Page 12 - AB Mauri 2022 Benefits Guide MOIL
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Health Savings Account (HSA)
A health savings account (HSA) is a tax-favored personal savings account which works with your HSA plan.
HSA dollars can be used to pay for qualiied medical expenses such as deductibles, dental, and vision care.
For a complete list of qualiied medical expenses, visit https://healthequity.com/qme.
HSA Benefits Contributing to Your HSA
■ Funds always belong to you Upon enrolling in the HDHP/HSA medical plan,
■ Funds always roll over from year-to-year you can open a Health Savings Bank Account with
■ Lowers your taxable income HealthEquity.
HSA Triple Tax Savings The IRS limits the amount you can contribute to your
■ Tax deduction when you contribute to your HSA each year. At age 55+ you can contribute an
account additional $1,000 catch-up contribution per year.
■ Tax-free earnings through investment You can contribute 1/12th of the annual IRS
■ Tax-free withdrawal for qualiied medical contribution limit for each month you are enrolled
expenses in the HSA plan. If you are eligible to contribute
to an HSA on the irst day of the last month of the
You are Eligible to Open an tax year, you are considered eligible for the entire
HSA if year, provided you stay enrolled in an HSA the next
■ You are enrolled in an HSA medical plan tax year.
(qualiied high deductible health plan) 2022
■ You are not covered by your spouse’s health Coverage Tier IRS Annual Limit
plan, any other health plan, or lexible spending Employee $3,650
account Employee + Dependent(s) $7,300
■ You are not claimed as a dependent on
someone else’s tax return Saving Your HSA Funds
■ You are not enrolled in Medicare, TRICARE, or There is no “use it or lose it” rule. Any
TRICARE for Life unused money will remain in your HSA
■ You have not received Veterans Administration for future use. If you leave the company
or retire, you take your HSA funds
beneits in the past 3 months (unless your with you.
beneits are for a service-related disability)
If you enroll in an HSA, your carryover funds will be placed
into an HSA compatible Limited Purpose FSA plan. This will
allow you to maintain HSA eligibility while keeping your
healthcare FSA funds for vision and dental expenses.
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A health savings account (HSA) is a tax-favored personal savings account which works with your HSA plan.
HSA dollars can be used to pay for qualiied medical expenses such as deductibles, dental, and vision care.
For a complete list of qualiied medical expenses, visit https://healthequity.com/qme.
HSA Benefits Contributing to Your HSA
■ Funds always belong to you Upon enrolling in the HDHP/HSA medical plan,
■ Funds always roll over from year-to-year you can open a Health Savings Bank Account with
■ Lowers your taxable income HealthEquity.
HSA Triple Tax Savings The IRS limits the amount you can contribute to your
■ Tax deduction when you contribute to your HSA each year. At age 55+ you can contribute an
account additional $1,000 catch-up contribution per year.
■ Tax-free earnings through investment You can contribute 1/12th of the annual IRS
■ Tax-free withdrawal for qualiied medical contribution limit for each month you are enrolled
expenses in the HSA plan. If you are eligible to contribute
to an HSA on the irst day of the last month of the
You are Eligible to Open an tax year, you are considered eligible for the entire
HSA if year, provided you stay enrolled in an HSA the next
■ You are enrolled in an HSA medical plan tax year.
(qualiied high deductible health plan) 2022
■ You are not covered by your spouse’s health Coverage Tier IRS Annual Limit
plan, any other health plan, or lexible spending Employee $3,650
account Employee + Dependent(s) $7,300
■ You are not claimed as a dependent on
someone else’s tax return Saving Your HSA Funds
■ You are not enrolled in Medicare, TRICARE, or There is no “use it or lose it” rule. Any
TRICARE for Life unused money will remain in your HSA
■ You have not received Veterans Administration for future use. If you leave the company
or retire, you take your HSA funds
beneits in the past 3 months (unless your with you.
beneits are for a service-related disability)
If you enroll in an HSA, your carryover funds will be placed
into an HSA compatible Limited Purpose FSA plan. This will
allow you to maintain HSA eligibility while keeping your
healthcare FSA funds for vision and dental expenses.
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