Maximize your healthcare saving and spending with an HSA from
Wells Fargo Health Savings Account (HSA)
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2 What is a Health Savings Account? A tax-advantaged personal
savings account that works with your HSA-compatible health plan
Health Savings Account (HSA) INVESTMENT PRODUCTS: NOT FDIC INSURED
NO BANK GUARANTEE MAY LOSE VALUE Your HSA tax-free tax-free 1
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You own the money in your HSA You are never required to spend
the money Tax savings come from contributions (how the money is
distributed may or may not have tax/penalty consequences) If money
is used for qualified expenses you never pay taxes on those
distributions HSAs provide flexibility in retirement to continue to
save on taxes when paying for medical expenses Things to keep in
mind for HSAs 3
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Are enrolled in health insurance other than an HSA- qualified
health plan (including a spouses medical FSA)* Are enrolled in
Medicare (age 65) or Tri-care Are eligible to be claimed as a
dependent on someone elses tax return Have received VA medical
benefits in the past three months Am I eligible to open/contribute
to an HSA? 4 * Exceptions may apply. Please consult with your
employer or tax advisor for more information on eligibility
requirements. You must be enrolled in Immanuels health plan to open
& contribute to an HSA You are NOT eligible for an HSA if
you:
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Broad range of expenses your HSA covers Did you know? You can
use your HSA to pay for qualified healthcare expenses for your
spouse or tax dependents even if theyre not covered by your health
plan. Doctors office Lab work Hospitalization Vision (contacts,
glasses) Note that over the counter medications are not considered
qualified expenses unless you have a prescription. See the full
list at wellsfargo.com/hsa. This is a sample list. Individuals are
responsible for determining if expenses are eligible under the
Internal Revenue Code. Qualified healthcare expenses Prescriptions
Dental work and braces Acupuncturist Chiropractor 5
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Wells Fargo Visa HSA debit card Use Bill Pay to pay providers
directly Transact using our mobile app Transfer to bank accounts
using Wells Fargo Online Cash reimbursement at over 12,000 ATMs
nationwide Over 6,200 Wells Fargo banking stores nationwide
Multiple convenient ways access your HSA dollars 6 HBS-029
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Lower your deductible and increase your saving IndividualFamily
DEDUCTIBLE $1,300$2,600 Your HSA contribution $13.46 ppd or $41.42
ppd - $ 350$1,077 Immanuel contribution match- $ 350$1,077 Wellness
reward- $ 377$ 377 REMAINDER ON DEDUCTIBLE $ 223$ 69 7
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How much can you contribute? Individual only$3,350 2015
Individual + spouse, children or family $6,650 Note that annual HSA
limits include any contributions made by your employer or wellness
contributions. For questions, consult your tax advisor. Annual age
55+ catch up contribution $1,000 8
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Qualified medical expenses Medicare premiums 1 Medicare
out-of-pocket expenses Long-term care premiums 1 Your HSA
complements your retirement savings Use your HSA in retirement for:
Living expenses Leisure activities Necessities So you can use your
401(k) or IRA for: 1. Check with your tax advisor for more details.
Subject to Code Section 213 deduction limits for long- term care
insurance premiums. 9
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Next steps Fill out Consent form Immanuel will open an account
on your behalf Fill out HSA Transfer form Wells Fargo will transfer
your current balance over Return both Human Resources or your
Manager 10
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As a new accountholder you will receive 2. Welcome emails Two
within first 60 days 3. Quarterly newsletter Ongoing 1. Welcome kit
and debit card Soon after enrolling 11
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Accountholders can see their full financial picture with Wells
Fargo Online HSA Investments Savings And more 12
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HSA-dedicated support service Dedicated HSA service team
1-866-884-7374 MondayFriday, 7:00 AM9:00 PM CT Saturday 9:00 AM2:00
PM CT Additional support Anytime Wells Fargo Online access Anytime
support for lost/stolen debit cards Foreign language services ADA
services 13