Page 18 - 2015 Four Seasons Sante Fe/Vail Enrollment Guide
P. 18
Do Spend Your HSAs: Frequently Asked Questions
HSA Dollars Here Do I have to contribute No, you will receive a contribution by enrolling in the HSA Plan
to receive a Four
and having an HSA successfully opened.
Seasons’ contribution?
How can I make For regular payroll contributions, log on or contact the My Four
VISION contributions to my Seasons Beneits Center. For a one-time or non-regular payroll
HSA? deduction, speak to your Paymaster.
What if I over To avoid penalties on excess contributions, you must contact
contribute to my HSA? Cigna at 1.800.420.1830 and request that the year’s excess
contributions and related earnings be reversed before the last
day to ile federal income taxes for the year, generally April 15.
DENTAL Can I change/cancel Yes, you can change or cancel your payroll deductions by
my payroll deductions logging on or calling the My Four Seasons Beneits Center at
at anytime? 1-866-672-0435.
How do I activate To active your HSA debit card, visit www.mycigna.com or call
my HSA debit card or 1.866.295.9173. You can view and manage your account activity
MEDICAL access my account? on the website.
How many debit cards You will automatically receive one card once the account is
will I get? successfully opened. To order additional cards, you must contact
Cigna at 1.800.420.1830. You are entitled to a total of two cards
free of charge. After that it’s $5 for each additional card.
Don’t Spend Who do I contact for For questions relating to your HSA, contact Cigna at
questions regarding my 1.800.420.1830.
Your HSA Dollars HSA?
Here What happens to my When you leave Four Seasons, you take the money with you.
HSA when I leave Four
Chase will move your account from the Four Seasons group
Seasons? plan to an individual plan, and you will be required to pay for all
administration costs. You do not have to open an account with
Chase. You can move your HSA to the inancial institution of your
choice.
DINING What happens if I don’t All unused money in your HSA carries over into the next year
spend all of the money and continues to accrue interest. If you have money in the HSA
in my HSA in one year? investment account, it will also remain in that account from year
to year.
What do I need to Each year, Chase will send you and the IRS two tax forms.
know in terms of tax IRS Form 5498-SA reports all contributions to your HSA in the
HOME SUPPLIES reporting and my HSA? applicable tax year. This form also includes any interest earned.
IRS Form 1099-SA reports all distributions from your HSA. You can
also view these tax statements online at www.myCigna.com.
The IRS requires that you complete and submit IRS Form 8889:
Health Savings Accounts with your tax return. On this form, you
report any employer contributions to the account, as well as any
NON-QUALIFIED additional contributions you or your spouse have made. This form
MEDICAL EXPENSES How and when can I will help you calculate your HSA deduction. Please contact your
tax advisor to discuss your speciic tax situation.
You can access your funds the following ways: debit card, online,
= access my funds? automatic claim forwarding (ACF) or write checks.
Generally, the funds are available immediately after the ADP
payroll run but it can take up to one or two business day.
What can I use HSA
eligible by the IRS); common examples include your medical
savings to pay for? HSA savings can only be used for eligible expenses (deemed
deductible and coinsurance, some dental and vision expenses,
Colour Elements or Medicare premiums.
EXPENSES 20% TAX What’s considered an Your HSA cannot pay for things like food, home supplies, clothing,
TAXED + PENALTY “ineligible expense?” or non-qualiied medical expenses; the IRS has a comprehensive
list of eligible and ineligible expenses available at www.irs.gov.
What happens when Using your HSA funds for non-qualiied expenses will result in the
I use HSA funds for expenses being taxed at your income tax rate PLUS 20% tax
Logo & Logo Variations ineligible expenses? penalty!
My Four Seasons BENEFITS My Four Seasons 18
BENEFITS
Icon Image Elements Font Elements
Tandelle
Century Gothic
HSA Dollars Here Do I have to contribute No, you will receive a contribution by enrolling in the HSA Plan
to receive a Four
and having an HSA successfully opened.
Seasons’ contribution?
How can I make For regular payroll contributions, log on or contact the My Four
VISION contributions to my Seasons Beneits Center. For a one-time or non-regular payroll
HSA? deduction, speak to your Paymaster.
What if I over To avoid penalties on excess contributions, you must contact
contribute to my HSA? Cigna at 1.800.420.1830 and request that the year’s excess
contributions and related earnings be reversed before the last
day to ile federal income taxes for the year, generally April 15.
DENTAL Can I change/cancel Yes, you can change or cancel your payroll deductions by
my payroll deductions logging on or calling the My Four Seasons Beneits Center at
at anytime? 1-866-672-0435.
How do I activate To active your HSA debit card, visit www.mycigna.com or call
my HSA debit card or 1.866.295.9173. You can view and manage your account activity
MEDICAL access my account? on the website.
How many debit cards You will automatically receive one card once the account is
will I get? successfully opened. To order additional cards, you must contact
Cigna at 1.800.420.1830. You are entitled to a total of two cards
free of charge. After that it’s $5 for each additional card.
Don’t Spend Who do I contact for For questions relating to your HSA, contact Cigna at
questions regarding my 1.800.420.1830.
Your HSA Dollars HSA?
Here What happens to my When you leave Four Seasons, you take the money with you.
HSA when I leave Four
Chase will move your account from the Four Seasons group
Seasons? plan to an individual plan, and you will be required to pay for all
administration costs. You do not have to open an account with
Chase. You can move your HSA to the inancial institution of your
choice.
DINING What happens if I don’t All unused money in your HSA carries over into the next year
spend all of the money and continues to accrue interest. If you have money in the HSA
in my HSA in one year? investment account, it will also remain in that account from year
to year.
What do I need to Each year, Chase will send you and the IRS two tax forms.
know in terms of tax IRS Form 5498-SA reports all contributions to your HSA in the
HOME SUPPLIES reporting and my HSA? applicable tax year. This form also includes any interest earned.
IRS Form 1099-SA reports all distributions from your HSA. You can
also view these tax statements online at www.myCigna.com.
The IRS requires that you complete and submit IRS Form 8889:
Health Savings Accounts with your tax return. On this form, you
report any employer contributions to the account, as well as any
NON-QUALIFIED additional contributions you or your spouse have made. This form
MEDICAL EXPENSES How and when can I will help you calculate your HSA deduction. Please contact your
tax advisor to discuss your speciic tax situation.
You can access your funds the following ways: debit card, online,
= access my funds? automatic claim forwarding (ACF) or write checks.
Generally, the funds are available immediately after the ADP
payroll run but it can take up to one or two business day.
What can I use HSA
eligible by the IRS); common examples include your medical
savings to pay for? HSA savings can only be used for eligible expenses (deemed
deductible and coinsurance, some dental and vision expenses,
Colour Elements or Medicare premiums.
EXPENSES 20% TAX What’s considered an Your HSA cannot pay for things like food, home supplies, clothing,
TAXED + PENALTY “ineligible expense?” or non-qualiied medical expenses; the IRS has a comprehensive
list of eligible and ineligible expenses available at www.irs.gov.
What happens when Using your HSA funds for non-qualiied expenses will result in the
I use HSA funds for expenses being taxed at your income tax rate PLUS 20% tax
Logo & Logo Variations ineligible expenses? penalty!
My Four Seasons BENEFITS My Four Seasons 18
BENEFITS
Icon Image Elements Font Elements
Tandelle
Century Gothic
