Because you’re family, we want you to stay happy and healthy—now and in the future. When you participate in the UnitedHealthcare $1,500 or $2,500 plan, you will have the opportunity to enroll in a personal savings account for your healthcare, called a Health Savings Account (HSA). Both you and Ancestry set aside tax-free money, which you can then use to pay for medical, dental, and vision expenses. It’s a great way to save money while tending to your well-being.
Ancestry’s HSA contribution
Here’s a breakdown of the annual/monthly contribution*:
|UHC $1,500 Deductible Plan||UHC $2,500 Deductible Plan|
|Employee + Spouse/Partner||$1,500/$125||$2,500/$208.33|
|Employee + Child(ren)||$1,500/$125||$2,500/$208.33|
*Employer contributions to your HSA are deposited each pay period.
For 2020, you can contribute up to the annual IRS limit of $3,550 for individuals or $7,100 for family coverage (this amount includes Ancestry’s contribution)
To be eligible for an HSA, you must be enrolled in a high deductible health plan (HDHP) and you may not:
- Have a Health Care FSA (including your spouse’s/domestic partner’s FSA)
- Be claimed as a tax dependent
- Be enrolled in Medicare, Medicaid or Tricare
- Be enrolled in any other medical plan that’s not a high deductible health plan (HDHP)
How the HSA Works
- Register at www.optumbank.com and if you are a UHC participant, access your account through www.myuhc.com. All other participants should continue to use www.optumbank.com.
- You can change your contribution amount or stop contributing at any time.
- It’s like a bank account that you manage to pay for your healthcare expenses.
- You can use your HSA debit card to pay for eligible expenses or reimburse yourself for payments you’ve made (only money you’ve already contributed can be spent).
- Any unused money can be carried over each year and invested for the future—you can even take it with you if you leave your job or retire.
- Still gives you the option to contribute to a Limited Purpose Flexible Spending Account (LPFSA) for additional tax savings. Please note that LPFSA funds can only be used for dental and vision expenses.
- You will receive an email from UHC/Optum Bank that will ask you to confirm your identity/address before you can utilize the account.