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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 Reimbursement Arrangement 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.

 Leftover funds can roll over.

If you leave the company, you will forfeit funds.

 Roll over up to $640 in unused funds at the end of the plan year.
You forfeit unused funds over $640 after the claim deadline.		 Leftover funds are forfeited after the claim deadline.
Types of medical plans HDHP + HSA plan Hybrid & HRA plan Hybrid & HRA plan All plans
Annual contribution maximum

$4,150 for individuals and $8,300 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.

 N/A

$3,200

Your annual contribution cannot be changed during the year unless you have a qualified family status change.

$5,000 ($2,500 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. Funds will automatically apply when BCBSTX or Kaiser processes your medical and pharmacy claims. 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: $750 for individual coverage or $1,500 for family coverage

Kaiser HSA: $500 for individual coverage or $1,000 for family coverage

 BCBSTX HRA: $500 for individual coverage and $1,000 for family coverage

Kaiser HRA : $500 for individual coverage and $1,000 for family coverage

 N/A

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: $750 for individual coverage or $1,500 for family coverage
Kaiser: $500 for individual coverage or $1,000 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.

If you enroll in the HRA medical plan, Ensign will fund an HRA to pay for eligible health care expenses:
BCBSTX HRA: $500 for individual coverage and $1,000 for family coverage
Kaiser HRA: $500 for individual coverage and $1,000 for family coverage

You may enjoy several benefits with an HRA:

  • Contributions made by Ensign can be excluded from your gross income.
  • Reimbursements may be tax-free if used to pay for qualified medical expenses.
  • You may also participate in a Health Care FSA. HRA funds will be automatically applied first before FSA funds are used to pay for eligible expenses.
  • Any unused amounts in the HRA can be carried forward for reimbursements in later years.

If you leave Ensign, or the HRA plan is no longer offered, you will forfeit funds.

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

WEX
1-866-451-3399
www.wexinc.com

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