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https://aptia365.com/atlanticunionbank 15 Copyright 2024 Aptia Insurance Services Group, LLC. All rights reserved.Health Savings Account (HSA)With the HSA Enhanced ($2,000/$4,000) and HSA Basic ($4,000/$8,000 ) plans, you may qualify to contribute money to an Health Savings Account, up to the IRS maximum. HSAs are tax-advantaged savings accounts you can use to help pay for eligible healthcare expenses your accrued contributions.%u2022Open and contribute with pre-tax payroll deductions to an HSA%u2022To receive the company contribution to your HSA, you must enroll in the 2025 HSA %u2022Even if you have an HSA in 2024, re-elect to save in 2025%u2022Works like a bank account. Decide how much to contribute to your HSA before taxes (up to the IRS max) and change that amount at any time%u2022Pay no taxes on qualified expenses%u2022Use your available HSA funds to pay for eligible medical, prescription and approved over-thecounter drugs, dental and vision expenses for yourself and your eligible dependents%u2022It%u2019s your money! Unused funds can be carried over each year tax-free%u2022Plus, you may take the account with you if you leave Atlantic Union Bank, or save it to use during retirementStart It Grow It Use It Keep ItImportant considerations:%u2022 Pair it with a Combination Flexible Spending Account for additional tax savings. For more information see page 14. %u2022 Withdrawals for qualified expenses are tax-free. For a complete list of eligible expenses, see Publication 502 at www.irs.gov. Keep documentation to support your use of HSA money for tax purposes.%u2022 You do not qualify for an HSA if you:%u00b7 Are enrolled in Medicare or TRICARE%u00b7 Are covered by any health insurance other than a qualified high deductible health plan%u00b7 Can be claimed as a dependent on another person%u2019s tax return%u00b7 Will have access to funds in a Healthcare FSA established for you or a family member, including under a grace period from the prior plan year.HSA ContributionsTo help with the funding of your HSA, Atlantic Union Bank will match your contributions:%u2022 Individual coverage: $500/year %u2022 Family coverage: $1,000/yearFor 2025, you can make pre-tax contributions from your paycheck up to the following amounts, or to the maximum indexed amount announced by the IRS for the plan year, if different:%u2022 Individual coverage: $4,300 %u2022 Family coverage: $8,550%u2022 If you%u2019re age 55 or older, you can contribute an additional $1,000 per year.The amounts listed above include both Atlantic Union Bank and your contributions, which cannot exceed the maximum allowable amount defined by the IRS.Health Savings Account