How long do I have to use my funds?How do I pay for my health expenses before taxes?Does Capstone Nutrition contribute to these accounts?What is the maximum contribution for these accounts?
Plan Options: Health Savings Account (HSA), Flexible Spending Account (FSA), and Limited Purpose Flexible Spending Account (LPFSA)
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 Capstone Nutrition may be able to contribute to the account.
(844) 729-3539 | healthequity.com
Health Care Account Options
Health Savings Account (HSA)
Who is eligible for this account?
You must be enrolled in a High Deductible Health Plan in order to be considered eligible for this account.
Capstone Nutrition offers the following High Deductible Health Plans:
SelectHealth Select Med HDHP
Capstone Nutrition offers the following High Deductible Health Plans:
SelectHealth Select Med HDHP
What would I use this account for?
Eligible health care expenses, including dental, vision and prescription medication, now.
What is the maximum amount that Capstone Nutrition and I combined can put into this account?
$3,600 Employee-only
$7,200 Family coverage
If you’ll be at least 55 years old in 2021, you can make an additional $1,000 catch-up contribution.
$7,200 Family coverage
If you’ll be at least 55 years old in 2021, you can make an additional $1,000 catch-up contribution.
What does the company contribute?
Capstone Nutrition's contributions are prorated based on your hire date.
Employee-only
Employee + One Dependent
Employee + Family
Employee + One Dependent
Employee + Family
$500 / Year
$1,000 / Year
$1,000 / Year
$1,000 / Year
$1,000 / 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?
Both your and the company's contributions are available each pay period — so the entire contribution amount is not available at the beginning of the year or when coverage starts.
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.
Limited Purpose Flexible Spending Account (LPFSA)
Who is eligible for this account?
You must be enrolled in a High Deductible Health Plan in order to be considered eligible for this account.
Capstone Nutrition offers the following High Deductible Health Plans:
SelectHealth Select Med HDHP.
Capstone Nutrition offers the following High Deductible Health Plans:
SelectHealth Select Med HDHP.
What would I use this account for?
Eligible health care expenses, including dental, vision, and prescription medication.
What is the maximum amount that Capstone Nutrition and I combined can put in this account?
$2,750 is the IRS pretax contribution limit.
What does the company contribute?
Capstone Nutrition does not contribute to this account.
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?
For active employees, you would have up to 90 days following the end of the plan year to submit claims for reimbursement that occurred during the prior year. In addition, you will have a 2 1/2 month grace period to use any remaining unused funds, any unused funds after the grace period will be forfeited.
Flexible Spending Account (FSA)
Who is eligible for this account?
This account cannot be paired with a High Deductible Health Plan.
While you are not required to be enrolled in a medical plan in order to be eligible for this account, the account can only be paired with a Traditional PPO Plan. Capstone Nutrition offers the SelectHealth Select Med Traditional PPO.
While you are not required to be enrolled in a medical plan in order to be eligible for this account, the account can only be paired with a Traditional PPO Plan. Capstone Nutrition offers the SelectHealth Select Med Traditional PPO.
What would I use this account for?
Eligible health care expenses, including dental, vision, and prescription medication.
What is the maximum amount that Capstone Nutrition and I combined can put in this account?
$2,750 is the IRS pretax contribution limit.
What does the company contribute?
Capstone Nutrition does not contribute to this account.
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?
For active employees, you would have up to 90 days following the end of the plan year to submit claims for reimbursement that occurred during the prior year. In addition, you will have a 2 1/2 month grace period to use any remaining unused funds, any unused funds after the grace period will be forfeited.
How to change your Health Savings Account contribution in Ignite (enrollment system):
- Click the “Online Enrollment Login” button and login to Ignite
- Click “Life Events”
- Under “Adjust Coverage”, click “Adjust HSA”
- Enter the desired effective date of change and the HSA amount you want to contribute per pay period. Then click “Save”
- The request will pend for Human Resources to approve
