Health Savings Account (HSA

NVA’S HSA PROVIDER IS OPTUM BANK

A Health Savings Account (HSA) is an individually-owned, tax-advantaged account that you can use to pay for current or future qualified medical, prescription, dental and vision expenses. You must be enrolled in the UHC HSA plan in order to have an HSA opened on your behalf with Optum Bank. With an HSA, you’ll have the potential to build more savings for health care expenses or additional retirement savings through self-directed investment options. NVA provides an employer contribution to your HSA, regardless of the amount you contribute. NVA’s contributions are funded to your HSA account following each pay period (based on 26 pay periods). You are not taxed on these contributions, and you may also contribute tax-free dollars to your HSA account. NVA will contribute the following amounts directly into your account:

Employee Only Employee + Dependent(s) NVA’s Contribution per Month

$25 ($11.54 per pay period) $50 ($23.08 per pay period)

2021 IRS Contribution Limits (Total Contributions from You and NVA)

$3,600 $7,200

HOW IT WORKS: You may only access up to the balance in your HSA at the time the expense is incurred. For example, you may elect to contribute $500 to your HSA during 2021. If you only have $125 in your account in March and you have a $200 expense, you can only pay $125 of the expense from your HSA.

NEED TO CATCH-UP?

Accountholders that are age 55 or older (regardless of when in the year an accountholder turns 55) are eligible to make an HSA catchup contribution of $1,000. (Cannot be enrolled in Medicare. If an accountholder enrolls in Medicare mid-year, catch-up contributions should be prorated.)

ELIGIBILITY

You must not be covered by any other medical plan, unless it is also an HSA-eligible HDHP. • You must not be enrolled in Medicare. • You must not receive health benefits under TRICARE. • You must not have received VA benefits within the last three months. • You cannot be claimed as a dependent on another person’s tax return, except as a spouse. • Neither you nor your covered spouse may participate in a health care flexible spending account, unless it is a “limited FSA” used for dental and vision services only.

LOOK AT THESE ADVANTAGES!

If you pay out-of-pocket, you can reimburse yourself!

You can pay for qualified medical, prescription, dental and vision expenses with your HSA Card directly to your provider. Check out this list of eligible expenses: https://www.optumbank.com/ resources/medical-expenses.html

Unused funds will roll over year to year.

Save for retirement! After age 65, funds can be withdrawn for any purpose without penalty (subject to ordinary income taxes).

HSA funds earn interest and investment earnings are tax free.

Check balances and account information via Optum Bank’s Member Website at www.optumbank.com.

You can change your pre-tax contribution during the year by contacting benefits@nva.com.

You can contribute to your HSA via payroll deduction, online banking transfer, or by sending a personal check to Optum.