bank of america health care accounts can help you save … · the bank does not contribue to a...
TRANSCRIPT
The bank does not contribue to a Limited Purpose
Bank of America health care accounts can help you save money
Which plans is this account available for?
What would I use thisaccount for?
What is the maximum I can contribute for 2018?
How much will the bankcontribute?
When are the fundsavailable?
What happens if there’s
at the end of the year?
Any eligible health care expense and to save for health care expenses in retirement
Only for eligible vision and dental expenses
Employee contributions may not be made to an HRA.The IRS pretax
contribution limit
$2,650$6,900
$3,450 Employee-only coverage
Family coverage
The bank does not contribute to a Limited Purpose FSA.
Your contributions and the bank’s are available at the beginning of the year, or when your coverage begins.
The bank’s entire contribution is available at the beginning of the year, or when your coverage begins.
Your entire contribution is available at the beginning of the year, or when your coverage begins.
All unused funds will roll over from one year to the next and remain available, as long as you stay enrolledin a plan that works with an HRA.
All unused funds will roll over from one year to the next.
cal
The IRS pretaxcontribution limit
$2,650
CO
MPREHENSIVE
PPO
CONS
UMER DIRECTED
HIGH
DEDUCTIBLE
CONS
UMER DIRECTED CONS
UMER DIRECTED
HIGH
DEDUCTIBLE
CON
SUMER DIRECTED
$500 $500
$800
Employee-only
Employee plus spouse/partnerOR plus child(ren)
Family
Less Than
$50k - $100kLess Than
$100k - $250kLess Than
$500 $400 $300
$750 $600 $450
$1,000 $600
000000000 000000000
PAYCHECK
$$$$+
All $
If you’ll be at least 55 years old in 2018, you can make an additional $1,000 catch-up contribution.
CO
MPREHENSIVE
PPO
CON
SUMER DIRECTED CO
NSUMER DIRECTED
HIGH DEDUCTIB
LE
Up to $500 in unused funds will automatically roll over to next year.
Up to $500 in unused funds will automatically roll over to next year.
?
With the Consumer Directed High Deductible Plan, these can be paired to save for future health care expenses while paying for eligible vision and dental care today.
The bank does not contribute to this account.
All $ Over$1,000
Powered by
Health Flexible SpendingAccount (FSA)
Health ReimbursementArrangement (HRA) Health Savings Account (HSA) Limited Purpose FSA
?DEC
$JAN
$JAN
With the Consumer Directed Plan, these can be paired. You add pre-tax money from your paycheck
to the FSA. The bank contributes to the HRA.
$JAN
$JAN
In the HSA, these amounts count toward the IRS maximum.
Cash Compensation
Any eligible health care expense Any eligible health care expense
© 2017 Bank of America Corporation. All rights reserved. Bank of America, N.A., member FDIC.
Visit HR Connect on Flagscape® for more information about available benefits.Review important legal disclaimer.
$50k
8
View list of eligible expenses. For a full list, visit irs.gov. View list of eligible expenses. For a full list, visit irs.gov. View list of eligible expenses. For a full list, visit irs.gov.
The bank’s contribution is available at the beginning of the year, or when your coverage begins. Your contributions build over time with each paycheck. Balances over $1,000 can be invested.