Teammates

With the LiveWELL Health Plans, teammates have the opportunity to save pretax funds in savings and spending accounts per eligibility requirements.

Atrium Health savings accounts are administered by Bank of America.

 

 

Options Available with the Health Savings Plan

Health Savings Account (HSA): The HSA is yours to save for current and future healthcare-related expenses, such as your deductible, coinsurance, and prescription medications. Your HSA is an important component of retirement savings. Teammates can make direct contributions to this account from their paycheck and one-time contributions. For participants of the Health Savings Plan, LiveWELL Incentives will be deposited into the HSA.

  

Eligibility

  • Teammates may contribute to an HSA pretax until they enroll in Medicare. For help in understanding how Medicare and your healthcare costs fit into your retirement goals, call N.C. Seniors’ Health Insurance Information Program (SHIIP) at 855-408-1212 (or a similar program if you live in another state)
  • To participate in an HSA, you must be enrolled in a consumer-directed health plan – not covered by other health insurance, such as Medicare or TRICARE – and you cannot be claimed as a dependent on someone else’s tax return
  • The maximum IRS contribution for the year includes the sum of all teammate and employer contributions, including incentives. Teammates age 55 or older are allowed an additional “catch-up” contribution $1,000

Limited Purpose Flexible Spending Account (LFSA): Allows teammates to set aside additional pretax dollars to help pay for planned qualified dental and vision expenses that occur during a 12-month period. This account is use it or lose it.

Medicare and Your Health Savings Account

LiveWELL Health Plan participants should contact Medicare 6-12 months prior to turning age 65 to learn about options for healthcare coverage and rules for contributing to a Health Savings Account when Medicare eligible.

Questions about Medicare

For help in understanding how Medicare and your healthcare costs may fit into your overall retirement goals, call the Seniors’ Health Insurance Information Program (SHIIP) at 855-408-1212. Teammates can also call the Social Security Administration at 888-383-1598.

Seniors’ Health Insurance Program (SHIIP) Details

  • SHIIP is available to anyone for FREE
  • SHIIP has representatives in every NC county
  • Teammates may make appointments for 1:1 phone calls or in-person meetings with a specialist
  • Teammates may contact a representative Monday – Friday, 8 a.m. – 5 p.m., by calling the SHIIP consumer information line at 855-408-1212 or via email
  • SHIIP can answer detailed questions about Medicare that Social Security Offices may not be able to answer

 

Options Available with the Co-Pay Plan

Flexible Spending Account (FSA): Allows teammates to set aside pretax dollars to help pay for planned qualified medical, dental and vision expenses that occur during a 12-month period. This account is use it or lose it.

LiveWELL Incentive Account: For teammates that are enrolled in the Co-Pay Plan, Atrium Health will deposit earned LiveWELL Incentives into this account during the year. Funds can be used to help pay for qualified medical, dental and vision expenses. Unused funds rollover from year to year.

Using Your Health Savings Account (HSA), Flexible Spending Account (FSA), LiveWELL Incentive Account and Limited Purpose Flexible Spending Account (LPFSA)

Atrium Health partners with Bank of America to administer the Health Savings Account (HSA), Flexible Spending Account (FSA), LiveWELL Incentive Account and Limited Purpose Flexible Spending Account (LPFSA), making it easy to access your account information in one place.  If you select the Co-Pay Plan or are enrolling in either health plan for the first time you will receive a new card for 2020.

If you enroll in the Co-Pay Plan and currently have a Health Savings account (HSA) you will have one card for all accounts. The funds will be accessed in the following order: Flexible Spending Account (FSA), LiveWELL Incentive Account then Health Savings Account (HSA).

2019 Flexible Spending Accounts (FSA) will be closed at 12:01 a.m., December 31, 2019 for teammates who enroll in either of the 2020 LiveWELL Health Plans.

The following provisions are included in the amended FSA plan:

  • Between January 1 and April 30, 2020, you can submit manual FSA claims for expenses incurred in 2019.
  • If you are enrolled in the Health Savings Plan for 2020 and were enrolled in a Limited Purpose FSA in 2019, at the beginning of May 2020, any balance remaining up to $500 will be rolled into a Limited Purpose FSA for dental and vision-related expenses
  • If you are enrolled in the Co-Pay Plan for 2020 at the beginning of May 2020, any balance remaining from a 2019 Limited Purpose FSA up to $500 will be rolled in an FSA for medical, dental and vision-related expenses

These funds will be accessible on your new Bank of America card.

In addition to the Savings and Spending Accounts associated with the LiveWELL Health Plans, eligible teammates have the opportunity to participate in a Dependent Care Flexible Spending Account (DCFSA). 

 

Dependent Care Flexible Spending Account (DCFSA)

You can use the DCFSA to pay for any eligible, work-related dependent daycare expenses you incur – such as licensed daycare centers for your dependent children or adults, summer day camps, nursery schools or after-school care. Unlike the HCFSA, your funds must be in your DCFSA before they can be reimbursed. Eligible dependents include: 

  • Children under age 13
  • Disabled dependents of any age who live with you more than eight hours per day, whom you claim on your tax return and who are enrolled in an eligible daycare program 

Important Information About DCFSA IRS Limit

You can contribute up to $5,000 ($2,500 if married, filing separately) to your DCFSA. This limit may change if: 

  • You are considered a “highly compensated” teammate, the limit is subject to reductions based on IRS discrimination testing results
  • Both you and your spouse contribute to a DCFSA (only $5,000 combined is allowed) based on IRS guidelines 
  • The $5,000 limit includes DCFSA and Dependent Care Back-up 
  • Both the DCFSA and the federal tax credit for child and dependent care offer you tax savings on dependent care expenses. It is important to determine which is right for you and which will provide the greatest tax benefit in 2020. Consult a qualified tax advisor to make your choice.

 

Healthcare Flexible Spending Account (HCFSA)

If you or your eligible dependents are not covered under the LiveWELL Health Plan or any other high-deductible plan, you are eligible to make contributions to the HCFSA.

  • Use the dollars in your HCFSA to pay for eligible expenses for yourself or anyone you claim as a dependent on your income tax return
  • Eligible expenses are medical, prescriptions, dental and vision charges not fully covered by other benefits or insurance
  • Your annual election is deducted from each paycheck in equal amounts
  • Expenses must be incurred on or after your effective date of coverage during the plan year
  • You decide how much you want to contribute to your HCFSA – up to the maximum contribution