Medical Savings Account. 2 Nurses will have a choice of either a Health Reimbursement Account (HRA) or a Health Savings 3 Account (HSA) based on their medical plan election. Plan Feature Health Reimbursement (HRA) Medical Plan Health Savings (HSA) Medical Plan Earned health incentive contribution Note: Amounts are prorated for nurses hired mid-year $700 Individual $1,400 Family $700 Individual $1,400 Family Annual in-network net deductible (deductible minus health incentive) $450 per person $900 max per family $800 employee only $1,600 if covering dependents Annual in-network out-of- pocket maximum (with deductible) $3,300 per person $6,600 max per family $3,000 employee only $6,000 if covering dependents Annual in-network net out- of-pocket maximum (with in-network deductible) $2,600 per person $5,200 max per family $2,300 employee only $4,600 if covering dependents 4 Any balance left in year in the Health Reimbursement Account (HRA) or the Health Savings 5 Account (HSA) that is unused at the end of the plan year may be rolled over to the HRA or HSA 6 account for the next plan year in accordance with the terms of the accounts. If the nurse has 7 been employed for at least five (5) consecutive years with the Medical Center, he or she may 8 use the money in the HRA deposited prior to 2016 upon termination of employment for 9 purposes permitted by the plan. Nurses on an unpaid leave may also use the balance in the 10 HRA to pay for COBRA premiums. 11
Medical Savings Account. Either party may request to open the agreement with respect to medical savings accounts (x.x. XXXX).
Medical Savings Account. Nurses will have a choice of either a Health Reimbursement Account (HRA) or a 3 Health Savings Account (HSA) based on their medical plan election. Earned health incentive contribution Note: Amounts are prorated for nurses hired mid-year $700.00 per person $1,400.00 max per family $700.00 employee only $1,400.00 if covering dependents Annual in-network net deductible (deductible minus full health incentive) $450.00 per person $900.00 max per family $800.00 employee only $1,600.00 if covering dependents 4 Any balance left in year in the Health Reimbursement Account (HRA) or the 5 Health Savings Account (HSA) that is unused at the end of the plan year may be 6 rolled over to the HRA or HSA account for the next plan year in accordance with 7 the terms of the accounts. If the nurse has been employed for at least five (5) 8 consecutive years with the Medical Center, they may use the money in the HRA 9 deposited prior to 2016 upon termination of employment for purposes permitted 10 by the plan. Nurses on an unpaid leave may also use the balance in the HRA to 11 pay for COBRA premiums.
Medical Savings Account. Nurses will have a choice of either a Health Reimbursement Account (HRA) or a Health Savings Account (HSA) based on their medical plan election. Earned health incentive contribution Note: Amounts are prorated for nurses hired mid-year (on or after July 1) $700 per person $1,400 max per family $700 employee only $1,400 if covering dependents Annual in-network net deductible (deductible minus health incentive) $450 per person $900 max per family $800 employee only $1,600 if covering dependents Annual in-network out-of- pocket maximum (with in- network deductible) $3,300 per person $6,600 max per family $3,000 employee only $6,000 if covering dependents Annual in-network net out- of-pocket maximum (out- of-pocket maximum minus health incentive) $2,600 per person $5,200 max per family $2,300 employee only $4,600 if covering dependents Any balance left in year in the Health Reimbursement Account (HRA) or the Health Savings Account (HSA) that is unused at the end of the plan year may be rolled over to the HRA or HSA account for the next plan year in accordance with the terms of the accounts. If the nurse has been employed for at least five (5) consecutive years with the Medical Center, he or she may use the money in the HRA deposited prior to 2016 upon termination of employment for purposes permitted by the plan. Nurses on an unpaid leave may also use the balance in the HRA to pay for COBRA premiums.
Medical Savings Account. Effective January 1, 2007, the City shall cause to be created a Health Reimbursement Arrangement/Voluntary Employee Beneficiary Association (Hereinafter HRA/VEBA) under Section 501(c)(9) of the Internal Revenue code for each employee of the bargaining unit eligible for medical insurance. Effective with the January 1, 2007 payroll, and each payroll thereafter for the duration of this contract, the City shall contribute $140 per month to each employee’s said account. Eligibility shall mean each full-time employee receiving full medical benefits as described in Section 11.1
Medical Savings Account. Nurses will have a choice of either a Health Reimbursement Account (HRA) or a Health Savings Account (HSA). Plan Feature Health Reimbursement Medical Plan Health Savings Medical Plan Contribution $700 Individual $1400 Family $700 Individual $1400 Family Annual net deductible (deductible minus health $450 per person $900 max per family $800 employee only $1,600 if covering incentive) dependents Annual out-of-pocket maximum (with deductible) $3,300 per person $6,600 max per family $3,000 employee only $6,000 if covering dependents Any balance left in the Health Reimbursement Account (HRA) or the Health Savings Account (HSA) that is unused at the end of the plan year may be rolled over to the HRA or HSA account for the next plan year in accordance with the terms of the accounts or any applicable/required laws. If the nurse has been employed for at least five years with the Medical Center, he or she may use the money in the HRA upon termination of employment for purposes permitted by the plan. Nurses on an unpaid leave may also use the vested balance in the HRA to pay for COBRA premiums. In 2016, HRA funds (those associated with the Health Reimbursement Medical Plan) will be available to cover eligible Providence employee dental and vision plan expenses, and not just HRA Medical Plan expenses. HRA funds deposited after Jan. 1, 2016, will no longer be available for use after termination from Providence unless enrolled in COBRA.
Medical Savings Account. The City shall contribute 1.2% of each employee’s gross salary per pay period to each employee’s HRA VEBA account. In addition, the City shall pay a one-time lump sum contribution of $250 (two hundred fifty dollars) to each employee’s HRA XXXX account. This contribution will be paid July 12, 2021 to the individual accounts.
Medical Savings Account. This Custodial Account Agreement may not be used to establish a Medical Savings Account, as defined in section 220 of the Code, or to accept contributions made by or on behalf of any Participant in same.
Medical Savings Account. Either party may request to open the agreement with respect to medical savings accounts (e.g. VEBA).
Medical Savings Account. Nurses will have a choice of either a Health Reimbursement Account (HRA) or a Health 3 Savings Account (HSA) based upon their medical plan election. In- network Plan Feature Health Reimbursement (HRA) Medical Plan Health Savings (HSA) Medical Plan Maximum Earned health incentive Note: amounts are pro-rated for nurses hired mid- year $700 Individual $1,400 Family $700 Individual $1,400 Family Annual in-network net deductible (deductible minus health incentive) $450 per person $900 max per family $800 employee only $1,600 if covering dependents Annual in-network out- of-pocket maximum (with in-network deductible) $3,300 per person $6,600 max per family $3,000 employee only $6,000 if covering dependents 4 Any balance left in the Health Reimbursement Account (HRA) or the Health Savings 5 Account (HSA) that is unused at the end of the plan year may be rolled over to the HRA 6 or HSA account for the next plan year in accordance with the terms of the accounts or 7 any applicable/required laws. If the nurse has been employed for at least five (5) 8 consecutive years with the Medical Center, he or she may use the unused money in the 9 HRA deposited prior to 2016 upon termination of employment for purposes permitted by 10 the plan. Nurses who change to a non-benefits eligible status may also use the vested 11 balance in the HRA to pay for COBRA premiums. In 2016, HRA funds (those 12 associated with the HRA Medical Plan) will be available to cover eligible 13 Providence employee dental and vision plan expenses, and not just HRA Medical
