Page 13 - 2018 Intertek OE Main Guide
P. 13
2018 Benefits Enrollment
Health Savings Account
What is a Health Savings Account?
An HSA is a tax-favored account you can use to pay for eligible current
and future healthcare expenses with tax-free dollars. You must enroll
in the Consumer Driven Health Plan (CDHP) to be eligible to open a
HSA. There is no use it lose it rule. Any unused money will remain in
your HSA for future use.
Intertek does not own the account. You own the account. If you leave
the company, you keep the funds. If you choose to make contributions
to your HSA on a pre-tax basis, the company may also contribute to
your account.
You Need to Know Funds may be withdrawn at any time to pay for qualiied medical
You must enroll in the CDHP expenses tax-free for most medical, dental, and vision care.
coverage option under the Intertek
health plan to be eligible to open a HSA expenses can be incurred by you, your spouse, and dependents
HSA claimed on your personal tax return even if the dependents are not
If you enroll in the CDHP, you will enrolled in the CDHP plan. For a complete list of eligible expenses,
receive a welcome kit outlining how to please refer to the HSA page on wageworks.com or IRS Publication
manage, contribute to, and use your 502 at irs.gov.
HSA
For 2018, Intertek will contribute Funding Your Account
a pro-rated amount up to $500 based
on your date of hire, as long as you You may contribute up to the amounts listed in the chart below.
contribute the minimum toward your
account Coverage Tier Contribution
Download the WageWorks mobile IRS Annual Limit Intertek* Your Maximum**
app from your smartphone’s app store Employee $3,450 $500 $2,950
to manage your account online Employee + 1 or family $6,900 $500 $6,400
Before Intertek will make any contributions for the year, you must contribute the minimum amount
of $120. If you leave the company, you may not receive all employer contributions for the year.
* This is the 2018 contribution from Intertek. Each year, at annual enrollment, Intertek will
announce whether and in what amount, it will contribute to employee accounts the following
year.
** Individuals age 55 and older or individuals who reach age 55 by December 31, 2018 can
make a catch-up contribution of up to $1,000.
Employee contributions are divided by the 26 pay periods and Intertek’s matching contributions
are also based on 26 pay periods. If an employee stops contributing but has met the minimum of
$120 in contributions, Intertek will continue to provide the full annual match.
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Health Savings Account
What is a Health Savings Account?
An HSA is a tax-favored account you can use to pay for eligible current
and future healthcare expenses with tax-free dollars. You must enroll
in the Consumer Driven Health Plan (CDHP) to be eligible to open a
HSA. There is no use it lose it rule. Any unused money will remain in
your HSA for future use.
Intertek does not own the account. You own the account. If you leave
the company, you keep the funds. If you choose to make contributions
to your HSA on a pre-tax basis, the company may also contribute to
your account.
You Need to Know Funds may be withdrawn at any time to pay for qualiied medical
You must enroll in the CDHP expenses tax-free for most medical, dental, and vision care.
coverage option under the Intertek
health plan to be eligible to open a HSA expenses can be incurred by you, your spouse, and dependents
HSA claimed on your personal tax return even if the dependents are not
If you enroll in the CDHP, you will enrolled in the CDHP plan. For a complete list of eligible expenses,
receive a welcome kit outlining how to please refer to the HSA page on wageworks.com or IRS Publication
manage, contribute to, and use your 502 at irs.gov.
HSA
For 2018, Intertek will contribute Funding Your Account
a pro-rated amount up to $500 based
on your date of hire, as long as you You may contribute up to the amounts listed in the chart below.
contribute the minimum toward your
account Coverage Tier Contribution
Download the WageWorks mobile IRS Annual Limit Intertek* Your Maximum**
app from your smartphone’s app store Employee $3,450 $500 $2,950
to manage your account online Employee + 1 or family $6,900 $500 $6,400
Before Intertek will make any contributions for the year, you must contribute the minimum amount
of $120. If you leave the company, you may not receive all employer contributions for the year.
* This is the 2018 contribution from Intertek. Each year, at annual enrollment, Intertek will
announce whether and in what amount, it will contribute to employee accounts the following
year.
** Individuals age 55 and older or individuals who reach age 55 by December 31, 2018 can
make a catch-up contribution of up to $1,000.
Employee contributions are divided by the 26 pay periods and Intertek’s matching contributions
are also based on 26 pay periods. If an employee stops contributing but has met the minimum of
$120 in contributions, Intertek will continue to provide the full annual match.
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