How the Health Accounts Compare

BNY Mellon Benefits Guide


	HEALTH SAVINGS ACCOUNT	HEALTH REIMBURSEMENT ACCOUNT	LIMITED PURPOSE HEALTH REIMBURSEMENT ACCOUNT*	HEALTH CARE FLEXIBLE SPENDING ACCOUNT (FSA)	LIMITED PURPOSE FLEXIBLE SPENDING ACCOUNT
Who owns it?	Employee	BNY Mellon	BNY Mellon	BNY Mellon	BNY Mellon
Who contributes to the account?	BNY Mellon and employee	BNY Mellon	BNY Mellon	Employee	Employee
Can unused amounts carry or roll over?	Yes	Yes	Yes	Yes, up to $500	Yes, up to $500
Is interest earned?	Yes, interest-bearing checking account; once balance reaches $1,000,the amount over $1,000 may be invested	No	No	No	No
Is the account subject to COBRA continuation?	No	Yes	Yes	Yes	Yes
How are contributions made?	Through BNY Mellon and employee contributions	Through BNY Mellon contributions	Through BNY Mellon contributions while covered by Plan HRA	Employee contributions	Employee contributions
Is there a contribution limit?	Yes. The 2018 limits are $3,450 for individual coverage and $6,900 for dependent coverage, as established by the IRS.	BNY Mellon contributions based on base pay while covered under Plan HRA	BNY Mellon contributions based on base pay while covered under Plan HRA	Yes. The 2017 limit is $2,600 for Health Care FSA as established by the IRS.	Yes. The 2017 limit is $2,600, as established by the IRS.
Is there a "catch-up" contribution provision for older workers?	Yes. Employees age 55 or older may contribute an additional $1,000 per year.	No	No	No	No
What are the tax benefits for employees?	BNY Mellon and employee contributions are tax-free. Withdrawals/reimbursements for qualified health care expenses are tax-free.	BNY Mellon contributions are tax-free. Reimbursements for qualified health care expenses are tax-free.	BNY Mellon contributions are tax-free. Reimbursements for qualified health care expenses are tax-free.	Employee contributions are tax-free, which reduces annual taxable income. Reimbursements for qualified health care expenses are tax-free.	Employee contributions are tax-free, which reduces annual taxable income. Reimbursements for qualified health care expenses are tax-free.
What health care expenses can be paid from the account?	Any qualified health care expense as defined under Section 213(d) of the federal tax code, except for health insurance premiums, with specific exceptions.	Any qualified medical expense as defined under Section 213(d) of the federal tax code, including health insurance and long-term care insurance premiums. Long-term care services and premiums under employer pre-tax plans are tax deductible, but not reimbursable.	Any eligible dental and vision expenses. In addition, qualified medical expenses as defined under Section 213(d) of the federal tax code once HRA deductible has been satisfied.	Any qualified medical expense as defined under Section 213(d) of the federal tax code, except for health insurance premiums. Long-term care services are tax deductible, but not reimbursable.	Any eligible dental and vision expenses. In addition, qualified medical expenses as defined under Section 213(d) of the federal tax code once HSA deductible has been satisfied.
Can amounts in account be used for non-health care expenses for those over age 65?	Yes. Non-health care distributions must be included in gross income, but are not subject to the additional 20% tax penalty.	No	No	No	No
Can COBRA premiums be reimbursed from the account?	Yes. Distributions to pay premiums reimbursed for COBRA are tax-free.	Yes. COBRA premiums may be reimbursed from the account.	Yes. COBRA premiums may be reimbursed from the account.	No	No
Must a qualified health care expense occur during the plan year the contribution is made?	No. You cannot use HSA contributions to pay for expenses incurred prior to establishing the HSA; however, you can use contributions to pay for eligible expenses incurred after establishing the HSA even if you are no longer covered under an HSA.	No. You cannot use HRA contributions to pay for expenses incurred prior to establishing the HRA; however, you can use contributions to pay for eligible expenses incurred after establishing the HRA even if you are no longer covered under the HRA.	No. You cannot use Limited Purpose HRA contributions to pay for expenses incurred prior to establishing the HRA; however, you can use contributions to pay for eligible expenses incurred after establishing the HRA even if you are no longer covered under the HRA.	In general, yes; however, you may carryover up to $500 to the following plan year.	In general, yes; however, you may carryover up to $500 to the following plan year.
Is use of a debit card allowed?	Yes	Yes	No	Yes	No
Are other accounts available at the same time?	Only with a Limited Purpose FSA	Only with a traditional FSA	Only with an HSA and Limited Purpose FSA	Only with an HRA	Only with an HSA

* If you select Plan HRA and decide the following year to change to Plan HSA, your Health Reimbursement Account will become a Limited Purpose Health Reimbursement Account.

New Health Plan ID Card

You will receive a new Aetna or UnitedHealthcare medical ID card when you first enroll and when you change plan options or carriers. Show this card to get discounts from providers, including doctors and hospitals. (Note: If you currently participate in Plan HSA and enroll in Plan HSA with the same insurance carrier for 2018, you will not receive a new medical ID card.)