Page 10 - 2018 Sulzer (Chemtech Mixpac) Benefit Guide
P. 10
Health Savings Account (HSA)
If you enroll in the HDHP 2500 plan Sulzer HSA Major Benefits
will match every dollar you contribute to your X Funds always belong to you
HSA up to the limits shown to the right. An X Funds always roll over to use the following year, no “use
HSA is a tax-favored savings account which it or lose it”
works in conjunction with your health plan
coverage. HSA dollars can be used to pay for X Lowers your taxable income
qualiied medical expenses such as deductibles, X Funds are contributed tax free, grow tax free, and may be
copays, dental, and vision care. For a complete used tax free for eligible expenses
list of qualiied medical expenses visit Newly Hired Employees—Contribution Limits
www.irs.gov to view IRS Publication 502.
If you enroll mid-year, you may need to pro-rate your
Health Savings Account Match personal contribution limit to the number of months you
will be enrolled in an HDHP. If you are enrolled through the
Sulzer 2018 Matching HSA entire next calendar year, there is no need to pro-rate.
Funding Limits
HDHP 2500*
Employee Only $600 To pro-rate, take the total allowed annual contribution based
Employee and Spouse $1,800 on your coverage level, multiply it by the number of months
Employee and Child(ren) $1,800
Employee and Family $1,800 in the year you qualify, then divide the amount by 12. For
* Prorated based on the number of months remaining in the example, you enroll in the HSA on April 1, your annual
calendar year following your enrollment date.
contribution limit is: 3,450 × 9 ÷ 12 = 2,587.50.
2018 HSA Funding Limits
Coverage Level Limit Make sure you consider your HSA contributions during
Individual Coverage $3,450 your time at your previous employer as you are making your
Family Coverage $6,900
Age 55 or Older Contribute an additional $1,000 elections at Sulzer. The annual maximum is a personal annual
on top of these amounts maximum and does not reset when you change plans midyear.
HSA Eligibility
You may open and contribute pre- X Cannot be enrolled in a Government X Cannot have an HSA and healthcare
tax to an HSA under the following sponsored program (Medicare, FSA; your spouse cannot have a
circumstances. Medicaid, Tricare, etc.) healthcare FSA through his/her own
employer
X Enrolled in an IRS qualiied high X Cannot have received VA beneits
deductible health plan (HDHP) within the last three months (unless X You cannot contribute to an HSA if
receiving beneits for a service you have elected Medicare Part A,
X Cannot be enrolled in a traditional related disability) B, or D
PPO plan through your spouse or
other employer sponsored plan X Cannot be claimed as a dependent X You cannot contribute to an HSA
options on someone else’s tax return if you are receiving Social Security
retirement beneits
10 2018 Benefits Enrollment
If you enroll in the HDHP 2500 plan Sulzer HSA Major Benefits
will match every dollar you contribute to your X Funds always belong to you
HSA up to the limits shown to the right. An X Funds always roll over to use the following year, no “use
HSA is a tax-favored savings account which it or lose it”
works in conjunction with your health plan
coverage. HSA dollars can be used to pay for X Lowers your taxable income
qualiied medical expenses such as deductibles, X Funds are contributed tax free, grow tax free, and may be
copays, dental, and vision care. For a complete used tax free for eligible expenses
list of qualiied medical expenses visit Newly Hired Employees—Contribution Limits
www.irs.gov to view IRS Publication 502.
If you enroll mid-year, you may need to pro-rate your
Health Savings Account Match personal contribution limit to the number of months you
will be enrolled in an HDHP. If you are enrolled through the
Sulzer 2018 Matching HSA entire next calendar year, there is no need to pro-rate.
Funding Limits
HDHP 2500*
Employee Only $600 To pro-rate, take the total allowed annual contribution based
Employee and Spouse $1,800 on your coverage level, multiply it by the number of months
Employee and Child(ren) $1,800
Employee and Family $1,800 in the year you qualify, then divide the amount by 12. For
* Prorated based on the number of months remaining in the example, you enroll in the HSA on April 1, your annual
calendar year following your enrollment date.
contribution limit is: 3,450 × 9 ÷ 12 = 2,587.50.
2018 HSA Funding Limits
Coverage Level Limit Make sure you consider your HSA contributions during
Individual Coverage $3,450 your time at your previous employer as you are making your
Family Coverage $6,900
Age 55 or Older Contribute an additional $1,000 elections at Sulzer. The annual maximum is a personal annual
on top of these amounts maximum and does not reset when you change plans midyear.
HSA Eligibility
You may open and contribute pre- X Cannot be enrolled in a Government X Cannot have an HSA and healthcare
tax to an HSA under the following sponsored program (Medicare, FSA; your spouse cannot have a
circumstances. Medicaid, Tricare, etc.) healthcare FSA through his/her own
employer
X Enrolled in an IRS qualiied high X Cannot have received VA beneits
deductible health plan (HDHP) within the last three months (unless X You cannot contribute to an HSA if
receiving beneits for a service you have elected Medicare Part A,
X Cannot be enrolled in a traditional related disability) B, or D
PPO plan through your spouse or
other employer sponsored plan X Cannot be claimed as a dependent X You cannot contribute to an HSA
options on someone else’s tax return if you are receiving Social Security
retirement beneits
10 2018 Benefits Enrollment
