Page 6 - Benefits Guide
P. 6
2019 Benefits Guide
HEALTH SAVINGS ACCOUNT
HSA Eligibility
You may open and contribute pre- (HSA)
tax to an HSA under the following
circumstances. A health savings account (HSA) is a tax-favored savings account which
z Enrolled in an IRS qualiied works in conjunction with your health plan coverage. HSA dollars can be
high deductible health plan used to pay for qualiied medical expenses such as deductibles, copays,
(HDHP) dental, and vision care. For a complete list of qualiied medical expenses
z Cannot be enrolled in a visit www.irs.gov in IRS Publication 502.
traditional PPO plan through
your spouse or other
employer sponsored plan HSA Major Benefits
options z Funds always belong to you
z Cannot be enrolled in a
Government sponsored z Funds always roll over from year to year
program (Medicare, Medicaid, Lowers your taxable income
Tricare, etc.) z
z Cannot have received VA
beneits within the last three HSA Triple Tax Savings
months (unless receiving z Tax deduction when you contribute to your account
beneits for a service related
disability) z Tax-free earnings through investment
z Cannot be claimed as a z Tax-free withdrawal for qualiied medical expenses
dependent on someone else’s
tax return [20XX] HSA Funding Limits
z Cannot have an HSA and Coverage Level Limit
healthcare FSA; your spouse Individual Coverage $3,500
cannot have a healthcare
FSA through his/her own Family Coverage $7,000
employer Age 55 or Older Contribute an additional $1,000 on top of these amounts
Opening an HSA
We partner with [Carrier/Bank] for our HSA program. You may open
an HSA by following the steps below. Visit www.[Carrier].com for more
information.
1. [insert details]
2. [insert details]
3. [insert details]
6
HEALTH SAVINGS ACCOUNT
HSA Eligibility
You may open and contribute pre- (HSA)
tax to an HSA under the following
circumstances. A health savings account (HSA) is a tax-favored savings account which
z Enrolled in an IRS qualiied works in conjunction with your health plan coverage. HSA dollars can be
high deductible health plan used to pay for qualiied medical expenses such as deductibles, copays,
(HDHP) dental, and vision care. For a complete list of qualiied medical expenses
z Cannot be enrolled in a visit www.irs.gov in IRS Publication 502.
traditional PPO plan through
your spouse or other
employer sponsored plan HSA Major Benefits
options z Funds always belong to you
z Cannot be enrolled in a
Government sponsored z Funds always roll over from year to year
program (Medicare, Medicaid, Lowers your taxable income
Tricare, etc.) z
z Cannot have received VA
beneits within the last three HSA Triple Tax Savings
months (unless receiving z Tax deduction when you contribute to your account
beneits for a service related
disability) z Tax-free earnings through investment
z Cannot be claimed as a z Tax-free withdrawal for qualiied medical expenses
dependent on someone else’s
tax return [20XX] HSA Funding Limits
z Cannot have an HSA and Coverage Level Limit
healthcare FSA; your spouse Individual Coverage $3,500
cannot have a healthcare
FSA through his/her own Family Coverage $7,000
employer Age 55 or Older Contribute an additional $1,000 on top of these amounts
Opening an HSA
We partner with [Carrier/Bank] for our HSA program. You may open
an HSA by following the steps below. Visit www.[Carrier].com for more
information.
1. [insert details]
2. [insert details]
3. [insert details]
6
