Page 15 - 2022 SoFi - Temp Intern Benefit Guide
P. 15
Plan Year Information How do I make contributions?
The HSA Plan Year begins January 1 through Contributions can be made:
December 31. Pre-Tax Contributions: Employees will make this
SoFi Contribution election in Workday. Instructions are available in
$30.77 per pay period for employee only coverage. the Workday Benefits Mall.
$61.54 per pay period if you enroll one or After-Tax Contributions: Online at myCigna.com
more dependents. by making a tax-deductible contribution from your
Contributions will be posted to your personal checking account. Deposits outside of
account biweekly. payroll that exceed the IRS annual maximum will
The HSA contribution amount is prorated and result in potential loss of SoFi contributions. Total
adjusted based on the number of pay periods contributions to your HSA account cannot exceed
left in the plan year which runs from January 1 the annual IRS limits.
to December 31. Cigna Choice Fund with WealthCare Saver
How much can I contribute to a Health — SoFi’s HSA
Savings Account? Employee payroll and SoFi contributions will be
You can elect up to the 2022 calendar effective first of the month following 90 days after
year maximum, as set by the IRS, of $3,650 hire and will be sent to Cigna Choice Fund HSA.
for individuals and $7,300 for families. All Once WealthCare Saver has established an
contributions include: account for you, you will receive a Welcome
Kit and Debit card for your new Cigna Choice
SoFi contributions Fund HSA.
Contributions under a prior HSA plan
Your contributions you elect to make under Paying with your HSA money is easy.
the SoFi plan Use your debit card to pay at the pharmacy,
Spouse’s/domestic partner’s contributions doctor’s office or elsewhere. You can also order
if you are enrolled in family coverage with extra cards for covered family members.
SoFi as well as family coverage under your Pay your bills for qualified medical expenses
spouse’s/domestic partner’s plan online at myCigna.com.
Pay out of pocket and reimburse yourself. You
Please contact your tax professional for
specific questions. can do that online or by withdrawing money
People over the age of 55 can make with your debit card from any ATM with the
®
additional“catch-up” contributions of $1,000. MasterCard logo.
15
