Page 17 - 2016 Enrollment
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HRA vs. HSA Medical Plan
Eligibility—Which Medical Plan Have You
Elected?*
In the HRA Medical Plan…
HRA participants can participate in the company’s FSA to apply pretax
dollars to healthcare and dependent child care expenses during the plan
year. The HRA will reimburse all eligible expenses in the medical plan
before the FSA does. In addition, you can use your FSA to cover copays
and non-covered dental and vision expenses. Planning for any dependent
child care expenses will not be affected at all by the HRA. Consider those
savings as you would in any other plan year. Remember, any dollars you
don’t use from your FSA account savings are forfeited each year; use it or
lose it.
In the HSA Medical Plan…
IRS rules prohibit an employee from having a healthcare FSA and an
HSA at the same time. In order to fund and use an HSA beginning
January 1, 2016, you cannot have a balance in a healthcare FSA after
December 31, 2015. In addition, you may not contribute to an HSA
while your spouse is contributing to an FSA through his or her employer.
Conversely, a spouse may not contribute to an FSA while you are
contributing to an HSA. The IRS requires participants in the HSA plan
to use only the HSA plan for healthcare expenses. HSA participants can
contribute to the dependent care FSA for dependent care expenses. If
you are accustomed to using the FSA for healthcare related expenses,
redirect those dollars for 2016 as voluntary contributions into your HSA
account and use the dependent care FSA for dependent care expenses.
* Please note you do not have to elect medical plan coverage to participate in the FSA
programs. You can elect to participate in this program without electing any other coverage
options in Shape Technologies beneits program.
2016 Benefits Guide
HRA vs. HSA Medical Plan
Eligibility—Which Medical Plan Have You
Elected?*
In the HRA Medical Plan…
HRA participants can participate in the company’s FSA to apply pretax
dollars to healthcare and dependent child care expenses during the plan
year. The HRA will reimburse all eligible expenses in the medical plan
before the FSA does. In addition, you can use your FSA to cover copays
and non-covered dental and vision expenses. Planning for any dependent
child care expenses will not be affected at all by the HRA. Consider those
savings as you would in any other plan year. Remember, any dollars you
don’t use from your FSA account savings are forfeited each year; use it or
lose it.
In the HSA Medical Plan…
IRS rules prohibit an employee from having a healthcare FSA and an
HSA at the same time. In order to fund and use an HSA beginning
January 1, 2016, you cannot have a balance in a healthcare FSA after
December 31, 2015. In addition, you may not contribute to an HSA
while your spouse is contributing to an FSA through his or her employer.
Conversely, a spouse may not contribute to an FSA while you are
contributing to an HSA. The IRS requires participants in the HSA plan
to use only the HSA plan for healthcare expenses. HSA participants can
contribute to the dependent care FSA for dependent care expenses. If
you are accustomed to using the FSA for healthcare related expenses,
redirect those dollars for 2016 as voluntary contributions into your HSA
account and use the dependent care FSA for dependent care expenses.
* Please note you do not have to elect medical plan coverage to participate in the FSA
programs. You can elect to participate in this program without electing any other coverage
options in Shape Technologies beneits program.
2016 Benefits Guide
