Tax Advantaged Accounts

You have options to set aside pre-tax money for medical and dependent care costs. You don’t pay taxes on these funds, which lowers your taxable income.

Account Comparisons

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Features	Health Savings Account	Health Care Flexible Savings Account	Dependent Care Flexible Savings Account
Used to pay for	Eligible health care expenses		Day care for children under 13 or in-home care for adult dependents
At the end of the plan year	Leftover funds can roll over. Funds are yours to keep regardless of employment status.	Roll over up to $680 in unused funds at the end of the plan year. You forfeit unused funds over $680 after the claim deadline.	Leftover funds are forfeited after the claim deadline.
Types of medical plans	HDHP + HSA plan	Mid-PPO and Hybrid plans	All plans
Annual contribution maximum	$4,400 for individuals and $8,750 for families For 55 or older, you can make a catch-up contribution of up to $1,000. You may change or stop contributions at any time.	$3,400 Your annual contribution cannot be changed during the year unless you have a qualified family status change.	$7,500 ($3,750 each if married and filing taxes separately) Your annual contribution cannot be changed during the year unless you have a qualified family status change.
Funds availability	Your balance is available as you contribute each pay period.	The entire amount you elected for the year is available for use when the plan year begins.	Your balance is available as you contribute each pay period.
Ensign contributions	BCBSTX HSA: $250 for individual coverage or $500 for family coverage Kaiser HSA: $250 for individual coverage or $500 for family coverage	N/A

Health Savings Account (HSA)

When you enroll in the HDHP + HSA Plan, you can open an HSA. With an HSA, your pre-tax dollars can pay for your eligible health care expenses or can be saved for future use.

HSAs are triple tax advantaged - you don’t pay taxes on:

Your contributions
The interest earned over time
Funds you use towards eligible medical expenses now, or in the future

Contributing to an HSA also lowers your taxable income, and funds are yours to keep (even if you leave Ensign or change your medical plan) because they roll over year after year. These features can be especially helpful as an additional way to save for retirement.

In addition to your contributions, Ensign will contribute:
BCBSTX: $250 for individual coverage or $500 for family coverage
Kaiser: $250 for individual coverage or $500 for family coverage

You may use your HSA to pay for eligible medical, prescription drug, dental and vision expenses. To see a complete list of eligible expenses, visit www.IRS.gov and view publication 502.

HSA Eligibility

You may not participate in an HSA if you or your spouse have medical coverage through Medicare or any other plan that is not a qualified High-Deductible Health Plan.

Flexible Spending Accounts (FSA)

There are two different types of FSAs, health care and dependent care. Before you enroll, make sure to estimate all your possible expenses for the year. You make contributions through pre-tax payroll deductions in equal amounts throughout the year.

Health Care FSA

Use pre-tax dollars to pay for eligible health care expenses such as:

Copays
Prescription drugs
Contact lenses
LASIK procedures
Orthodontia services

To see a complete list of eligible expenses, visit www.IRS.gov and view publication 502. You may participate in the health care FSA even if you aren’t enrolled in one of our medical plans.

Dependent Care FSA

Use pre-tax dollars to pay for dependent care expenses, including:

Day care for your children under age 13 (if both you and your spouse work or go to school)
In-home care for your adult dependents who are physically or mentally disabled

To see a complete list of eligible expenses, visit www.IRS.gov and view publication 503. You may participate in the dependent care FSA even if you aren’t enrolled in one of our medical plans.

Educational Videos about HSAs and FSAs

Everything You Need to Know About HSAs

A Health Savings Account (HSA) is a savings account used to put pre-tax dollars aside specifically for your out-of-pocket health expenses.

Everything You Need to Know About Health FSAs

A Health Flexible Spending Account (FSA) is a pre-tax savings account that can be used for out-of-pocket healthcare expenses, such as medications and copayments.

Everything You Need to Know About Dependent Care FSAs

A Dependent Care Flexible Spending Account (FSA) is a pre-tax account that can be used for day care, elder care, and even care for dependents with disabilities.

Carrier Information

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