Page 14 - SC Fuels EE Guide 2020 National

HIGH DEDUCTIBLE
SAVINGS

HEALTH PLAN

The opportunity to establish and contribute to a Health
Savings Account is available when you elect the HDHP Examples of
PPO medical plan option. It’s like a personal, tax-free Eligible HSA Expenses
savings account for health care expenses that earns
interest. Any unused money rolls over from year to year.
• Providers (Doctors, Nurses)
In 2020, SC Fuels will make the following HSA • Prescription Drugs
contributions into your account: • Inpatient Hospital Services
• Team Member: $25.00/Paycheck | $600/Year Total • Laboratory & X-Ray
• Family: $41.67/Paycheck | $1,000/Year Total MEDICAL • Emergency Services
• Acupuncture / Chiropractic
In addition to SC Fuels’ contribution, you may elect
to make contributions into your account up to IRS
maximums. IRS maximums for 2020 are:
• Team Member: $3,550
• Family: $7,100 • Providers (Dentists)
• Catch-up if you are 55 years of age or older: $1,000 • Teeth Cleaning
• Dental Treatment
The portion of your paycheck that you contribute to DENTAL • Orthodontia
your HSA will be taken out before you pay federal
income taxes, Social Security taxes and most state
taxes (excluding state taxes in AL, CA and NJ). Any
contributions you make can be increased or decreased
over the course of the year. • Providers (Optometrists,
Ophthalmologists)
The money in your HSA is yours to save and spend on • Exams
eligible health care expenses whenever you need it, • Glasses
whether in this plan year or in future plan years. Your VISION • Contact Lenses
account balance earns interest and the unused balance • Lasik Surgery
rolls-over from year to year. The money is yours to keep
even if you leave SC Fuels, no longer participate in a high
deductible health plan (like the HDHP PPO), or retire.

Please Note: There is a $2.00 PIN charge that can be • COBRA
avoided by selecting “Credit” at the point of sale vs. debit • Long-Term Care
and entering a PIN number.
PREMIUMS • Medicare

Examples of
Ineligible HSA Expenses
Educational Video
Health Savings Accounts Ineligible HSA expenses include expenses that are
http://video.burnhambenefits.com/hdhp/ not medical or health-related as well as cosmetic
surgery.

14 | TEAM MEMBER BENEFITS