Dear Delphi Retiree or Eligible Dependent:
Did you know that DSRA-BT offers medical plans that are specifically designed to meet the IRS requirements that allow you to establish and make contributions to a Health Savings Account (HSA)? The pre-65 BRONZE and COPPER medical plans are the only plans that meet the requirements for plan participants to be eligible to establish an HSA.
- Tax credit for contributions to the account
- Tax-free earnings
- Tax-free withdrawals for qualified expenses, as per IRS code 213(d); sample eligible expenses include:
o Out-of-pocket expenses like deductibles and coinsurance
o Hospital, lab, and diagnostic services
o Prescription drugs
o Artificial teeth
o Dental treatment (like cleanings, fillings, extractions, orthodontics)
o Contact lenses, eyeglasses, and reading glasses
o Eye exams
o Laser eye surgery
* Please note that the BRONZE and COPPER medical plans do not include dental or vision coverage; these benefits would be separate elections from your medical plan election.
If you elect to participate in the BRONZE or COPPER medical plans, you are eligible to establish an HSA through the financial institution of your choice!
Additional details about Health Savings Accounts are available in the 2019 Guide to Benefits for Pre-65 Members and the Health Savings Account FAQs, which can be found on our website – www.dsrabenefittrust.net – along with all of the materials related to our annual open enrollment. We encourage you to review the benefit information carefully and ask that you make prompt decisions regarding your 2019 benefit elections.
DSRA-Benefit Trust Board of Directors
The government sets the annual dollar maximum that can be made to an HSA depending on the level of coverage you have under your health insurance. Coverage of two or more people is considered family coverage. People who are age 55 or older can make additional catch-up contributions.