How long do I have to use my funds?How do I pay for my health expenses before taxes?Does Traeger contribute to these accounts?What is the maximum contribution for these accounts?
Plan Options: Health Savings Account (HSA) through Optum Bank, Flexible Spending Account (FSA) through BBP Admin, and Limited Purpose Flexible Spending Account (LPFSA) through BBP Admin
Health care accounts can be used to help offset your out-of-pocket health care expenses, including co-pays, prescriptions, glasses, and lab work. Depending on the type of health care account that is paired with your medical plan, you and Traeger may be able to contribute to the account.
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Health Care Account Options |
Health Savings Account
Which plans is this account available for?
Regence BlueCross BlueShield High Deductible Health Plan
Do I need to be enrolled in a medical plan?
Yes
What would I use this account for?
To save for future health care expenses, but also to pay for eligible health care expenses, including dental, vision and prescription medication, now.
What is the maximum amount that Traeger and I combined can put into this account?
$4,150 Employee-only
$8,300 Family coverage
If you’ll be at least 55 years old in 2024, you can make an additional $1,000 catch-up contribution.
$8,300 Family coverage
If you’ll be at least 55 years old in 2024, you can make an additional $1,000 catch-up contribution.
What does the company contribute?
Employee Only
Employee + Spouse
Employee + Child(ren)
Employee + Family
Employee + Spouse
Employee + Child(ren)
Employee + Family
$800 / Year
$1,600 / Year
$1,600 / Year
$1,600 / Year
$1,600 / Year
$1,600 / Year
$1,600 / Year
Are there investment options?
Yes, if you have more than $2,000 in your HSA, you can invest it, and any growth is generally tax free.
When are the funds available?
Your contribution amount is available as it comes out of your paycheck each pay period — so your entire contribution amount is not available at the beginning of the year or when coverage starts.
Traeger's contributions are also available each paycheck.
Traeger's contributions are also available each paycheck.
What happens if I don’t use the money during the year?
All unused funds will roll over to the next year.
You can take HSA funds with you when you leave the company or retire.
You can take HSA funds with you when you leave the company or retire.
Flexible Spending Account
Which plans is this account available for?
Regence BlueCross BlueShield Traditional Copay Plan
Do I need to be enrolled in a medical plan?
No
What would I use this account for?
Eligible health care expenses, including dental, vision, and prescription medication.
What is the maximum amount that Traeger and I combined can put into this account?
$3,200 is the IRS pretax contribution limit.
What does the company contribute?
Traeger does not contribute to this account.
Are there investment options?
No.
When are the funds available?
Your entire contribution amount is available at the beginning of the year.
What happens if I don’t use the money during the year?
You have until March 15, 2025 to incur eligible expenses. Per IRS regulations, you forfeit any money in your account after March 31, 2025.
Any unused funds upon termination will be forfeited unless the employee enrolls in COBRA.
Any unused funds upon termination will be forfeited unless the employee enrolls in COBRA.
Limited Purpose Flexible Spending Account
Which plans is this account available for?
You must be enrolled in a High Deductible Health Plan in order to be considered eligible for this account.
Traeger offers a High Deductible Health Plan (HDHP) through Regence BlueCross BlueShield
Traeger offers a High Deductible Health Plan (HDHP) through Regence BlueCross BlueShield
Do I need to be enrolled in a medical plan?
Yes.
What would I use this account for?
This health care account has to be paired with an HSA and you can only use it for eligible vision and dental expenses.
What is the maximum amount that Traeger and I combined can put into this account?
$3,200 is the IRS pretax contribution limit.
What does the company contribute?
Traeger does not contribute to this account.
Are there investment options?
No.
When are the funds available?
Your entire contribution amount is available at the beginning of the year.
What happens if I don’t use the money during the year?
You have until March 15, 2025 to incur eligible expenses. Per IRS regulations, you forfeit any money in your account after March 31, 2025.
Any unused funds upon termination will be forfeited unless the employee enrolls in COBRA.
Any unused funds upon termination will be forfeited unless the employee enrolls in COBRA.
This information is designed to help you choose a benefit plan for 2024 only. Please refer to the Plan Documents provided by the carrier for information regarding coverage, limitations, and exclusions. If there is a difference between this guide and the Plan Documents, the Plan Documents prevail.
