U n ive r s i t y o f V i rg i n i aHealth Savings Account

Internal Use Only

Welcome to Chard Snyder Today

An employee benefits solution provider since

1988

Currently service nearly 1,400 companies

nationwide

Empowering you to make the most of your

money today and tomorrow

Internal Use Only

Internal Use Only

A Health Savings Account (HSA) is a special bank account you put pre-tax money into to pay for eligible expenses

You own the account

Savings on eligible items and services

Lower your taxable income

What is a

Health Savings Account

Internal Use Only

Save Money by Contributing Tax Free

Use Your Health Savings Account Tax Free

Build a Healthcare Retirement “Nest Egg”

1

2

3

The HSA Gives You Three Ways to Save

Internal Use Only

The HSA Advantage Gives you Control of Your Money

• Pay for qualified medical expenses for your family

• Investment opportunities to save for retirement

• You own the account … it goes with you

• After age 65, no IRS penalty for using funds for non-healthcare purchases (taxes may apply)

• Contributions from your employer

The Benefits of Enrolling in

The HSA AdvantageTM

Internal Use Only

• Must have insurance coverage in a consumer-driven High Deductible Health Plan only

• Have no other first-dollar medical coverage

• Self or spouse is not enrolled in a full healthcare FSA

• Not claimed as a dependent on another person’s tax return

• You (the employee) are not enrolled in Medicare or have not received veteran’s services in the past three months that are non-service related

• You have not already made maximum contributions to another HSA

Who is HSA Eligible?

Internal Use Only

• Automatically deposited into your HSA through payroll

• This year you will receive:

• $1,000 for single coverage

• $1,500 for single plus one or family coverage

• You choose if you would like to contribute

• The amount you choose is deducted from your paycheck tax-free

• Can be changed anytime during the year

Employer Contributions Employee Contributions

Your annual contribution amount cannot exceed IRS annual limits (Employer and Employee Combined)

Employer vs. Employee

HSA Contributions

Internal Use Only

• The total amount you can contribute to your HSA in a calendar year is determined by the IRS

• These amounts include Employer AND Employee contributions

• An additional $1,000 is allowed for those 55 and over

2018 2019

Single $3,450 Single $3,500

Family $6,900 Family $7,000

If you have an Individual or Family limit, your family (tax-dependents and spouse) may use your HSA funds

How Much Can I Contribute?

Internal Use Only

Eligible Expenses

Chiropractors

Contact Lenses / Solution

Dental Treatment

Eye Exams / Eyeglasses

Hospital Services

Laboratory Fees

Orthodontia

Prescription Drugs

and more

Ineligible Expenses

Cosmetic Services

Massage Therapy

Fitness Memberships

Teeth Whitening

Weigh-Loss Programs

Nutritional Supplements

Etc.

Where Can You Use Your HSA Funds?The IRS sets the rules on what services and items are eligible

What are the HSA

Eligible Expenses

Internal Use Only

Chard SnyderCustomer Service

Call us with any questions

Chard Snyder Website

Visit our website to find a full list of eligible items

Chard Snyder Mobile AppScan items for

eligibility before you buy

We Can Help You With Eligible Expenses

Internal Use Only

Use your Chard Snyder Benefit Card for a simple way to pay – your payment comes right out of your account.

As of September 1, 2018, The Benny prepaid benefit card will be replaced by the Chard Snyder Benefit Card.

Using The

Chard Snyder Benefit Card

Medical and Dental Offices

Vision Care

Urgent Care

Hospitals

Emergency Room visits

Lab and Diagnostic facilities

and more

Internal Use Only

• The Chard Snyder Benefit Card can only be used for eligible expenses

• The Benefit Card is good for five years

• Save your itemized receipts when using the card

• Whomever signs the back of the card, owns the card

Chard Snyder Benefit Card

Rules & Reminders

Internal Use Only

• Go online and pay bills directly to providers

• Self-pay at time of purchase or service and then pay yourselfback from your HSA.

• It’s a Simple transfer of funds process

Another Way to Access HSA Funds

You must be able to show the IRS that any money you took out of your HSA was for eligible expenses.

Internal Use Only

You may transfer an existing HSA into your HSA Advantage Account

• Grow your HSA Advantage account with self-directed mutual fund investments.

• Decide how much you want to keep in cash and set the threshold ($1,000)

• HSA Advantage will sweep funds into out of your interest-bearing account.

You Can Invest Your

HSA AdvantageTM Savings

Internal Use Only

Once you reach the threshold amount in your HSA account you can begin to invest.

• Log in to your account and click on Manage Investments

• The HSA Investment Account page displays your portfolio, performance, elections, and returns.

• Select funds, and update future elections within the dashboard

Health Savings Account Investments

Internal Use Only

Spouse is the designated beneficiary. it will be treated as your spouse's HSA after your death.

Spouse isn’t the designated beneficiary. • The account stops being an HSA, and• The fair market value of the HSA becomes taxable to

the beneficiary in the year in which you die.

If your estate is the beneficiary, the value is included on your final income tax return.

Add or update your Beneficiaries online in the Chard Snyder portal

Your Health Savings Account Beneficiary

An employee benefits solution provider

since 1988

Currently service nearly 1,400 companies

nationwide

Empowering you to make the most of your

money today and tomorrow

Internal Use Only

Log into your account

• View your balance• Manage Investments • Upload your receipts• Update your information • Enable Text Alerts

Tools and Support

• Frequently asked questions• Videos• Forms• Tools

www.chard-snyder.comThe Chard Snyder Website

Internal Use Only

Chard Snyder Mobile App

• View investment summary

• View account balances and transactions

• Request reimbursements

• Scan products for eligibility(Plan restrictions may apply)

Manage your plan on the go

Chard Snyder Mobile App

Internal Use Only

The Chard Snyder Benefit Card Good for 5 years; expiration date is on cardOnly use for eligible expenses

Save All of Your Itemized Receipts

Receipts must have:

• Name of person who incurred the service or expense• Date of service during plan year• Type of service• Providers name and address• Amount you owe

You may be asked to provide proof at tax time your expenses from you HSA were eligible

Follow the IRS Rules• IRS penalties and perhaps further auditing• 20% excise tax• Income taxes are applied

Things to Remember When Using your

Health Savings Account

Internal Use Only

Customer ServiceLive Chat, Call, Email or Fax

800.982.7715 | askpenny@chard-snyder.com

Chard Snyder Website

www. chard-snyder.comAccount AccessForms & Resources

Chard Snyder Mobile App

• Access Balance and Transactions• Submit Claims

How Can We Help You?

Tools & Technology

Your

tomorrow

today www.chard-snyder.com