If you elect coverage under the Medical plan, you will need to enroll in the Health Savings Account (even if you do not wish to make additional contributions of your own) so that you will receive additional funds from Maritz to help you pay for expenses that are applied to the medical plan deductible or other out-of-pocket costs.
Maritz will make contributions to the HSA for each employee enrolled in the Maritz medical plan each calendar year. The amount contributed each calendar year will depend on the number of full calendar quarters during the year you are enrolled and the coverage tier you elect (employee only, employee and spouse, employee and children, employee and family).
Beginning January 1, 2019: The Maritz contribution to your HSA account will be made on the first paycheck of each calendar quarter. Refer to the chart below for the schedule of contribution dates and amounts. There will be a retroactive contribution made for any new hire or midyear status change entered within the 31-day enrollment window but after the regular scheduled quarterly contributions have been processed. Any new enrollments with effective dates after the first day of a calendar quarter will not be eligible for a Maritz contribution for that quarter.
If you are enrolling in the plan for the first time, a bank account will be opened for you with Discovery Benefits, the company that administers our HSA. You will need to pass a U.S. Patriot Act identity verification process, which is a legal requirement for all new bank accounts opened in the U.S. There is nothing you need to do initially. The process happens automatically “behind the scenes” when Discovery Benefits opens your HSA account. If any information Maritz sends to Discovery (as listed in Workday), does not match the information in the government database for you, Discovery Benefits will send an email asking you to send them additional documentation to satisfy the identity verification process. For example, if your last name does not match the last name they have on file for your social security number, they will ask you to send them a copy of your Social Security card. If you have not successfully passed the identity verification process within 60 days after your bank account is opened, the account will be closed and any funds deposited to the account will be returned.
Important Note: You cannot receive or make HSA contributions if you (the employee) are also covered on another plan that is not a high-deductible plan (i.e., Medicare (including Part A), a PPO, or HMO). If you have coverage under both the Maritz medical plan and another medical plan that is not a high-deductible plan, notify the Benefits Department at (636) 827-4088 immediately to determine if you are eligible to have a Health Savings Account. If your spouse is enrolled in your medical plan but also has coverage that is not a high-deductible plan, this does not limit your ability to contribute to your HSA account up to the family limit. However, if your spouse participates in a Health Care Flexible Spending Account (FSA), you are NOT eligible to participate in the Maritz Health Savings Account (HSA) per IRS regulations, unless the spouse’s FSA is a limited-purpose FSA (one that can only be used for dental and vision expenses, not medical). Although you may not be intending to submit claims for your own expenses to your spouse’s FSA, the fact that you are eligible to do so makes you ineligible to participate in the HSA according to IRS rules.
If you will become eligible for Medicare coverage in 2019, and intend to remain on the Maritz medical plan, you MUST decline all parts of Medicare, including Part A which is free to most people. If you don’t, you must notify the Benefits Department so we can waive your HSA.
If you are enrolled in a Health Savings Account (HSA), you also have the ability to make pre-tax employee contributions in addition to the Maritz contributions paid to the account (This means you must be enrolled in the Maritz medical plan in order to make employee contributions to the HSA.). This is a great way to lower your out-of-pocket costs by paying for expenses with pre-tax dollars.
2019 HSA contribution limits per calendar year (for employee and employer contributions combined):
$3,500 if you have employee only medical coverage
$7,000 if you cover at least one or more family members
If you are age 55 or above, you are eligible to make catch-up contributions up to an additional $1,000 per calendar year.
You must have at least one family member enrolled in the Maritz medical plan in order to contribute up to the $7000 limit. However, if you enroll in employee-only medical coverage, you have the option to use your contributions towards family member expenses who are not enrolled on the Maritz medical plan.
Employee contributions to the HSA are available for use as they are paid into the account. – the full annual election is NOT available on January 1.
You can make changes to your HSA elections at any time during the year – no change in status required. Simply go to Workday, select the Benefits application, then Change, Benefits, and select the Benefit Event type of Change HSA Contribution - All Non-CX Employees. You have the ability to increase contributions in anticipation of upcoming procedures or services to make funds available earlier in the year, if desired. You also have the ability to file a claim for payment or reimbursement later in the year once more funds have accumulated in the account.
The employee chooses which expenses are paid with HSA funds. You may wish to use the funds for medical or prescription expenses applied to the medical plan deductible, or for dental or vision expenses. The decision is yours!
The Discovery Debit Card
Your Discovery debit card is an easy and convenient way to pay for your out-of-pocket expenses.
• Present the card to the local pharmacy to pay for prescriptions or to the eye doctor for your portion of vision expenses.
• Enter the card number on the Express Scripts website to have your cost of mail order prescriptions paid directly from your HSA account.
• Write the HSA debit card number on the remittance copy of the bill you receive from your medical or dental provider and mail back to the provider, or call their office to give them the debit card information to pay for expenses from your HSA funds.
We recommend that you wait to pay for medical and dental expenses until the insurance company has processed the claim and calculated your portion of the expense, instead of paying at time of service with your HSA debit card. This will prevent paying more than you owe from your HSA account. If you do pay at time of service, carefully review the Explanation of Benefits statement (EOB) you receive from the insurance company after they have processed the claim to ensure you have paid the exact amount owed and have not had too much deducted from your HSA. If you have, ask the provider to credit your HSA debit card to refund the difference to your account.
Replacement debit cards or additional cards for family members can be ordered online at discoverybenefits.com. If this is the first year you are in the HSA account, a debit card will automatically be mailed to you in late December once your HSA bank account has been opened.
In addition to paying for your portion of expenses with your HSA debit card, you also have the option to go to the discoverybenefits.com website and enter a claim to have a check sent by Discovery directly to a provider or directly to you if you have already paid and need to be reimbursed.
No Documentation Needed
There is no documentation required to validate HSA claims. However, you must keep receipts in case of an IRS audit. You are solely responsible for ensuring you are submitting expenses that are eligible and for keeping records of all supporting documentation. For a list of eligible expenses, if you are not yet enrolled in the HSA, go to www.irs.gov and search for Publication 502. If you have an existing HSA account, go to discoverybenefits.com.
No Deadline to Submit HSA Claims
There is no deadline to submit HSA claims. Requests for payment or reimbursement can be made at any time in the future, as long as the bank account remains open and funds are available, provided the service dates were incurred after the date the account was opened.
Invest for the Future
Once your HSA balance reaches $1,000 you have the option to invest any funds over that $1,000 balance and use this account as a savings vehicle. There are approximately 25 different mutual fund options to choose from through Discovery, the HSA provider. Visit discoverybenefits.com for more information.
Funds Are Never Forfeited
If you have HSA funds remaining in your account at the end of the calendar year, the balance will rollover to the next year. You never lose those funds. You are the owner of this bank account, which means if you later cancel your Maritz medical coverage or leave the company, the bank account and any remaining balance stays with you and is yours to keep.