HEALTH SAVINGS ACCOUNT (HSA)
What is a Health Savings Account (HSA)?
It is an interest bearing account created to help you pay medical expenses. The funds in your HSA can be used to help pay your deductible, coinsurance and any qualified medical expenses not covered by your health plan (including dental and vision expenses). All of the money you contribute is tax-free when used to pay for qualified medical expenses. An HSA is your account. It goes with you if you change jobs or when you retire. Our banking arrangement is through Bank of America. Visit Bank of America at www.bankofamerica.com/benefitslogin to learn more about how you can save. If you have more questions, call the Customer Care Center at 866-791-0250
TradeGlobal will match $ .50 for every $1.00 that you contribute toward an HSA account (see maximum contributions below).
Employer Match Maximums
Coverage Tier
Maximum Match
Employee Only
$1,000
Employee + Spouse or Child(ren)
$1,500
Family
$2,000
IRS Annual Maximum HSA Contribution Limits (maximums include any employer contributions)
2017
2018
Employee Only
$3,400
$3,450
Family
$6,750
$6,900
Catch-up Amount for employees 55 years or older
Additional $1,000 annually
Health Savings Account – Eligible Expenses (partial list) • Acupuncture • Alcohol and drug dependency treatment • Ambulance • Artificial limbs • Breast reconstruction surgery (mastectomy-related) • Dental expenses (exams, cleanings, X-rays, root canals, bridges, etc.) • Diagnostic fees (X-rays, MRI’s, bloodwork, etc.) • Doctor fees (including Chiropractic services) • Drugs - prescription and over the counter (when ordered by physician) • Eyeglasses and exams, contact lenses & solutions, laser surgery • Fertility enhancements • Hearing aids and batteries • Hospital and Laboratory fees • Long-term care (medical expenses and premiums) • Nursing home • Physical and speech therapies • Psychiatric care • Smoking-cessation programs and products • Vasectomy • Weight-loss program (to treat a specific disease diagnosed by a physician)
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