Common use of Swedish HSA Medical Plan Clause in Contracts

Swedish HSA Medical Plan. For each plan year covered by the contract, employees enrolled in the HSA Medical Plan will receive up to $700 as a contribution to the Health Savings Account based on participation in the wellness program, as well as up to an additional $700 if their enrolled spouse or domestic partner also participates in the wellness program (maximum of $1,400 per employee). Child(ren) need not participate in the wellness program to receive these funds. For those employees who become newly eligible for and enrolled in the HSA Medical Plan who are newly hired or newly benefits-eligible will receive the full health incentive amount in the first year of their enrollment; the incentive will amount will depend on which plan they elect. Employees who elect the Swedish HSA Medical Plan with an effective date of July 1 or later in the year, the employee will automatically receive 50% of the maximum health incentive contribution subject to regulations and payroll cycles.