Page 9 - iFly Employee Benefit Guide 2019

Benefits

Health Savings Account

How the Health Savings Account (HSA) Works
The opportunity to establish and contribute to a Health Savings Account is available when you HSA
elect the HSA medical plan op on. It’s like a personal, tax‐free savings account for health care
expenses that earns interest. Any unused money rolls over from year to year.

In 2019, iFLY will contribute $500 to your Health Savings
Account if you are enrolled in the HSA Medical Plan.
Examples of
In addi on to the company contribu on, you may elect to Eligible HSA Expenses
make contribu ons into your account not to exceed the
following amounts (both employer and employee
contribu ons):  Providers (Doctors, Specialists,
 Employee: $3,500 Nurses)
 Family: $7,000  Prescrip on Drugs
 Catch‐up if you are 55 years of age or older: $1,000  Inpa ent Hospital Services
 Laboratory & X‐Ray
The por on of your paycheck that you contribute to your MEDICAL  Emergency Services
HSA will be taken out before you pay federal income taxes,  Acupuncture / Chiroprac c
Social Security taxes and most state taxes (excluding state
taxes in AL, CA and NJ). Any contribu ons you make can be
increased or decreased over the course of the year.

You can decide how to manage your money. The money in  Providers (Den sts,
Specialists, Orthodon sts)
your HSA is yours to save and spend on eligible health care 
expenses whenever you need it, whether in this plan year DENTAL Teeth Cleaning
or in future plan years. You can use the funds in your  Dental Treatment
account to pay tax‐free for qualifying out‐of‐pocket  Orthodon a
Medical, Dental and Vision expenses such as deduc bles,
coinsurance and copays. Your account balance earns
interest and the unused balance rolls‐over from year to 
year. The money is yours to keep even if you leave iFLY, no Providers (Optometrists,
Ophthalmologists)
longer par cipate in a high deduc ble health plan (like the  Exams
HSA Medical Plan), or re re. You may con nue to make  Glasses
contribu ons to your HSA if you enroll in another qualified VISION  Contact Lenses
high deduc ble health plan, or elect COBRA con nua on  Lasik Surgery
coverage of your HSA PPO coverage if your employment
terminates.

Please note that in order to receive the $500 employer
contribu on which is deposited monthly into your account,
you will need to have an Health Savings Account open with  COBRA
Optum Bank. You will receive a Welcome Kit and Debit  Long‐Term Care
Card from Optum Bank, and may be asked to confirm your PREMIUMS  Medicare
account and personal informa on.

Examples of
Ineligible HSA Expenses
Contacting Optum Bank
Ineligible HSA expenses include expenses that are not
Go to: www.optumbank.com or call Member Services
at (866) 234‐8913. medical or health related as well as cosme c surgery.

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