Presentation is loading. Please wait.

Presentation is loading. Please wait.

Www.GBSwa.com Consumer Driven Health Plans WSAC Employee Health Care Benefits Forum.

Similar presentations


Presentation on theme: "Www.GBSwa.com Consumer Driven Health Plans WSAC Employee Health Care Benefits Forum."— Presentation transcript:

1 www.GBSwa.com Consumer Driven Health Plans WSAC Employee Health Care Benefits Forum

2 Number of employers offering some type of consumer driven health plan has increased dramatically 36% of large employers offered and HRA or HSA in 2012* Three main tax-advantaged accounts offered are: Flexible Spending Account (FSA) Health Reimbursement Account (HRA) Health Savings Account (HSA) *2012 Mercer Survey of Employer-Sponsored Health Plans

3 fund spend Employer Employee Employer FSA Qualified Medical Expenses IRC 213(d)

4 Employer-sponsored benefit program via Section 125 Employer determines eligibility Funded by employer and employee salary reductions $2,500 maximum employee contribution Use it or lose it rule

5 fund spend HRA Employer Qualified Medical Expenses IRC 213(d)

6 Employer established account Employer determines eligibility Funded by employer No maximum contribution Generally does not carry-over (unless allowed by employer)

7 fund spend QUALIFIED high-deductible plan (no other plans allowed) HSA Employer Employee Employer Full Rollover Qualified Medical Expenses IRC 213(d)

8 Anyone can establish account Only in conjunction with coverage under a high-deductible plan Funded by employer and employee salary reductions Maximum contributions for 2013 $3,250 for individual $6,450 for family Funds roll over each year and account is portable

9 Health Savings Account (HSA) Health Reimbursement Arrangement (HRA) Flexible Spending Account (FSA)  Balance carries forward  Balance may carry forward  Use or lose rule  Max annual contributions (2013)  $3,250 Self Only,  $6,450 Family,  +$1,000 Age 55+  Employer determines annual contributions  $2,500 maximum employee contributions  Portable  Generally not portable  Not portable  Funds may be used for non-health expenses (but taxable + penalty)  Employer determines, but may only be used for deductible health expenses (IRS rules)  Funds may only be used for deductible health expenses (IRS rules)

10 Further questions? Nancy Kokenge Area Vice President, Client Consultant Email: Nancy_Kokenge@ajg.com Phone: 509.901.1313 Jessica Haguewood Client Consultant Email: Jessica_Haguewood@ajg.com Phone: 509.838.5571


Download ppt "Www.GBSwa.com Consumer Driven Health Plans WSAC Employee Health Care Benefits Forum."

Similar presentations


Ads by Google