Page 44 - 2021 Team Member Benefit Guide - English

Health Saving Account (HSA)

If you are looking for ways to boost your savings As a first time participant, you must
and plan for retirement medical expenses, consider contact Fidelity to open your Health
enrolling in our BCBS Consumer High Deductible Savings Account.
Health Plan to take advantage of the Fidelity Health
Savings Account (HSA). You can benefit from - Log on to Fidelity via netbenefits.com,
; Triple tax savings – your contributions, any choose the Health Savings Account
earnings, and withdrawals are tax free* when tile and click “open your account.”
used to pay for qualified medical expenses.
; Any unused money in your HSA carries over After your Health Savings Account
each year and is yours to keep, even if you is established, you may request a
change employers. Fidelity HSA Debit Card (checks are
; You have the opportunity to invest your available upon request).
contributions, giving them the potential to grow
for future use, including retirement.

$3,600 Employee Only Coverage
What is the maximum $7,200 Family Coverage
amount I can contribute If you’ll be at least 55 years old in 2021, you can make an
to this account? additional $1,000 catch up contribution.
All deductions are taken on a pre-tax basis.
Your contribution amount is available as it comes out of your
When are the funds paycheck each pay period - so your entire contribution is not
available? available at the beginning of the benefit period.
What happens if I don’t All unused funds will remain in your HSA. You can take HSA
use the money during funds with you when you leave the company or retire.
the year?
Fidelity - www.netbenefits.com or
To Enroll 800-544-3716

Alli Quezada,Human Resources Assistant NOTE: Be aware that the IRS prohibits you from
North Texas Door making contributions to an HSA while enrolled in
Medicare or a Medicare Advantage plan,
or an FSA. While contributions to an HSA
aren’t allowed once enrolled in Medicare,
you can still use any existing HSA balance
to pay for eligible health care expenses
now or in future years. Scan the QR code to learn
more.

*With respect to federal taxation only. Contributions,
earnings and distributions may or may not be subject
to state taxation. See a tax professional for more
information on the state tax implications.

Your HSA is an individually-owned account. It is not
administered by BFS, is not an employer-sponsored
plan, and it is not an ERISA plan.
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