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© Hitesman & Wold, P.A. 2019 <br />Cafeteria Plan <br />Summary Description (3-11) <br />42 <br />care, dental care, vision care, or long -term care premiums) is suspended, post-deductible medical <br />reimbursement accounts and HRAs, and retirement HRAs. It also includes wellness programs and employee <br />assistance programs that do not provide significant benefits in the nature of non -preventive medical care <br />or treatment. <br />6.4 What is my HSA? <br />Your HSA is a health savings account (as defined under the Internal Revenue Code) established by <br />you with a third-party trustee/custodian (e.g., bank or insurance company) that is authorized to be the <br />trustee of HSAs. Your Employer does not establish or sponsor your HSA. Furthermore, your Employer <br />does not own your HSA; it is owned by you. However, for administrative convenience, your Employer <br />choose the MEDSURETY, LLC and their trustee Wex Health to which it will forward contributions. <br /> <br />You may invest the funds in your HSA as allowed by the trustee/custodian of the account. Your <br />Employer has no control of or responsibility for the investment of your HSA. <br />6.5 What are the limits on the amount of contributions? <br />The maximum contributions you may make through this HSA Contribution Feature shall be <br />determined in accordance with the following rules: <br />(a) Impact of Employer Contributions. The applicable limit on contributions, as <br />determined in accordance with the following rules, shall be reduced by the amount of <br />contributions made by the Employer to your HSA. <br />(b) General Limit. During a taxable year, contributions to the HSA may not exceed the <br />statutory indexed amount applicable under Code § 223. For the plan year, those amounts <br />are set by the IRS if you have self-only coverage under the HDHP or if you have family <br />HDHP coverage. <br />(c) Catch Up Contributions. An additional “catch-up” amount (determined on a monthly <br />basis) can be contributed if you attain age 55 before the close of the taxable year. <br />(d) Pro-rated Limit if Not Eligible on December 1st. If you cease to satisfy the eligibility <br />requirements described above prior to December 1st of any calendar year, your contribution <br />limit for that year shall be determined by multiplying 1/12 of the applicable limit describe <br />in paragraphs (a) and (b) by the number of months for which you satisfied the eligibility <br />requirements described above (as of the first day of the month). <br />Note: Your Employer is not be required to take an corrective action in the event the amount of <br />your HSA contributions made prior to the date on which you cease to satisfy the eligibility <br />requirements described above exceed this pro-rated limit. <br />(e) Special Rule if Eligible on December 1st. If you become eligible to make contributions <br />under this HSA Contribution Feature (as provided above) during the taxable year and you <br />are eligible on December 1st of such year, you are deemed to have been eligible for each <br />month in such taxable year and may make HSA contributions up to the full annual limit. <br />This special rule applies to all contributions made during the applicable taxable year, <br />including contributions made prior to or after December 1st.