CINER 2018 Benefit Guide

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UND ER S TAND I NG
YOUR HEALTH FUND
Health Savings Account (HSA):
What is it?
A Health Savings Account (HSA) is a personal savings
account funded with pre-tax dollars that is used to pay
for eligible health care expenses not covered by
insurance, such as your medical deductible, prescriptions,
dental and vision expenses. The account is flexible so you
decide how much to contribute and when to use your
HSA funds. As long as you use the funds for qualified
healthcare expenses, the funds are not taxed
(contributions or withdrawals).
Both Ciner and you can contribute to your HSA. Ciner
will contribute a base amount to your HSA each pay
period plus additional amounts based upon your
successful completion of wellness initiatives and
regardless of whether you choose to contribute any of
your own money. Beyond the Ciner contribution, you
may elect to contribute up to the IRS-specified limits for
the calendar year as described below.
In order to receive Ciner contributions (made each payroll
and based upon completion of wellness initiatives to
date), you must be a benefit eligible employee on the date
of each deposit, you must have completed the HSA au-
thorization process and you must not have reached the
maximum contribution limit. Once you have setup your
account, it belongs to you, so you can take your account
and fund balance (including deposited Ciner contribu-
tions) with you if you change jobs or retire.
How does your HSAwork with your
medical plan?
1. Funds are deposited into your HSA. The Ciner
contribution and your elected contribution begin to
build the account balance.
2. You or an eligible family member seeks medical or
other qualified healthcare services.
3. Claims are processed and paid by Continental
Benefits per the Green Plan design, subject to your
deductible and/or coinsurance.
4. You choose to use the deposited HSA funds to pay
for any eligible expenses not paid by Continental
Benefits when the claim was processed.
HSAAdvantages
 Tax-free employee and employer contributions
facilitated through payroll transactions.
 Accumulated HSA funds can be used to pay for current
and future qualified health expenses.
 Year-end balances rollover to the following plan year –
no “use it or lose it” rule.
 The individually-owned account provides an opportunity
to build a significant balance, earn interest and offers
investment options.
 May also participate in the Limited Flexible Spending
Account (LFSA) for dental and vision expenses.
Examples of Qualified Expenses:
 Deductibles, coinsurance and copays
 Certain over-the-counter medications if you have a
written prescription from a physician
 Dental expenses including braces
 Vision expenses including LASIK surgery
 Visit the IRS website at irs.gov and select Publication
969, “Health Savings Accounts and Other Tax Favored
Health Plans”, for a complete list of eligible expenses
How much can you contribute to your HSA?
Typically, HSA contributions are increased each calendar
year. For the 2018 calendar year, considering the Ciner con-
tribution and the maximum wellness incentives available to
you, the annual contribution limits are equal to:
*Employees age 55 or who turn 55 during the plan year can contribute an
additional $1,000 in “catch-up contributions” annually.
**Employees are awarded HSA dollars based on successfully completing
wellness programs as well as an annual Ciner contribution.
You may use your HSA funds to pay for qualified
dependent’s eligible health care expenses even if you don’t
cover that family member on your medical plan. Federal
regulations allow you to change the amount you wish to
contribute to your HSA during the plan year.
There are certain restrictions on HSA participation
depending upon other family member’s benefit plan
enrollment through Ciner or their own employer as well as
receipt of Veteran’s Administration (VA) medical benefits.
Health Fund Questions?
Contact Discovery Benefits
866-451-3399 or
Annual
contribution
IRS limit* Ciner
contribution**
Earned wellness
incentive**
Maximum
amount you can
contribute *
Individual $3,450 $250 Up to $750 $2,450
Family $6,900 $750 Up to $1,000 $5,150
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