BNY Mellon Benefits Guide
Health Savings Account Contributions
HEALTH SAVINGS ACCOUNT 2019 CONTRIBUTION LIMITS
BASE PAY AND COVERAGE LEVEL
IRS COMBINED MAXIMUM ANNUAL CONTRIBUTION
BNY MELLON'S ANNUAL CONTRIBUTION (AUTOMATIC)1
YOUR MAXIMUM ANNUAL CONTRIBUTION (VOLUNTARY)2
Under $30,000
Employee Only
$3,500
$700
$2,800
Employee + Spouse/Qualified Domestic Partner,
Employee + Child(ren) or
Employee + Family
$7,000
$1,400
$5,600
$30,000 - $39,999
Employee Only
$3,500
$600
$2,900
Employee + Spouse/Qualified Domestic Partner,
Employee + Child(ren) or
Employee + Family
$7,000
$1,200
$5,800
$40,000 - $49,999
Employee Only
$3,500
$500
$3,000
Employee + Spouse/Qualified Domestic Partner,
Employee + Child(ren) or
Employee + Family
$7,000
$1,000
$6,000
$50,000 - $79,999
Employee Only
$3,500
$400
$3,100
Employee + Spouse/Qualified Domestic Partner,
Employee + Child(ren) or
Employee + Family
$7,000
$800
$6,200
$80,000 and above
Employee Only
$3,500
$200
$3,300
Employee + Spouse/Qualified Domestic Partner,
Employee + Child(ren) or
Employee + Family
$7,000
$400
$6,600
1 If you join BNY Mellon after the beginning of the 2019 plan year, BNY Mellon's Health Savings Account contribution will be pro-rated.
2 It is your responsibility to monitor your contributions during the year to ensure you do not exceed the IRS maximum allowable contribution. Your maximum contribution should be further reduced by any Health Savings Account deposits earned by completing wellbeing activities by December 31, 2019. You can earn up to $600 in Wellbeing Rewards contributions, or $1,200 if you also cover your eligible spouse/qualified domestic partner. Beginning in the year you attain age 55, you may make additional catch-up contributions of up to $1,000 annually. If you exceed the limit, you may be subject to additional taxes and penalties.
Proration of BNY Mellon Health Savings Account Contribution
If you join BNY Mellon after the beginning of the 2019 plan year, BNY Mellon's contribution to your Health Savings Account will be prorated. To determine your prorated BNY Mellon contribution, find the proration factor corresponding to your month of benefit eligibility. Then find the BNY Mellon annual account contribution corresponding to your base pay and coverage level and multiply the contribution by the proration factor.
PRORATION OF BNY MELLON CONTRIBUTIONS TO HEALTH SAVINGS ACCOUNTS IN 2019
HIRE/BENEFIT ELIGIBILITY MONTH
NUMBER OF MONTHS COUNTED TOWARD CONTRIBUTION AMOUNT
PRORATION FACTOR
November/December 2018
12
1.00
January 2019
11
0.92
February
10
0.83
March
9
0.75
April
8
0.67
May
7
0.58
June
6
0.50
July
5
0.42
August
4
0.33
September
3
0.25
October
2
0.17
November
1
0.08
December
0
0.00