Page 7 - Nortek California Employee Guide

Nortek

How the HRA Works

When You Once Your HRA Once You Once You
Have a Account is Meet Your Meet The
Healthcare Depleted Deductible Out-of-Pocket
Expense You are responsible You pay a Maximum
You are responsible for paying your small portion of Nortek pays 100%
for copays . Any portion of the your expenses of your remaining
deductible and deductible amount . (coinsurance) till covered medical
coinsurance expenses you meet the out-of- expenses for the year.
are taken out of the pocket maximum.
funds available in the
HRA account irst.

Any Leftover Money in Your
HRA at the End of the Year
Automatically rolls over to the next year.

How the HSA Works

When You Whether You Once you Once You Meet
Have a Use Your HSA meet your The Out-of-
Healthcare Account or Pay deductible Pocket Max
Expense Out-of-Pocket You pay a Nortek pays 100%
You decide whether to You are responsible small portion of of your remaining
use your HSA funds or for paying the your expenses covered medical
pay out-of-pocket . deductible . (coinsurance) till expenses for the year.
you meet the out-of-
pocket maximum.

Any Leftover Want to Pay Your Deductible
Money in Your Tax-Free?
HSA at the End Make pre-tax contributions to your HSA. If
of the Year you don’t spend this money, it stays in your
Automatically rolls account and earns interest .
over to the next year.
You own the account and the money is yours
to keep if you leave or retire .

7