Learn More About UC's Benefits Plans
Learn about UCs medical plans by listening to a recorded webinar. Go to the
for additional information.
Participate in a live seminar from 8-9 a.m. Wednesday, Nov. 18. Go to the annual enrollment website and click on "Meetings and Resources" for additional information. Another live webinar will be held from noon to 1 p.m. Thursday, Nov. 19.
Informational sessions are being held on a number of dates and locations this month. Individual sessions are also available. Registration is required for individual sessions. For more information, go to the
.
Important Information about Your Health Care Flexible Spending Account
If you are considering enrolling in the High Deductible Health Plan, please be aware of the following important information.
In accordance with IRS regulations, if you enroll in the HDHP/HSA Plan for 2016 and have a balance in a 2015
Healthcare Flexible Spending Account
as of December 31, 2015, you are not eligible to contribute funds to an HSA or receive any funds in your HSA until April 1, 2016. This includes UCs contribution. The April 1, 2016 date applies even if your Healthcare FSA account balance reaches $0 at an earlier point in 2016.
Additionally, if you have a balance in your FSA as of December 31, any medical expenses incurred prior to April 1, 2016 are not eligible for reimbursement with HSA funds. Expenses must be incurred after April 1, 2016 in order to use HSA funds.
You will need to consider whether or not you will have an FSA balance on December 31 when making your decisions about enrolling in the HDHP/HSA Plan including making any contributions to the HSA through payroll deduction.
If you have a $0 balance in your 2015 Healthcare FSA as of December 31, 2015, you are HSA eligible on January 1, 2016 and you (and UC) can make contributions to the account and eligible medical expenses can be paid with your HSA funds.
Contact Chard Snyder at 1-800-982-7715 for account balance information.
Important Information about Health Savings Account Eligibility
The HSA lets you control how you save, invest, and use your healthcare dollars. You can use HSA funds for IRS-approved items. Examples include:
- Doctor's office visits
- Dental services
- Eye exams, eyeglasses, contact lenses and solution, and laser surgery
- Hearing aids
- Orthodontia, dental cleanings, and fillings
- Prescription drugs and some over-the-counter (OTC) medications
- Physical therapy, speech therapy, and chiropractic expenses
Qualifying for a Health Savings Account
In order to qualify for HSA participation:
- You must be enrolled in the HDHP Plan,
- You cannot be claimed as a dependent on someone elses tax return,
- You cannot be covered by a spouses Flexible Spending Account,
- You cannot be covered by any other medical plan (unless it is an HSA-qualified plan), and
- You cannot be entitled to or enrolled in Medicare Part A and/or B
You can use the funds in your HSA to pay for the medical expenses of dependents covered by another health plan, even if it is not an HSA-qualified plan,
as long as they are eligible dependents as defined by the IRS
.
is the universitys health savings account vendor.
See Recent News on 2016 Health Benefits
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