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MAXIMIZING MY HSA

MAXIMIZING MY HSA. August 2011. TRADITIONAL PLAN VS. HSA PLAN. WHAT’S AN HSA?. You and/or Employer Contribute. Qualified Medical Expense. Your HSA . Savings account that you own and: Can use to pay for qualified medical expenses Earn interest on

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MAXIMIZING MY HSA

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  1. MAXIMIZING MY HSA August 2011

  2. TRADITIONAL PLAN VS. HSA PLAN

  3. WHAT’S AN HSA? You and/orEmployer Contribute Qualified Medical Expense Your HSA • Savings account that you own and: • Can use to pay for qualified medical expenses • Earn interest on • Can invest when a certain threshold is met

  4. AM I ELIGIBLE? • To qualify for an HSA, an individual: • Must be covered by a qualified high-deductible health plan (HDHP) • Must be 18 years or older • Can’t be enrolled in Medicare • Can’t be claimed as a dependent on someone else's tax return • Can’t have other health coverage, unless permitted by the IRS (i.e.TRICARE, DoD, FSA)

  5. CONTRIBUTE TO YOUR HSA • For 2012, the maximum tax-free contributions the IRS allows you to make to your HSA are: • Single-coverage $3,100 • Family-coverage$6,250 • Catch-up contribution, age 55 or older $1,000 • You can fully fund your HSA on day one, subject to the annual maximum amount. • You can make contributions anytime after your HSA is open. • Deposits can be made pre-tax through payroll deduction, online, or sent to HealthEquity.

  6. WHY AN HSA?

  7. BENEFITS OF AN HSA • Save (and keep) your money • Lower premiums, tax-free, long-term savings • You own the account and the money stays with you • Grow your money • Money rolls over year to year • Access the best tax-savings opportunity available • Contributions aren’t taxed and reduce your annual taxable income • Withdrawals are never taxed or penalized when used for qualified medical expenses; including Rx, dental, vision • Earnings aren’t taxed

  8. BENEFITS OF AN HSAContinued • Keep your doctor • Even if your doctor isn’t a network provider, you can use your HSA to pay your bill • Protect your account and your pocket book • Change jobs or retire and keep your account and balance • Most HSA-qualified plans have maximum out-of-pocket limits • Reach your limit, and expenses are fully covered. • Before you reach your limit, use your HSA balance to pay costs. • Can cover spouse/dependent expenses, even if on another health plan • Your spouse and dependents don’t need to be covered by the HDHP to use your HSA funds to pay their out-of-pocket medical expenses.

  9. QUESTIONS TO ASK YOURSELF • How much do I pay out of my paycheck for each plan? • What is the deductible for each plan type? • What is the out-of-pocket maximum for each plan? • How much do I want to contribute to my HSA? • How much will I spend on health care this coming year? • What are my out-of-pocket costs for each plan type?

  10. MEMBER EXPERIENCE

  11. MEMBER EXPERIENCE • Everything you get from a bank HSA and much more • Competitive interest rates • FDIC insured • Free HSA card • No fees for integrated investment option transactions • Information you need when you need it • 24/7 Health Equity consultants • Talk with real people real time • Online tools and information and proactive event messaging • HealthEquity Consultants available 24/7/365 • Learn safe, effective ways to save on health care • Get help negotiating payment schedules with providers • Find out how to get the most of your HS • Tax tips regarding HSAs – current and future

  12. MEMBER EXPERIENCE • Lifetime Claims and Spending Record • Permanent record of claims and spending in one place • Take a tax deduction now • Reimburse yourself after age 65 with tax-free dollars • Easy to use self-service tools at MyHealthEquity.com • Manage account information • See real time balances • PayChoice on-line payment platform • Make payments from account directly to providers • Schedule one or more payments in advance • Set up electronic fund transfers • Rx and medical procedure out of pocket estimators

  13. CONSOLIDATED ONGOING MEMBER GUIDANCE 01001010010110 First Login to Web Portal Enrollment Received Live 24/7 Support Payment Account screening and setup Welcome Kit and Debit Card Claim from Insurance Ongoing Consumer Education

  14. MEMBER PORTAL WEB TUTORIALSwww.healthequity.com/ResourceCenter/DemosandTutorials • Introduction to Health Savings Accounts A brief introduction to consumer-directed health care and health savings accounts (HSAs), highlighting how employers can consumers can take financial control over health care spending. • First Time Log In Provides a step-by-step guide on logging in to the HealthEquity® member portal for the first time. • Member Portal Introduction An easy-to-follow tour of the HealthEquity member portal, available the online tools and managing the financial side of health care. • My Account Overview A look at all the capabilities available under the “My Account” section of the HealthEquity member portal. • My Money Overview An overview of the claims, payment, and reimbursement tools available in the HealthEquity member portal. • Make a Contribution An overview of who can contribute, how to contribute, and when to contribute to your HSA. • Pay a Provider Details how to pay providers directly from your HSA right from within the HealthEquity member portal. • Investments Overview Shows how to invest your HSA funds using the HealthEquity member portal’s easy-to-use mutual fund investment section where members can make investments and manage growing HSA funds.

  15. MEMBER SERVICES HealthEquity Member Services is open all day, everyday, 24/7/365 866.346.5800 Understand and manage the financial side of health care Save and spend health care dollars more wisely Build equity in your health plan

  16. GET HSA SMART WITH HEALTHEQUITY Download a free copy ofThe Complete HSA Guidebook: www.hsaguidebook.com Promotional Code: HSASmart2011

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