Health Plan Accounts
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Assurant understands that managing your health care costs is important to you:
Health Savings Account and Health Reimbursement Account
We provide you with two account options that can help you save money on your out-of-pocket costs.
This is an account that accompanies the BLUE Plan option. Assurant contributes to your HRA in the beginning of the year. Your account is used to pay for eligible health care expenses, such as your deductible and coinsurance. Anthem and Caremark automatically draw funds from your account to pay for your eligible health care expenses, as long as you have a balance, before calculating your out-of-pocket cost. If the money in your account is not used by the end of the year, the balance rolls over to next year.

Company Contributions
Assurant contributes $200 for individual coverage ($400 family) to this account. You also may be able to earn wellbeing rewards.

Employee Contributions
You are not allowed to contribute to the account.

This is an account that accompanies the GREEN or ORANGE Plan options. You elect to open this account when you enroll. Assurant contributes to your account in the beginning of the year. You also can elect an amount to contribute to your HSA that will be deducted from your paycheck before taxes — that's tax-free savings for health care expenses. You can use your account to pay eligible health care expenses, such as your deductible and coinsurance for Health and Dental Plans. If you don't use the money in your account by the end of the year, the balance rolls over to the next year. All HSA contributions are tax-free when you use them for qualified health care expenses.

The money in your HSA always belongs to you. Also, with the HSA you can:

Choose to save all or part of the money each year for future health care expenses, and take the HSA with you if you leave Assurant (but you will be responsible for all account fees).

If you want to participate in either the GREEN or ORANGE Plan option but don’t qualify for an HSA, please contact HR Services at 866-324-6513, or MyHR@assurant.com within 4 days of enrollment to avoid any adverse tax consequences. Please note: If you maintain an HSA that is not affiliated with current enrollment in an Assurant Health Plan option with an HSA such as the GREEN and ORANGE Plan options, you are responsible for paying the monthly account fee and any other fees. Assurant will not cover fees related to any HSA if you are not enrolled in the GREEN or ORANGE Plan option.

Company Contributions
Assurant will make a contribution to your HSA based upon which coverage level you elect ($200 individual/$400 family). The company contribution will be deposited into your HSA a few days after your first pay period once your HSA is in effect. You also may be able to earn additional wellbeing rewards. Note: For December new hires, Assurant will deposit the annual contribution to your HSA in late January for the following plan year only.

Employee Contributions
You also may elect to contribute to your HSA on a pre-tax basis. Unlike other pre-tax benefits, you can start, stop or change your HSA contributions at any time during the year through MyHR. There are IRS limits to the amount of money you can contribute into your HSA in a year. The maximum amount you can contribute via payroll deductions is the annual IRS maximum less the amount of Company contributions and wellness incentives paid to you.

Health Savings Account (HSA) Contributions
Review the maximum contribution amounts for 2020 Health Savings Accounts (HSA) below. Reminder: Assurant also contributes to your HSA. Look for the deposit into your HSA a few days after your first pay period once your HSA is in effect.

Maximum Annual Contribution Allowed by the IRS

Single

$3,550*

Family

$7,100*

Catch-Up Contributions (must be at least age 55 by Dec. 31, 2020 to be eligible)

Individual

$1,000

• Contributions that exceed the IRS maximums are not tax deductible and are subject to a 20 percent excise tax. Company contributions and earned wellness incentives are included within the maximum contribution limit.

• “Family” includes Employee & Spouse/Domestic Partner, Employee & Child(ren) and Employee & Family.

* Through December 31, 2019, the maximums are $3,500 for single coverage and $7,000 for family coverage.

HSA Fees
Assurant will pay monthly account maintenance fees for employees enrolled in the GREEN or ORANGE Plan option with a HealthEquity HSA. If you do not enroll in the GREEN or ORANGE Plan option and have an HSA (through another administrator), you will be responsible for all fees associated with that HSA.

You are not required to contribute to an HSA to receive the company contribution or to participate in the GREEN or ORANGE Plan option. Depending on your personal finances, consider contributing at least enough so that your contribution, when combined with the company’s contribution, will cover your annual deductible. Using pre-tax dollars to meet the annual deductible means tax savings for you. If you are currently in the GREEN or ORANGE Plan option and you choose to enroll in the BLUE Plan option or waive Health Plan coverage in 2020, you’ll be charged a $2.95 monthly maintenance fee if you have funds remaining in your HSA.

You'll be charged a fee of $1 per month for paper statements. If you haven’t done so already, elect to receive your statement electronically and save $1 every month. Log onto myhealthequity.com.

Investing
Contributions to your HSA will be invested in an interest earning HSA cash account. Once your balance reaches $1,000 you also may invest in a variety of mutual funds. Learn more on the HealthEquity member portal.

Using Your HSA
The funds in your HSA can be used to pay for your qualified health care expenses, including your deductible or coinsurance. Since you own the HSA, you can decide how to use the money in it. You can withdraw HSA funds pre-tax to pay for current qualified health care, dental or vision expenses, or save the money and allow it to grow for use toward health care expenses in the future or in retirement.

Accessing HSA Funds
If you enroll in the GREEN or ORANGE Plan option and are eligible for an HSA, you will receive a debit card from HealthEquity in the mail. To access your HSA funds:

• You can use your debit card to pay for eligible expenses such as prescriptions, deductibles and coinsurance as long as you have funds available in your account.
• Through the HealthEquity member portal you also can pay for your eligible out-of-pocket expenses directly from your online account.

Eligibility for an HSA
To be eligible for an HSA, you must meet the following criteria:

• Have a qualified high deductible health plan (such as the GREEN or ORANGE Plan options)
• Have no other health coverage except what is permitted as other health coverage by the IRS
• Not be enrolled in Medicare
• Not be claimed as a dependent on someone else's tax return
• Not have access to dollars in a General Purpose Flexible Spending Account (FSA) that can pay for any medical expenses before the HSA’s required deductible is met, including a spouse’s Health Care FSA. Limited Purpose FSAs are acceptable other coverage.

If you enroll in a GREEN or ORANGE Plan option with an HSA, but are ineligible for an HSA, you must call HR Services at 866-324-6513 within four business days of your coverage effective date to opt out of the HSA and avoid any adverse tax consequences.

If you are ineligible for an HSA and therefore do not open an account, Assurant’s contribution will be deposited in your paycheck as taxable income.

By opening an HSA, you are consenting to following confirmations:

• You understand that in compliance with the USA Patriot Act, HealthEquity must verify the identity of all individuals who seek to open an HSA. As part of this identity verification process, you may be asked to provide additional information and/or documentation before your account can be established. If you do not provide this information, an account will not be opened for you, you will not receive a company contribution into an HSA, but Assurant's contribution will be deposited into your paycheck as taxable income.
• You understand that your enrollment and health information will be shared with HealthEquity for the purpose of administering and coordinating payments under your Health Savings Account.