HEALTH SAVINGS ACCOUNT (HSA)
Dental benefits administered by Delta Dental Regular dental visits certainly play a role in helping you and your family Live Well. Good dental care helps prevent or treat periodontal disease – a primary cause of tooth loss in people of all ages, according to the U.S. Department of Health and Human Services. We offer two dental plans administered by Delta Dental : the Standard Plan and the Maximum Plan. The plans differ in the type of care covered and what you pay for services. You may see any dentist, but when you use a Delta Dental provider, you’ll save money and you won’t have to file any claims. Both plans cover two complete exams annually. DENTAL
What is an HSA? If you enroll in the HDHP, you can use a health savings account (HSA) to pay medical, prescription drug, dental and vision expenses not covered by your Averitt plans with tax-free dollars. To be eligible for the HSA, you must not be enrolled in any other insurance coverage except for a qualified HDHP.
Four advantages of an HSA
1. IT’S FREE MONEY The company will contribute $10 per week if you choose individual coverage or $20 per week if you enroll with family members. 2. IT’S CONVENIENT Use your HSA now, or save it for later – even for health care expenses after you retire. The money in your HSA belongs to you. It rolls over each year, and you can take it with you if you change jobs.
DENTAL BENEFITS*
STANDARD PLAN MAXIMUM PLAN
DIAGNOSTIC AND PREVENTIVE SERVICES Oral exams and routine cleaning (two per year), X-rays (one bitewing per year, one full mouth every three years), and fluoride treatments (two per year, to age 19) BASIC SERVICES Oral surgery, anesthesia, fillings, extractions, endodontia and periodontia MAJOR SERVICES AND ORTHODONTIA** Crowns, cast restorations, fixed bridgework, dentures and orthodontia (to age 19)
Plan pays 100%*
Plan pays 100%*
WEEKLY AVERITT CONTRIBUTION
ASSOCIATE ONLY
$10.00
ASSOCIATE + SPOUSE
$20.00
Plan pays 50%
Plan pays 80%
3. IT OFFERS TRIPLE TAX ADVANTAGES • Pay no taxes on money you contribute • Pay no taxes on interest you earn • Pay no taxes when you withdraw money
ASSOCIATE + CHILD(REN)
$20.00
FAMILY
$20.00
Plan pays 50%
Plan pays 50%
4. IT ALLOWS YOU TO CONTRIBUTE TOO You can make additional pre-tax contributions to your HSA through payroll deductions. Total Averitt and associate contributions combined cannot exceed these annual IRS limits in 2023: • $3,850 for single coverage • $7,750 for family coverage If you are age 55 or older, you can make an additional $1,000 catch-up contribution.
ANNUAL BENEFIT MAXIMUM
$1,500
$2,000
ORTHODONTIA LIFETIME MAXIMUM
$1,500
$2,000
YOUR WEEKLY PAYROLL DEDUCTION
STANDARD PLAN MAXIMUM PLAN
ASSOCIATE COVERAGE
$3.45
$5.50
ASSOCIATE + SPOUSE COVERAGE
$7.65
$12.40
ASSOCIATE + CHILD(REN) COVERAGE
$8.45
$13.20
ASSOCIATE + FAMILY COVERAGE
$11.60
$16.15
Weekly premiums are deducted pre-tax , saving you even more money. *See Summary Plan Description (SPD) for further details. **New enrollees will be subject to a 12-month waiting period for major services and orthodontia.
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