Page 9 - Ria Benefits Guide 2020 FINAL CO

HEALTH SAVINGS ACCOUNT (HSA)

The opportunity to establish and contribute to a Health Savings EXAMPLES OF
Account is available when you elect the Aetna HDHP medical plan ELIGIBLE HSA EXPENSES
with HSA option. It’s like a personal, tax-free savings account for
health care expenses that earns interest. Any unused money rolls over • Providers (Doctors,
from year to year. Nurses)
• Prescription Drugs
In 2020, Ria will make a monthly contribution to your HSA account : MEDICAL • Inpatient Hospital
Services
• Employee: $50 • Laboratory & X-Ray
• Family: $50

In addition to Ria’s contribution, you may elect to make contributions • Providers (Dentists,
into your account up to IRS maximums. IRS maximums for 2020 are: Orthodontists)
• Employee: $3,550 DENTAL • Teeth Cleaning
•
Dental Treatment
• Family: $7,100 • Orthodontia
• Catch-up (Age 55+): $1,000

The portion of your paycheck that you contribute to your HSA will be • Providers
(Optometrists,
taken out before you pay federal income taxes, Social Security taxes Ophthalmologists)
and most state taxes (excluding state taxes in AL, CA and NJ). Any VISION • Exams
contributions you make can be increased or decreased over the • Glasses
course of the year. • Contact Lenses

The money in your HSA is yours to save and spend on eligible health
care expenses whenever you need it, whether in this plan year or in • COBRA
future plan years. Your account balance earns interest and the unused • Long-Term Care
balance rolls-over from year to year. The money is yours to keep even PREMIUMS • Medicare
if you leave Ria, no longer participate in a high deductible health plan
(like the Aetna HSA Plan) or retire.

PAY THE PAYFLEX WAY
Once funds are available in your HSA, PayFlex makes it easy to pay for your eligible expenses.
• Use the PayFlex Card®, your account debit card: When you use the PayFlex debit card, your expense is automatically paid
from your account.
• Pay yourself back: Pay for eligible expenses with cash, check or your personal credit card. Then withdraw funds from your HSA to
pay yourself back. You can even have your payment deposited directly into your checking or savings account.

EDUCATIONAL VIDEO:
HIGH DEDUCTIBLE HEALTH PLANS & HSA

http://video.burnhambenefits.com/hdhp/

RIA EMPLOYEE BENEFITS 2020 9