Hourly Enrollment Guide - Pitney Bowes Project
Hourly Enrollment Guide - Pitney Bowes Project
Hourly Enrollment Guide - Pitney Bowes Project
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Health Accounts<br />
A Health Account can be used to cover eligible expenses, such as deductibles,<br />
coinsurance and copayments with tax-free dollars. Your medical plan choice<br />
determines the Health Account(s) that can be paired with it. How the accounts<br />
work and the advantages of each vary, so it’s important you understand the features.<br />
Health Fund: Which Health Account Is Right for You?<br />
Choose a<br />
Health Account<br />
(for the Health<br />
Fund Plan<br />
choose HRA or<br />
HSA; for PPO<br />
and HMO plans<br />
choose HCA)<br />
• HRA: Instant money available starting January 1 that <strong>Pitney</strong> <strong>Bowes</strong> deposits<br />
into the account. This money is used first to pay for your deductible, meaning<br />
you won’t have to pay anything out of your pocket until the account reaches $0.<br />
• HSA: Provides flexibility to save more money for health care expenses, but you<br />
need to fund the account.<br />
What medical<br />
plan must I be<br />
enrolled in?<br />
Health<br />
Reimbursement<br />
Account (HRA)<br />
Health Savings<br />
Account (HSA)<br />
Health Care Account<br />
(HCA)<br />
Health Fund Plan Health Fund Plan PPO or HMO<br />
Who contributes<br />
to the account?<br />
<strong>Pitney</strong> <strong>Bowes</strong><br />
HRA funds are<br />
available on the first<br />
day your benefits<br />
become effective<br />
(new hires) or<br />
January 1 (current<br />
employees).<br />
You and <strong>Pitney</strong> <strong>Bowes</strong><br />
You contribute with<br />
pretax payroll<br />
deductions or after-tax<br />
lump sums—up to the<br />
annual IRS maximums.<br />
Set an annual savings<br />
goal when you enroll.<br />
<strong>Pitney</strong> <strong>Bowes</strong> will match<br />
50% of your pretax<br />
contribution up to:<br />
• $500 for you-only<br />
coverage<br />
• $1,000 for all other<br />
types of coverage<br />
You<br />
You contribute<br />
with pretax payroll<br />
deductions up to the<br />
annual IRS maximum.<br />
Set an annual savings<br />
goal when you enroll.<br />
Contribution<br />
limits<br />
<strong>Pitney</strong> <strong>Bowes</strong><br />
contributes:<br />
• $500 for you-only<br />
coverage*<br />
• $1,000 for all other<br />
types of coverage*<br />
You can not contribute<br />
to the account.<br />
• $3,250 for you-only<br />
coverage<br />
• $6,450 for all other<br />
types of coverage<br />
• Age 55+ can make<br />
up to $1,000 in<br />
“catch-up”<br />
contributions<br />
$2,500<br />
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