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2017, can contribute up to $3,400/individual
& $6,750/family. 2018, can contribute up to
$3,450/individual & $6,900/family. Catch
Up contributions are also available for 55+
age.
HSA & FSA overvi ew
H e a l t h S a v i n g s A c c o u n t
F l e x i b l e s p e n d i n g a c c o u n t
Money put into your HSA is not taxed and you
earn tax-free interest on HSA balances
You own the account and all contributions, even
if you retire or leave the company. You can also
invest for increased tax-free earning potential.
The entire HSA balance rolls over each year
Funds can be used for qualified expenses
including medical, dental, vision, etc. Eligible
list of expenses is the same for HSA and FSA
Funds can be used for qualified expenses
including medical, dental, vision, etc. Eligible
list of expenses is the same for HSA and FSA
Works like a credit card, you don’t have to
wait for your payroll contributions to accumulate
before using.
Works like a debit card, you can only use
what you have accumulated through payroll
contributions.
Must validate every receipt for reimbursement
through Paychex.
Active employees can rollover up to $500
each year. Any leftover balance in your
account over $500 will be lost at the end of
the plan year.
Must be enrolled in the HDHP medical plan in
order to be eligible, cannot be in HMO or PPO
Can either be enrolled in the HMO plans or
the standard PPO, cannot be in the HDHP
2017, can contribute up to $1,000. 2018,
can contribute up to the IRS set maximum limit.
Choosing between the two ppo options
The HDHP PPO plan is often (but not always) less expensive for employees and their family,
however, the big adjustment is getting used to the sticker shock of the first 6 months of the year
when you are meeting your deductible on the HDHP plan. The standard PPO provides you with the
comfort of knowing exactly what each office visit and prescription drug cost is going to be. But, it
often results in you paying more than you would have under the HDHP PPO plan at year end.
The following two pages will give you examples comparing the two PPO plans and the total cost.
We recommend that you do your own calculations based on your own care to determine which
plan is better for you and your family.
Money put into your FSA is not taxed
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