Page 9 - 2018-19 Optimas Enrollment
P. 9
Optimas
HEALTH SAVINGS ACCOUNT (HSA)
Both medical plans allow you to establish an HSA. An HSA is a tax-favored Optimas Annual HSA
savings account which works in conjunction with your health plan coverage. Contribution
HSA dollars can be used to pay for qualified medical expenses such as If you contribute to the HSA in the
deductibles, copays, dental, and vision care. For a complete list of qualified 2018–19 plan year, Optimas will
medical expenses visit www.irs.gov in IRS Publication 502. match employee contributions dollar
for dollar up to $500. Matching will
Optum Bank will open your HSA account and send a welcome kit with your be deposited into your HSA at the
Optum Bank HSA debit card. You will be contacted if any questions arise end of the plan year. You must be
while opening your account. You must respond to any requests to open your employed at time of matching to
account. receive.
If you have questions regarding HSAs, you can contact Optum Bank by calling
866.234.8913 and providing group number 76-413473. Registered users can
also log into www.optumbank.com and access account information. HSA
Reimbursement
HSA Major Benefits
Please keep in mind you may
Funds always belong to you even if you retire or leave the company only use your HSA funds to
Funds always roll over to use the following year reimburse yourself for eligible
expenses incurred after your
Lowers your taxable income HSA account is opened.
HSA Triple Tax Savings
Tax deduction when you contribute to your account
Tax-free earnings through investment
Tax-free withdrawal for qualified medical expenses
The IRS regulates how much you can contribute to your HSA each year.
2018 Annual HSA Funding Limits
Individual $3,450
Family $6,900
Age 55 or Older Contribute an additional $1,000 on top of
these amounts
You have the ability to adjust your HSA contribution at any time by logging
into UltiPro and requesting a change. The change will be effective within 1–2
pay periods following the request.
9
HEALTH SAVINGS ACCOUNT (HSA)
Both medical plans allow you to establish an HSA. An HSA is a tax-favored Optimas Annual HSA
savings account which works in conjunction with your health plan coverage. Contribution
HSA dollars can be used to pay for qualified medical expenses such as If you contribute to the HSA in the
deductibles, copays, dental, and vision care. For a complete list of qualified 2018–19 plan year, Optimas will
medical expenses visit www.irs.gov in IRS Publication 502. match employee contributions dollar
for dollar up to $500. Matching will
Optum Bank will open your HSA account and send a welcome kit with your be deposited into your HSA at the
Optum Bank HSA debit card. You will be contacted if any questions arise end of the plan year. You must be
while opening your account. You must respond to any requests to open your employed at time of matching to
account. receive.
If you have questions regarding HSAs, you can contact Optum Bank by calling
866.234.8913 and providing group number 76-413473. Registered users can
also log into www.optumbank.com and access account information. HSA
Reimbursement
HSA Major Benefits
Please keep in mind you may
Funds always belong to you even if you retire or leave the company only use your HSA funds to
Funds always roll over to use the following year reimburse yourself for eligible
expenses incurred after your
Lowers your taxable income HSA account is opened.
HSA Triple Tax Savings
Tax deduction when you contribute to your account
Tax-free earnings through investment
Tax-free withdrawal for qualified medical expenses
The IRS regulates how much you can contribute to your HSA each year.
2018 Annual HSA Funding Limits
Individual $3,450
Family $6,900
Age 55 or Older Contribute an additional $1,000 on top of
these amounts
You have the ability to adjust your HSA contribution at any time by logging
into UltiPro and requesting a change. The change will be effective within 1–2
pay periods following the request.
9
