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PayFlex HSA Flyer

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PayFlex HSA Flyer
Saving money now and in the future
PayFlex® Health Savings Account (HSA)
Want to reduce your taxable income and increase your
take-home pay? Enroll in an HSA today, and start saving
money for eligible health care expenses for you, your
spouse and your tax dependents.
What do people love about the HSA?
•Contribute pretax and post-tax dollars.
•Contribute up to $3,350*/individual and $6,750*/family
pretax dollars annually.
•Unused funds roll over from year to year.
•Your HSA stays with you, even if you switch employers,
change health plans or retire.
•If you have an HSA somewhere else, you can transfer the
balance to your new HSA.
•Your money can earn interest — plus, you can enjoy
investment options.
Take care of your HSA and it may grow
There aren’t many accounts where you can make tax-free
contributions and tax-free withdrawals, and enjoy tax-free
growth.** So why not use your HSA to help maximize your
potential to save for your future?
Once you have a minimum balance (typically $1,000) in
your HSA, you can open an investment account. There are
a variety of mutual funds to choose from. There are also
no transfer or trading fees and no minimum investment
amount for a trade request.
Some common eligible expenses may include:
•Deductibles, copays and coinsurance
•Eligible prescriptions
•Vision care, including LASIK laser eye surgery
•Dental care, including orthodontia
Meet Pete,
our interactive
PayFlex adviser
Pay the PayFlex way
Are you considering a PayFlex account? Not sure
how much to contribute? Or how much you’ll
save? Pete, our interactive adviser, is here to help.
He’s friendly and ready to help you understand
the benefits of enrolling in a pretax account and
how much to contribute.
Once funds are available in your HSA, PayFlex makes it
easy to pay for your eligible expenses.
•Use the PayFlex Card®, your account debit card:
When you use the PayFlex debit card, your expense is
automatically paid from your account.
•Pay yourself back: Pay for eligible expenses with cash,
check or your personal credit card. Then withdraw funds
from your HSA to pay yourself back. You can even have
your payment deposited directly into your checking or
savings account.
•Pay your provider: Use PayFlex’s online feature to pay
your provider directly from your account.
Visit payflex.jellyvisionconversation.com
to meet Pete and get
started today.
*The maximum contribution limits are subject to change annually.
**Please note that not all states provide favorable income tax treatment for HSAs.
69.03.617.1 A (10/15)
Are you eligible for an HSA?
To enroll in an HSA, you must be enrolled in a qualified
high-deductible health plan (HDHP). In addition:
•You can’t have other health coverage that pays for
out-of-pocket health care expenses before you meet
your plan deductible.
•You or your spouse can’t have a general-purpose health
care flexible spending account (FSA) or health
reimbursement arrangement (HRA) in the same year.
•You can’t have Medicare or TRICARE, or have received
Veterans Administration (VA) health benefits in the
previous three months.
•You can’t be claimed as a dependent by someone else.
Things to keep in mind
•View the Internal Revenue Service (IRS) contribution limits
and a list of common eligible expense items on the
PayFlex member website.
•Annual contribution limits include contributions made by
both you and your employer (if applicable).
•You can make a one-time, tax-free transfer from an
Individual Retirement Account (IRA). This amount counts
toward your HSA annual contribution limit.
It’s a simple tap with the PayFlex Mobile® app
Managing your account has never been easier.
Simply “tap” to:
•If you’re age 55 or older, you can contribute up to an
additional $1,000 annually.
•If you use your HSA for ineligible expenses, you’ll need to
pay income taxes and a 20 percent penalty tax on that
amount. Note: If you’re age 65 or older or disabled at
the time of this withdrawal, you won’t have to pay the
penalty tax. However, you’re still responsible for paying
income taxes.
•Save your itemized statements, detailed receipts and
any Explanation of Benefits (EOB) statements for your
expense records.
Questions?
Visit payflex.com, or call us directly at 1-844-PAYFLEX
(1-844-729-3539). We’re here to help Monday – Friday,
7 a.m. – 7 p.m. CT, and Saturday, 9 a.m. – 2 p.m. CT.
Get in the game with your
PayFlex coach.
Sign up to receive helpful HSA
tips directly on your mobile
phone. Text “PAYFLEXHSA” to
57320 and reply “YES” to
participate.
üü Check your balance and view alerts
üü Make payments, withdrawals and deposits
üü View PayFlex debit card transactions
üü View common eligible expense items, and more
Note: There may be fees associated with a Health Savings Account (“HSA”). These are the same types of fees you may pay for checking
account transactions. Please see the HSA fee schedule in your HSA enrollment materials for more information.
PayFlex Systems USA, Inc.
This material is for informational purposes only and is not an offer of coverage. It contains only a partial, general description of plan
benefits or programs and does not constitute a contract. It does not contain legal or tax advice. Eligible expenses may vary from
employer to employer. In case of a conflict between your plan documents and the information in this material, the plan documents
will govern. Please refer to your employer’s Summary Plan Description (“SPD”) for more information about your covered benefits.
Information is believed to be accurate as of the production date; however, it is subject to change. For more information about
PayFlex, go to payflex.com.
Investment services are independently offered through a third-party financial institution. By transferring funds into an HSA investment
account you can potentially benefit from capital appreciation in the value of mutual fund holdings. However, you will also be exposed
to a number of risks, including the loss of principal, and you should always read prospectuses for the mutual funds you intend on
purchasing to familiarize yourself with these risks.
The HSA investment account is an optional, self-directed service. We do not provide investment advice for HSA investment account
partipants. You are solely responsible for any investment account decisions you make. Mutual funds and brokerage investments are not
FDIC-insured and are subject to investment risk, including fluctuations in value and the possible loss of the principle amount invested.
The prospectus describes the funds’ investment objectives and strategies, their fees and expenses, and the risks inherent to investing in
each fund. Investors should always read the prospectus carefully before making any investment decisions. System response and
account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance and
other factors.
PayFlex Mobile® is a registered trademark of PayFlex Systems USA, Inc.
©2015 PayFlex Systems USA, Inc.
69.03.617.1 A (10/15)
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