Medcom Benefit Solutions Jacksonville, Florida www.medcombenefits.com
Q: Do I have investment options?
A: Yes, we offer 3 different investment options - Managed, Self-Directed, and Brokerage - to tailor the participants' investment journey to fit their needs and experience level. Investors have the option to search and trade stocks and ETFs once they have accrued $1,000. You may choose your investment options once you login to your account at https://medcom.wealthcareportal.com. Please note that you will be charged between $0.99 and $9.99 per month, depending upon the investment path chosen, if you invest your funds in one or more investment options.
Q: Do I need to submit my receipts when I use my debit card?
A: No. However, it is recommended that you keep all your receipts for expenses claimed under your HSA.
Q: How much may I contribute to my HSA?
A: Annual contribution limits are set by the Internal Revenue Service (IRS) each year and typically increase due to inflation. If you are 55 or older, you also have the option for an additional $1,000 “catch - up” contribution (only available once). Note that when you login to your account online at https://medcom.wealthcareportal.com, annual HSA maximum contribution limits are listed for each year.
Q: Can I change my payroll deductions throughout the year?
A: Yes, you can change your deductions throughout the year without a qualifying event. Your employer may stipulate how often these changes may be made, so please refer to your Summary Plan Description or other materials provided by your employer to determine the frequency in which these changes may be made.
Q: Can I make additional contributions outside of my payroll deductions to my HSA?
A: Yes, you can make additional contributions to your HSA, in addition to what is being deducted from your paycheck. Please visit https://medcom.wealthcareportal.com to make these deposits.
Q: Where can I find a listing of eligible HSA expenses?
A: Please visit our WealthCare Portal at https://medcom.wealthcareportal.com. Under the “Resources” tab, click on “HSA Tools and Calculators” then “Eligible HSA Expenses. ” You may also click on the HSA Store banner on our website.
Q: What are the HSA maximum contributions for 2024?
A: The HSA maximum contribution limits for 2024 are $4,150 for Employee Only and $8,300 for Family.
Contact Us: (800) 523-7542, option 1 MedcomReceipts@medcombenefits.com www.medcombenefits.com
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