would be
$3,100 for individual coverage and $6,000 for
can earn interest tax free, and after you’ve reached a certain amount all other coverage levels.
of savings you can take advantage of investment options.
While funds will always roll over year to year, the IRS does limit
how much money you can contribute to your HSA in a given plan
year. In 2016, if you have single coverage the contribution limit is
$3,350, while for employee + 1 or family coverage the contribution
limit is $6,750. If you are 55 or older, you can elect to contribute
an additional $1,000 on top of these amounts as a catch-up
contribution.
Employer Seeding
If you elect coverage in the HDHP and open an HSA account,
Zydus will contribute employer dollars into your account to help you
satisfy your deductible or to pay for other medically eligible expenses.
This employer seed funding will be contributed to employee HSA
accounts on a quarterly basis. Because Zydus helps fund employee
HSA accounts, the total amount an employee can contribute to their
HSA in 2016 is $3,100 for single coverage and $6,000 for employee +
1 or family coverage.
5
Health Savings Account Zydus Quarterly Seeding
Employees who elect coverage in the high deductible health plan Individual All Other
Tier
Tiers
(HDHP) with UHC can possess and contribute into a health savings 1st quarter $62.50 $187.50
account (HSA). Your HSA will allow you to set aside pre-tax dollars 2nd quarter $62.50 $187.50
from your paycheck. Funds you save in your HSA can be used to pay 3rd quarter $62.50 $187.50
for certain eligible expenses. 4th quarter $62.50 $187.50
Additionally, funds will roll over year to year. HSAs are considered a Maximum Employee Contributions to
HSA—Semi-Monthly*
triple tax beneit. Not only can you save money from your paycheck Individual Tier All Other Tiers
pre-tax, you can also use the money in your HSA pre-tax as long as $129.17 $250.00
those funds are used to pay for an eligible expense. For example,
your HSA dollars can help pay toward your deductible or coinsurance * Keep in mind, your Zydus funding and your
personal HSA contributions cannot exceed the
payments. HSA funds can also pay for your Rx copays and some IRS 2016 contribution limits; therefore, your
dental and vision coverage. Finally, the funds in your HSA account personal contribution limit in 2016 would be
$3,100 for individual coverage and $6,000 for
can earn interest tax free, and after you’ve reached a certain amount all other coverage levels.
of savings you can take advantage of investment options.
While funds will always roll over year to year, the IRS does limit
how much money you can contribute to your HSA in a given plan
year. In 2016, if you have single coverage the contribution limit is
$3,350, while for employee + 1 or family coverage the contribution
limit is $6,750. If you are 55 or older, you can elect to contribute
an additional $1,000 on top of these amounts as a catch-up
contribution.
Employer Seeding
If you elect coverage in the HDHP and open an HSA account,
Zydus will contribute employer dollars into your account to help you
satisfy your deductible or to pay for other medically eligible expenses.
This employer seed funding will be contributed to employee HSA
accounts on a quarterly basis. Because Zydus helps fund employee
HSA accounts, the total amount an employee can contribute to their
HSA in 2016 is $3,100 for single coverage and $6,000 for employee +
1 or family coverage.
5
