Health Savings Account (HSA) Employees enrolling in the OAP HSA (Sportsman) may open and contribute to a Health Savings Account (HSA). With an HSA you can put money aside, through payroll deductions, to help pay for HSA eligible expenses. The contributions you make are taken pre-tax. Our HSA is offered through Paylocity.
2022 IRS Annual Maximum HSA Contribution Limits
Employee Only
$3,650
Employee + Spouse, Child(ren) or both
$7,300 Additional $1,000 annually catch-up amounts for available for employees 55 years or older
JL Marine Contributions
Employee Contributes: Minimum -$100.00
JL Marine Contributes: $250
JL Marine Contributes: Dollar for Dollar up to Max $500
Employee Contributes: $100 - $500
2022 Max Contribution from JL Marine Systems is $750
WHAT ARE THE BENEFITS OF A HEALTH SAVINGS ACCOUNT?
The money you put aside is PRE-TAX The HSA is a bank account in your name. If you retire or should you leave JL Marine Systems, 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 an HSA 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!
Some examples of HSA eligible expenses are as follows: • Dental expenses • Prescription Drugs and Over the Counter Drugs • Eye surgery (laser eye surgery or radial keratotomy) • Fertility enhancements
• Acupuncture and Chiropractic services • Alcohol and drug dependency treatment • Ambulance • Artificial limbs • Contact lenses and solution • Physical and speech therapies • Smoking-cessation programs and products • Vasectomy
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• Hearing aids and batteries for use • Long-term care and Nursing home
• Maternity Expenses • Organ transplants • Wheelchairs
Paylocity’s Debit Smart Card gives employees access to elected funds on a single card. Paying for qualified medical, dental & vision has never been easier. With the debit card loaded with your account balances, this will require no claim forms and no more paying out-of-pocket. This Paylocity Debit Smart Card is paired with the HSA which will ensure that employees stay in compliance with the IRS Guidelines.
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