HEALTH SAVINGS ACCOUNT (H.S.A)
When you’re enrolled in a qualified High Deductible Health Plan (HDHP) you and you employer can contribute to your H.S.A account. What are the perks?
ELECTING PLAN 1?
CONGRATS, you’re eligible for an H.S.A! Congrats again because AMIkids is giving you $500 in your H.S.A . This gift will be pro-rated , thus deposited into your account throughout the year. All you have to do is open an H.S.A with Optum Bank and keep it active. Visit their website to open 1 of the 3 account options available.
• Your contributions are pre-tax . • Money rolls over year to year, you never lose it.
• It’s owned by you . The account and money in it are yours to keep whether you retire, come off the group plan, or leave. • It’s easy to use ! Optum Bank sends you a H.S.A card when you open an account. The card is just like a debit card, simply swipe the card when you want to use the funds.
Maximum Contribution Limits* 2016 2017
If you do not open the account and keep it active AMIkids cannot deposit the money for you. Easiest $500 you’ve ever made!
Single Coverage
$3,350
$3,400
Family Coverage $6,650
$6,750
* Individuals who are age 55 or older may contribute an additional $1,000 per year .
ELIGIBLE EXPENSES INCLUDE (but are not limited to):
• Alcohol & drug dependency treatment • Artificial Teeth • Acupuncture & Chiropractic services
• Hearing aids & batteries for use • Hospital, Surgical, lab & X-Ray fees • Long-term care (medical expenses & premiums) & Nursing home • Physical & speech therapies • Smoking-cessation programs & products
• Dental expenses (exams, X-rays, root canals, bridges, etc.) • Diagnostic devices (blood sugar test kits for diabetics) • Prescription drugs • Eyeglasses, exams, laser eye surgery, Contact lenses & solution
• Vasectomy • Wheelchairs
HOW TO GET $500?
OPEN A H.S.A, IT’S SO EASY!
You can choose to enroll in the H.S.A. online or by completing and submitting a paper enrollment form to Optum Bank directly. The form is available on the Benefits Department page on the AMIkids Intranet or from your Business Manager. To enroll online:
• Go to www.optumbank.com • Select “ENROLL NOW” • Scroll down and review the qualifications • If you qualify, select “If you qualify to open an H.S.A you can do so today by clicking here.” • ….And begin!
It will ask you for:
Your Social Security Number An email address, to receive information from Optum Your Group Number: 7160757 IMPORTANT : Under requested contribution please indicate “0”. If you wish to contribute to the HSA as well, please download the HSA contribution form from the Benefits department page of the AMIkids Intranet or contact your Business Manager. Once your enrollment is processed, watch your mail! You’ll receive a Welcome Letter from Optum Bank with your account number H.S.A Debit card (MasterCard). Separately you will receive a Personal Identification Number (PIN) for your debit card. Optum Bank MUST validate your enrollment info prior to activating your account. This process may take up to two weeks. We strongly encourage you enroll as soon as you’re eligible for benefits to ensure you receive your entire prorated gift ($500).
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