Common use of Health Savings Account (H Clause in Contracts

Health Savings Account (H. S.A.): The H.S.A. will be funded at the following levels: Insured H.S.A. Contribution: Employee Only $1,500 Employee and Child $3,000 Employee and Child x 2 or more $3,000 Employee and Spouse $3,000 Employee, Spouse and Child $3,000 Employee, Spouse and Child x 2 or more $3,000 In January of each year the City will deposit 100% of the annual allotted amount into the employee’s H.S.A. Employees hired mid-year will receive a prorated amount into an H.S.A. based on the number of full months remaining in the year. Such payments will commence with the employee’s first pay check (after H.S.A. account info provided), then as scheduled above thereafter. Employees, who have a qualifying event that results in a change in coverage status, e.g., have a child or add a spouse, qualify for the pro-rated amount for the remainder of whole months. Employees may contribute additional money to their Health Savings Account, up to the maximum allowed under federal law.

Health Savings Account (H. S.A.): The H.S.A. will be funded at the following levels: Insured H.S.A. Contribution: Employee Only $1,500 Employee and Child $3,000 Employee and Child x 2 or more $3,000 Employee and Spouse $3,000 Employee, Spouse and Child $3,000 Employee, Spouse and Child x 2 or more $3,000 In January of each year the City will deposit 100% of the annual allotted amount into the employee’s H.S.A. Employees hired mid-year will receive a prorated amount into an H.S.A. based on the number of full months remaining in the year. Such payments will commence with the employee’s first pay check (after H.S.A. account info provided), then as scheduled above thereafter. Employees, who have a qualifying event that results in a change in coverage status, e.g., e.g. have a child or add a spouse, qualify for the pro-rated amount for the remainder of whole months. Employees may contribute additional money to their Health Savings Account, up to the maximum allowed under federal law.