Page 4 - 2015 Saint Louis University Benefits Guide
P. 4
Saint Louis University
Tax Favored Health Accounts
Both the Health Flexible Spending Account (FSA) and the Health Savings Account (HSA) will continue to be
offered in 2015. Below is a quick comparison between the two accounts. For additional information on the HSA,
please see the supplemental open enrollment communication piece. While not outlined below, the Dependent
Care FSA will continue to be offered through ConnectYourCare with no changes to the contribution limit of
$5,000. Please note the “use it or lose it” rule applies to both the Health FSA and the Dependent Care FSA.
This means money set aside in the FSA accounts must be spent by the end of the plan year. Receipts for eligible
expenses must be submitted to ConnectYourCare no later than March 31, 2015.
FSA
If you enroll in
the Plus Plan (or You can contribute
no medical plan The Health FSA up to $2,500 pre- Saint Louis
at Saint Louis will continue to be tax per calendar University does
University), you are administered by year not contribute to
eligible to contribute ConnectYourCare (Maximum set by the Health FSA
to the Health FSA PPACA)
The money must You can use this money
Please make your If you leave Saint be used during the to pay for eligible
election for 2015; Louis University, plan year—“use it medical, Rx, dental
current elections will you cannot take this or lose it” applies and vision expenses
not carry forward! account with you (exception for the throughout the year
grace period)
HSA
Saint Louis
If you enroll in the The HSA will You may contribute University will
continue the seed
QHDHP and meet continue to be up to $3,350 for money this year:
all the eligibility administered by single coverage and Single: $250
requirements set OptumHealth, or $6,650 for family Family: $500
by the IRS, you are a bank of your coverage pre-tax in (OptumHealth
eligible to contribute choosing* 2015 account holders
to the HSA only)
You can use this money
to pay for eligible
An election is If you leave Saint Unused funds can medical, Rx, dental
required for 2015; Louis University, you be rolled over to and vision expenses
current elections will take the account next year—no “use throughout the year.
not carry forward! with you it or lose it” rule There are several more
eligible items—see
supplemental lyer
* Please note if you decide to go to a bank of your choosing, you will not be eligible to receive the University seed money.
4
Tax Favored Health Accounts
Both the Health Flexible Spending Account (FSA) and the Health Savings Account (HSA) will continue to be
offered in 2015. Below is a quick comparison between the two accounts. For additional information on the HSA,
please see the supplemental open enrollment communication piece. While not outlined below, the Dependent
Care FSA will continue to be offered through ConnectYourCare with no changes to the contribution limit of
$5,000. Please note the “use it or lose it” rule applies to both the Health FSA and the Dependent Care FSA.
This means money set aside in the FSA accounts must be spent by the end of the plan year. Receipts for eligible
expenses must be submitted to ConnectYourCare no later than March 31, 2015.
FSA
If you enroll in
the Plus Plan (or You can contribute
no medical plan The Health FSA up to $2,500 pre- Saint Louis
at Saint Louis will continue to be tax per calendar University does
University), you are administered by year not contribute to
eligible to contribute ConnectYourCare (Maximum set by the Health FSA
to the Health FSA PPACA)
The money must You can use this money
Please make your If you leave Saint be used during the to pay for eligible
election for 2015; Louis University, plan year—“use it medical, Rx, dental
current elections will you cannot take this or lose it” applies and vision expenses
not carry forward! account with you (exception for the throughout the year
grace period)
HSA
Saint Louis
If you enroll in the The HSA will You may contribute University will
continue the seed
QHDHP and meet continue to be up to $3,350 for money this year:
all the eligibility administered by single coverage and Single: $250
requirements set OptumHealth, or $6,650 for family Family: $500
by the IRS, you are a bank of your coverage pre-tax in (OptumHealth
eligible to contribute choosing* 2015 account holders
to the HSA only)
You can use this money
to pay for eligible
An election is If you leave Saint Unused funds can medical, Rx, dental
required for 2015; Louis University, you be rolled over to and vision expenses
current elections will take the account next year—no “use throughout the year.
not carry forward! with you it or lose it” rule There are several more
eligible items—see
supplemental lyer
* Please note if you decide to go to a bank of your choosing, you will not be eligible to receive the University seed money.
4
