Common use of Employer Partially Funded Health Savings Accounts and Health Reimbursement Accounts Clause in Contracts

Employer Partially Funded Health Savings Accounts and Health Reimbursement Accounts. Subject to the requirements of the insurer and terms of the Plan Documents, an employee may choose between a Health Saving Account (HSA) or Health Reimbursement Accounts (HRA). Effective January 1, 2021 through December 31, 2021, if an employee elects an HSA or HRA, the maximum annual deductible amounts shall be partially funded by the City, where the City will fund $1,500 per year for single plans (funded on a single annual payment basis effective on or before January 10, 2021 and $3,000 per year for family plans (funded on a single annual payment basis effective on or before January 10, 2021. Employee contributions for calendar year 2022 and 2023 will be determined in accordance with the Reopener in Article 36.‌ If an employee elects an HRA, the City funded amounts will be eligible for rollover in an amount not to exceed the annual maximum deductible. The City’s contribution for the HRA will be up to the above-referenced amounts and/or the annual maximum deductible; provided that, the City will not fund any amount exceeding the annual maximum deductible. The City shall increase the payment into the HSA/HRA account of an employee to the full family plan rate when an employee changes their status from single to family throughout the year. The employee will be responsible for any taxes due that result from the City’s pre-funding of employee HSA accounts on the first business day following January 10TH of each year.

Employer Partially Funded Health Savings Accounts and Health Reimbursement Accounts. Subject to the requirements of the insurer and terms of the Plan Documents, an employee may choose between a Health Saving Account (HSA) or Health Reimbursement Accounts (HRA). Effective January 1, 2021 through December 31, 2021For each plan year, if an employee elects an HSA or and/or HRA, the maximum annual deductible amounts shall be partially funded by the City, where the City will fund $1,500 per year for single plans (funded on a single annual payment basis effective on or before January 106, 2021 2018 and each successive year while the employee is currently employed) and $3,000 per year for family plans (funded on a single annual payment basis effective on or before January 106, 20212018 and each successive year while the employee is currently employed), for three plan years. Employee contributions for calendar year 2022 and 2023 will be determined in accordance with the Reopener in Article 36.‌ If an employee elects an HRA, the City funded amounts will be eligible for rollover in an amount not to exceed the annual maximum deductible. The City’s contribution for the HRA will be up to the above-referenced amounts and/or the annual maximum deductible; provided that, the City will not fund any amount exceeding the annual maximum deductible. The City shall increase the payment into the HSA/HRA account of an employee to the full family plan rate when an employee changes their his or her status from single to family throughout the year. The employee will be responsible for any taxes due that result from the City’s pre-funding of employee HSA accounts on the first business day following January 10TH 1 of each year.