If you enroll in the Aetna Healthfund Choice plan, you may be eligible to open a Health Savings Account (HSA), through HealthEquity, to help pay for eligible expenses not covered under your medical, dental, or vision plan. This includes things like orthodontics, glasses and contact lenses, and prescription medications. An HSA makes it easy to pay for current health care costs and save for future health care needs, even into retirement.
You can contribute pre-tax dollars from your paycheck up to the annual IRS maximums to pay for eligible health care expenses. Cradlepoint contributes FREE money to your HSA. See the breakdown of employee and employer contributions shown in the charts below.
Note: If you make changes to your plans mid-year due to a family status change, do not forgot to adjust your HSA contributions accordingly so you do not exceed the annual IRS maximums.
HSA contributions cannot exceed the annual IRS maximums shown here:
Coverage Type | 2023 Cradlepoint HSA Contribution* | 2023 Maximum Employee Contribution** | 2023 IRS Contribution Limit |
---|---|---|---|
Individual Coverage | $1,250 | $2,600 | $3,850 |
Family Coverage | $2,500 | $5,250 | $7,750 |
Age 55+ Catch-up Contribution | Additional $1,000 |
*Annual contributions are prorated based on when your coverage begins.
**Your annual maximum contribution may change, if Cradlepoint’s annual HSA contribution is prorated.
When you enroll in an HSA, you will receive a HealthEquity debit card. You can also submit claims online through your own personal account at www.healthequity.com.
While on www.healthequity.com, be sure to check out their Open Enrollment center where you can learn all about qualified medical expenses and contribution limits, and then compare your options using the savings calculator.
HealthEquity’s mobile app makes it easier to manage your account on-the-go. With the app, you can take a photo of your receipts to initiate the claims process, send payments to providers or reimburse yourself for out-of-pocket expenses. Download now on the App Store or on Google Play.
You can also review your account balance, shop on www.HSAStore.com or view a list of qualified medical expenses before you make a purchase.
HSA Eligibility Requirements:
*State taxes may still apply in CA and NJ. For detailed tax implications of an HSA, please contact your professional tax advisor.
Questions?
Refer to IRS Publication 969 for complete HSA rules.
This website highlights some of your benefit plans. Your actual rights and benefits are governed by the official plan documents. If any discrepancy exists between this communication and the official plan documents, the plan documents will prevail. The company reserves the right to change any benefit plan without notice. Benefits are not a guarantee of employment.
Benefits Administrator
1-208-472-4864
benefits@cradlepoint.com