HSA Contributions definition

HSA Contributions. Single coverage: the BOARD will make an annual contribution of $500 in the HSA. Additionally, the BOARD will make matching contributions up to $250 in all three years (FY23-FY25) if the staff member contributes a matching amount to the HSA. For an employee with family or employee+kid’s coverage, the BOARD will make an annual contribution of $1,000 in the HSA. Additionally, the BOARD will make matching contributions up to $500 in all three years (FY23-FY25) if the staff member contributes a matching amount to the HSA. Board contributions to HSA accounts will be paid as follows: fifty percent (50%) with the first pay in January, and fifty percent (50%) with the first pay in August. The matching contributions will be paid at the same rate as the employee-elected deductions, until the maximum BOARD contribution has been met.
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HSA Contributions means contributions made to a health savings account as defined in Code §223 in accordance with Article 6 and subject to the applicable limits imposed under Code §223.
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HSA Contributions means the contribution amount elected by the Participant to contribute to the Participant’s HSA under a Compensation Reduction Agreement. In no event shall the amount elected exceed the statutory maximum amount for HSA Contributions applicable to the Participant’s High Deductible Health Plan coverage for the calendar year in which the HSA
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Examples of HSA Contributions in a sentence

  • A Participant who has an election for the General-Purpose Health Care FSA that is in effect on the day immediately preceding the first day of a Plan Year cannot make HSA Contributions for any of the first three calendar months of that same Plan Year, unless the balance in the Participant’s General-Purpose Health Care FSA Account was $0.00 on the day immediately preceding the first day of that same Plan Year.

  • In no event shall the amount elected exceed the statutory maximum amount for HSA Contributions for the calendar year in which the Contribution is made.

  • Employees may start, stop, increase, or decrease their HSA election at any time during the Plan Year, as long as the change is made effective on a prospective basis after the request for the change is received, as further described in the Article titled Health Savings Account (HSA) Contributions.

  • HSA: Contributions to the HSA are tax-free if used for Qualified Medical Expenses (see IRS definition.) During the year, the HSA funds may be used to pay medical expenses under the deductible of the High Deductible Health Plan, or for any other medical or dental expense, The faculty member may set and change the amount of paycheck HSA contribution any time, up to an annual maximum as set by the IRS.

  • HSA Contributions In addition, the City will deposit annually into employee’s HSA plans $1,200 for an individual plan, $2,500 for a 2-party plan and $2,300 for a family plan.

  • Salary Reductions are applied by the Employer to pay for the Participant’s share of the HSA Contributions are considered to be Employer contributions, for the purposes of this Plan and the Code.

  • The Plan Administrator will maintain records to keep track of HSA Contributions an Employee makes via pre-tax salary reductions, but it will not create a separate fund or otherwise segregate assets for this purpose.

  • A limited health FSA is designed to accommodate individuals who are otherwise eligible to make contributions to a Health Savings Account, as described in further the Article titled Health Savings Account (HSA) Contributions.

  • Veterans & HSA Contributions: TRICARE & Other V.A. Medical Benefits TRICARE is a federal program for military veterans who qualify.

  • Note: This restriction does not apply to the HSA Contribution Benefit; you can change your Participant HSA Contributions in other circumstances without a Permitted Change Event as provided in Article VII.


More Definitions of HSA Contributions

HSA Contributions has the meaning set forth in Section 7.10.
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HSA Contributions means pre-tax contributions towards an HSA under this
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Related to HSA Contributions

  • Contributions means the payroll deductions and other additional payments specifically provided for in the Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld during the Offering through payroll deductions.

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Member contributions means all amounts paid to ASRS by a member.

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Elective Contributions are amounts excludible from the Employee's gross income under Code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a Simplified Employee Pension, cafeteria plan or tax-sheltered annuity. The term "Compensation" does not include:

  • Employer Contributions means the amount transferred by an employer to a funding account or a health reimbursement account.

  • In-kind contributions means services and goods as approved by the department that are provided by a grant recipient toward completion of a department-approved local snowmobile program under section 82107.

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Accumulated contributions means the sum of all

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • After-Tax Contributions means amounts withheld from an Employee’s Compensation pursuant to a Salary Reduction Agreement after all applicable state and federal taxes have been deducted. Such amounts are withheld for purposes of purchasing one or more of the Benefit Package Options available under the Plan.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Regular contributions means the amounts required to be

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Additional contributions means contributions made by a member of a defined benefit plan to

  • Participant Contributions means contributions made by the Participant pursuant to an executed Pay Reduction Agreement subject to the Participant Contribution limits contained in Article III.

  • Voluntary Contributions means voluntary amounts contributed by a member or participating member into a health reimbursement account. However, to the extent required by applicable law, voluntary amounts shall not be contributed through a salary reduction election under a cafeteria plan pursuant to section 125 of the internal revenue code, 26 USC 125.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Payments in lieu of contributions means the money payments to