HEALTH SAVINGS ACCOUNT (H.S.A)
Employees enrolling in the H.S.A Medical Plan are eligible to open and contribute to a Health Savings Account (H.S.A). With an H.S.A you have the ability to put money side, through payroll deductions, to help pay for H.S.A eligible expenses. The H.S.A is with Optum Health Bank.
2019 IRS Annual MaximumHSA Contribution Limits
Employee Only
$3,500
Family
$7,000
Additional $1,000 annually catch-up amounts for available for employees 55 years or older
WHAT ARE THE BENEFITS OF A H.S.A?
•
The money you put aside is PRE-TAX
• The H.S.A is a bank account in your name. If you retire or should you leave National Aviation Academy 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 H.S.A 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!
WHAT ARE ELIGIBLE EXPENSES UNDER THE H.S.A?
Examples of eligible services include, but are not limited to the following:
• • • • • • • • • • • • •
Acupuncture
• • • • • • • • •
Fertility enhancements
Chiropractic services
Hearing aids
Alcohol and drug dependency treatment
Batteries for hearing aids
Ambulance
Long-term care Nursing home
Artificial limbs Contact lenses
Maternity Expenses Organ transplants Physical therapies Speech therapies
Contact lens solution
Copays
Deductible expenses
Dental expenses
• Smoking-cessation programs and products • Vasectomy • Wheelchairs
Glasses
Prescription Drugs
Prescription sunglasses
• Over the Counter Drugs (when ordered by a doctor) • Laser eye surgery • Radial keratotomy
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