Common use of HSA Contributions Clause in Contracts

HSA Contributions. An employee eligible for a reciprocity payment pursuant to subsections (b) and (c) above and who is eligible to make deductible contributions to a health savings account for the year may direct the City to contribute any portion of the reciprocity payment up to the limit for deductible contributions for the year to the employee’s health savings account established pursuant to Article 18. The City shall establish reasonable written procedures to be used by employees who desire to direct reciprocity payments into their HSAs. The City shall deposit the employee’s selected contribution into the employee’s health savings account within the first quarter of each calendar year, beginning with the reciprocity payment made in 2020.

HSA Contributions. An employee eligible for a reciprocity payment pursuant to subsections (b) and (c) above and who is eligible to make deductible contributions to a health savings account for the year may direct the City to contribute any portion of the reciprocity payment up to the limit for deductible contributions for the year to the employee’s health savings account established pursuant to Article 18. The City shall establish reasonable written procedures to be used by employees who desire to direct reciprocity payments into their HSAs. The City shall deposit the employee’s selected contribution into the employee’s health savings account within the first quarter of each calendar year, beginning with the reciprocity payment made in 2020.