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