Page 7 - California Steel EE Guide 01-19

BENEFITS

Medical Insurance and Prescription Drugs

How the Health Savings Account (HSA) Works

The opportunity to establish and contribute to a Health Savings Account is available when you
elect the HSA PPO medical plan option. 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, CSI will make the following monthly contributions
into your HSA account:
• Employee: $70 Examples of
• Family: $140
Eligible HSA Expenses
In addition to CSI’s contribution, you may elect to make
contributions into your account up to IRS maximums. IRS • Providers (Doctors, Specialists,
maximums for 2019 are: Nurses)
• Employee: $3,500 • Prescription Drugs
• Family: $7,000 • Inpatient Hospital Services
• Catch-up if you are 55 years of age or older: $1,000 • Laboratory & X-Ray
MEDICAL • Emergency Services
The portion of your paycheck that you contribute to your • Acupuncture / Chiropractic
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 (Dentists,
Specialists, Orthodontists)
You can decide how to manage your money. The money in • Teeth Cleaning
your HSA is yours to save and spend on eligible health care DENTAL • Dental Treatment
expenses whenever you need it, whether in this plan year •
or in future plan years. You can use the funds in your Orthodontia
account to pay tax-free for qualifying out-of-pocket
Medical, Dental and Vision expenses such as deductibles,
coinsurance and copays. Your account balance earns • Providers (Optometrists,
interest and the unused balance rolls-over from year to Ophthalmologists)
year. The money is yours to keep even if you leave CSI, no • Exams
longer participate in a high deductible health plan (like the • Glasses
HSA PPO), or retire. You may continue to make VISION • Contact Lenses
contributions to your HSA if you enroll in another qualified • Lasik Surgery
high deductible health plan, or elect COBRA continuation
coverage of your HSA PPO coverage if your employment
terminates.

About HSA Bank • COBRA
HSA Bank is the administrator of our HSA plan through CSI. • Long-Term Care
When you enroll in the HSA PPO plan, a tax advantaged • Medicare
Health Savings Account (HSA) can be created for you. Fill PREMIUMS
out an enrollment form and HR will send it over to HSA
Bank for you. The HSA member website gives you 24/7
online access to manage your account. You can check your Examples of
balance and account activity, make an HSA transaction, set
up a HealthCare savings goal and have access to myHealth Ineligible HSA Expenses
Portfolio.
Ineligible HSA expenses include expenses that are not
medical or health related as well as cosmetic surgery.

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