Our Consumer Choice medical plans come with an HSA that is administered by Optum Bank®. Use it to cover out-of-pocket healthcare expenses, including your deductible. Your unused balance rolls over each year and accumulates tax-free. Plexus will contribute $650 for individual coverage or $1,000 for family coverage. Company contributions are made on a per-paycheck basis and will be pro-rated based on your coverage effective date. You can also contribute, up to limits set by the Internal Revenue Service (IRS). You can also change your contribution amount at any time during the year. You must elect the HSA plan to receive Plexus contributions even if you don’t plan to contribute to the HSA yourself. To be eligible for a Health Savings Account, you must be:
- Covered under one of the Consumer Choice medical plans.
- Not covered under any other health plan.
- Neither you nor your spouse contributing to a medical Flexible Spending Account.
- Not enrolled in or eligible for Medicare, TRICARE®, or VA benefits.
- Not claimed as a dependent on another person’s tax return.
For complete details, visit https://www.irs.gov/forms-pubs/about-publication-969
For more information on your HSA, visit www.optumbank.com.
Talk to an advisor from Francis Investment Counsel at no cost to you to see how an HSA can fit into your financial plan for the future. Visit www.moneyadviceatwork.com/plexus for details.