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Also, keep in mind if an employee has individual-only coverage, he or she must meet the individual deductible before any claims will be paid by Guidestone, and then an individual maximum out-of-pocket may apply before claims will be paid at 100% (depending on the HS plan).
What are
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Triple Tax Savings:
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the
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Reliant will contribute to your HSA each month if you elect annually (through Open Enrollment or via a Cafeteria Plan form) to make regular employee (payroll deduction) contributions into the HSA account. There is also a monthly employer HSA contribution that comes partially from the MTD account and is partially subsidized by Reliant.
You can take your personal HSA spending account with you if you leave employment with Reliant (you own it!).
You can invest your money in mutual funds for more tax-free earnings (with a $500 minimum account balance).
You can use your HSA debit card to pay for health expenses directly out of your HSA spending account.
What are the Annual Contribution Limits for a Health Saver Account?
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What Reliant staff are saying about the HS plans
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| “Honestly the Health Saver 3000 HSA did take a little getting used to, but my wife and I have been very happy with it so far. We chose to invest enough that we expect to probably carry an excess balance over from one year to the next. At this point, it looks like that will happen. One thing this means is that our family budget for health care next year will actually be reduced since we will already be carrying over some funds in the HSA from this year.” – Steve |
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| “The HSA payment card is super easy to use. Just like a debit card! Also, since we don’t have significant health-care needs at this point, we like the ability to save up for the future with lower premiums. We also like the freedom to spend our money saved on out-of-network expenses.” – David |
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| “As a family that has ALWAYS met our out-of-pocket max each year, this year we’ve paid out from our own pockets LESS than every year before and done it with pre-tax dollars!” – Heather |
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| “I like that it did make us think through what medical decisions we were making. I also like that it would allow us to save up for orthodontic work tax-free. I just wish that I had the HSA option back in my 20s and had put aside the savings from a traditional PPO into my HSA account. It would have really been worth having that HSA account balance in my 30s!” – Luke |
Resources
- Presentation by Dave Meldrum-Green (PDF)
- Employer HSA Contributions
- Medical Insurance Enrollment Form (PDF)
- Cafeteria Plan Enrollment Form - 2019
- Medical Insurance Coverage and Rates
- Sample Health Saver 3000 Plan Activity Statement (PDF)
- HSA Health Care Expenses Table (PDF)
- Health Savings Account (HSA) Welcome Kit.pdf
- Highmark website
- Highmark HSA website
- GuideStone HSA FAQs
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