2024-Framebridge-Benefit Guide

HEALTH SAVINGS ACCOUNT

HEALTH SAVINGS ACCOUNT A Health Savings Account, or HSA, is a pre-tax savings account attached to a High Deductible Health Plan (HDHP). If you are enrolled in the Yosemite Plan you can open an HSA and you can put pre-tax money aside for Medical, Dental, Vision, & Prescription expenses.

WHO IS ELIGIBLE FOR AN HSA? Any employee who elects the Yosemite HSA plan.

WHY WOULD I WANT TO PUT MY MONEY INTO AN HSA? You can fund your HSA with pre-tax dollars, and then use the accumulated money to pay for medical, dental, vision, and prescription expenses. The money in your HSA accrues interest and the account is in your name - you can take your money with you to a new job and even into retirement. WHAT HAPPENS TO THE BALANCES IF I DON’T USE ALL THE MONEY BY THE END OF THE PLAN YEAR? Your HSA money rolls over from year to year, there is NO “use it or lose it” rule. WHO IS RESPONSIBLE FOR DETERMINING ELIGIBILITY OF EXPENSES? Eligibility of expenses is dictated by the IRS. Although verification is not required, we recommend that you be able to validate all expenses in case of an IRS audit. WHAT IS THE MAXIMUM AMOUNT I CAN CONTRIBUTE TO MY HSA? In 2024, you can put up to $4,150 for individual coverage and $8,300 for family coverage into your HSA. ADDITIONAL FUNDING Those 55 years of age or older, but not yet entitled to Medicare benefits, can fund an additional $1,000 per year "catch-up" contribution. Catch-up contributions can be made any time during the year in which the HSA participant turns 55.

INTEGRATED HEALTH REIMBURSEMENT ARRANGEMENT (HRA) All three* medical plans have access to travel and lodging reimbursement for covered reproductive services (i.e. abortion, vasectomy) that are unavailable within 100 miles of a members home. • Reimbursed expenses include: lodging, domestic airfare, mileage reimbursement and meals. • Each employee has access to up to $4,000 for themselves and their dependents. • Plan is administered by BRI. • Receipts and proof of covered service can be submitted online or through their mobile app www.briweb.com.

*Reimbursement is only available on the Yosemite plan if the deductible has been met.

For additional information, please refer to your detailed plan summary. In the event of a discrepancy, the carrier Plan Document shall prevail.

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