HEALTH SAVINGS ACCOUNT (H.S.A.)
Employees enrolling in the HDHP H.S.A Medical Plan are eligible to open and contribute to a Health Savings Account (H.S.A). With a H.S.A you have the ability to put money side, through payroll deductions, to help pay for H.S.A eligible expenses. The H.S.A is with Optum Health Bank.
WHAT ARE THE BENEFITS OF A H.S.A?
•
The money you put aside is PRE-TAX
• The H.S.A is a bank account in your name. If you retire or should you leave McKibbon Hospitality you take this account with you.
• The account rolls over year to year. You will not have to forfeit any unused funds.
• You will receive a debit card upon opening a H.S.A for quick and easy utilization of the fund.
• The list of eligible expenses is vast! These expenses include things covered under the medical, dental, and vision coverage – as well as some items that aren't!
2019 IRS Annual MaximumHSA Contribution Limits
Employee Only
$3,500
Family
$7,000
Additional $1,000 annually catch-up amounts for available for employees 55 years or older
WHAT ARE ELIGIBLE EXPENSES UNDER THE H.S.A?
Examples of eligible services include, but are not limited to the following:
• • • • • • • • • •
Acupuncture
• • •
Glasses
• • • • • • •
Batteries for hearing aids
Chiropractic services
Prescription Drugs
Long-term care Nursing home
Alcohol and drug dependency treatment
Prescription sunglasses
Ambulance
• Over the Counter Drugs (when ordered by a doctor) • Laser eye surgery • Radial keratotomy • Fertility enhancements • Hearing aids • Batteries for hearing aids • Long-term care
Maternity Expenses Organ transplants Physical therapies Speech therapies
Artificial limbs Contact lenses
Contact lens solution
Copays
• Smoking-cessation programs and products • Vasectomy • Wheelchairs
Deductible expenses
Dental expenses
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