Page 14 - GESMN 2019 Benefits Enrollment Guide
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Using Your HSA Funds Contributions to the HSA
When you set up your HSA GESMN will make a contribution each pay period to your HSA if the
account, you will receive a debit following criteria are met:
card to use to pay for eligible ➢ You are enrolled in the $2,700 or $3,000 high deductible medical plan.
health care expenses. You
choose when to use your HSA ➢ You are eligible to participate in the HSA.
funds and can choose to save ➢ You have opened a health savings account (HSA) with Associated Bank.
them for the future. Funds
accumulate year after year; there
If you do not open your HSA account with Associated, you are forfeiting any
is no “use it or lose it” rule, like
GESMN HSA contributions as well as your own HSA deductions until you
with the flexible spending
set up an account.
accounts. Even if you leave
GESMN, the funds in your If you complete the above criteria, GESMN will contribute the following:
HSA and the account itself are
➢ $19.23 each pay period for the remainder of the year for employee-only
yours to keep. It’s important to coverage (up to $500/year).
note if distributions are made
➢ $38.46 each pay period for the remainder of the year for coverage of
from an HSA account for non-
employee +1 or more (up to $1,000/year).
qualified health care expenses,
the distributions are considered You may also elect to contribute pre-tax contributions to your HSA account through
taxable income and are subject payroll deduction. Be advised, your contribution and GESMN’s contribution to
to an additional 20% excise your HSA account may not exceed the annual HSA funding limits. The 2019 HSA
tax. Over-the-counter drugs, funding limits are below. You can make changes to your HSA contribution at any time
unless prescribed by a physician, during the year through the UltiPro Life Event “Change my HSA”.
with the exception of insulin,
are not an eligible expense.
For a complete list of 2019 HSA Funding Limits
Coverage Level Limit*
eligible expenses, go to
Individual Coverage $3,500
irs.gov. Family Coverage $7,000
**Age 55 or Older Contribute an additional $1,000 on top of these amounts
* Limits include the GESMN contribution
** The $1,000 catchup contribution is only available if the HSA account holder is age 55 or older.
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