MEDICAL PLAN PERKS
FLEXIBLE SPENDING ACCOUNT (FSA) Flexible spending accounts (FSAs) let you set aside some of your pay, pre-tax, into an account to pay for certain predictable expenses. There are two types of FSA: • The health care FSA can pay for copays, deductibles, coinsurance, prescriptions, dental care, glasses, and other eligible health-related expenses for you and your tax dependents. Available to THP members or associates who waive coverage
These extra features and programs are available to medical plan members.
RECEIVE CARE ANYWHERE THROUGH TELADOC If you have a minor illness, going to the emergency room can be expensive, urgent care may be unnecessary, and you may not be able to see your primary care physician right away. Teladoc saves you time and money! Teladoc allows you and your enrolled dependents to speak with a doctor anytime. Teladoc is great for: • Minor conditions such as fever, sore throat, congestion, nausea or vomiting, rash and more. Plus, Teladoc physicians can prescribe medications when appropriate. • Behavioral health concerns including stress, anxiety, depression, addiction, abuse and grief counseling.
NICOTINE CESSATION PROGRAM If you or your spouse are ready to quit tobacco – including chewing tobacco or e-cigarettes – our free tobacco cessation program can help. Begin your journey to nicotine-free life with HealthCheck360.
This program includes: • Step-by-step Guidance • Health Coaching • Access to a Mobile App
• The dependent care FSA covers childcare expenses while you are at work for children under age 13 or older dependents who are incapable of self-care. That includes costs for things like babysitters, summer day camps, and elder care. Available to all associates Here’s how each FSA works: • Make contributions. You set aside pre-tax money through payroll deductions up to IRS limits. You can’t change your contribution during the year unless you experience a qualifying life event. You must re-enroll every year. ■ HCFSA limit: $5 weekly minimum, $3,200 annual maximum ■ DCFSA limit: $5 per week minimum, $5,000 annual maximum per household • Use your funds. View a full list of eligible expenses at wexinc.com/insights/benefits-toolkit/eligible- expenses/ . When you have an expense, you can pay for it with your FSA debit card or reimburse yourself. The full contribution you elect is available for access or reimbursement on your first day of enrollment on your health care FSA and as you contribute them (like a bank account) on your dependent care FSA. • Budget carefully. The health care FSA can roll over up to $640 each year, but all other funds and all excess dependent care funds are lost at the end of the plan year. To keep your rolled over funds, you must re-enroll in the health care FSA every plan year.
There is no right way to quit nicotine; there is only your way. Enroll now by calling HealthCheck360 at 866-511-0360 (ext. 5099) or sending an email to healthcoach@healthcheck360.com .
Activate your account at bcbst.com/Teladoc or by calling BlueCross BlueShield at 833-377-9371 .
HINGE HEALTH Hinge Health is a virtual physical therapy program that offers an innovative digital solution for chronic back, knee, hip, shoulder, and neck pain. Their digital clinic for joint and muscle pain gets people moving and keeps them moving to reduce unnecessary surgeries and opioid use. The program includes wearable sensors, unlimited one-on-one health coaching, and personalized exercise therapy. Hinge Health is offered at no cost to associates and their covered dependents ages 18 and over. You must be enrolled in an Averitt medical plan to be eligible. Get started today by visiting hinge.health/averittexpress . HEALTH SAVINGS ACCOUNT (HSA) IT’S LIKE A 401(K) FOR YOUR HEALTH EXPENSES: THE HEALTH SAVINGS ACCOUNT (HSA) FOR HDHP MEMBERS If you enroll in the HDHP, you will have access to a health savings account (HSA) – with free money from Averitt – to help you save for health care expenses. Contributions, earnings and withdrawals for qualifying expenses are tax-free. Here’s how the account works: • Make contributions. WEX will automatically set up your bank account, and Averitt will deposit $10 per week for individual coverage or $20 per week if you cover dependents. You can also contribute additional funds up to the 2025 IRS limits of $4,300 for individuals/$8,550 for families, plus an annual $1,000 catch-up contribution for those over age 55. • Use your funds. WEX will send you a debit card to access your funds, and you can use the bank account to pay for eligible medical, dental and vision costs now or in the future. View a full list of eligible expenses at wexinc.com/insights/benefits- toolkit/eligible-expenses/ . • Save your funds. The bank account also works like a savings or retirement account. It’s yours, even if you leave the company, and your balance rolls over each year accruing interest tax-free. When your account balance reaches $1,000, you can invest your funds.
Run That Back
THIS SOUNDS LIKE THE HSA. HOW IS IT DIFFERENT? Both are tax-advantaged accounts. The HSA is the tax-advantaged account offered to associates who elect the HDHP. It has advantages over the FSA – you keep the account for life, it accrues interest and funds can be invested. But if you don’t think the HDHP is the right plan for you, a health care FSA is a great way to budget for medical expenses in the coming year and pay for them with tax-free dollars.
Keep your receipts, as the IRS may ask you to submit them for verification.
Your HSA or FSA card will expire and be replaced by WEX every four years. Check your card to see when yours will expire so you know when to be on the look out for a new card in the mail.
To be eligible for the HSA, you must meet certain qualifications during enrollment, like enrolling in the HDHP and not being enrolled in a health care FSA.
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