Page 19 - Willscot I Mobile Mini Open Enrollment Guide

Spending and Savings Accounts
Health Savings Account (HSA)
With the $1,500 Deductible Plan and $3,000 Deductible Plan, you’re eligible to contribute money to a Health Savings Account. HSAs are tax-advantaged savings accounts you can use to help pay for eligible healthcare expenses as your contributions are accrued.
Key Features:
Receive a contribution from WillScot Mobile Mini just for opening an HSA account, even if you aren’t planning to contribute (see HSA Contributions section below for details).
Works like a bank account. You decide how much to contribute to your HSA (up to the IRS maximum) and can change that amount at any time. Access account funds to pay for eligible healthcare expenses by using your debit card when you receive care, or submit a claim for reimbursement for payments you’ve made (up to the available balance in your account).
It’s tax-advantaged. You don’t pay taxes on contributions made from your paycheck, and you can earn tax-free interest on your HSA balance.
It’s your money. Unused funds can be carried over each year. Once your account reaches a certain balance you will be able to choose how your money is invested. You can even take the account with you if you leave WillScot Mobile Mini, or save it to use during retirement.
Can be paired with a Combination Flexible Spending Account for additional tax savings. Eligible dental and vision expenses can be paid for with Combination FSA funds from the first day of the plan year. Once you have incurred $1,400/individual or $2,800/family in out-of-pocket medical expenses (or the indexed amounts announced by the IRS for the plan year, if different) and submit the required form, you can also use your account to pay for eligible medical expenses for the rest of the year.
Please note, you are not eligible to contribute to an HSA if you:
• Are enrolled in Medicare or TRICARE
• Are covered by any health insurance other than a qualified high deductible health plan
• Can be claimed as a dependent on another person’s tax return
• Have access to reimbursement under a Healthcare Flexible Spending Account established by another employer for you or another family member (including grace period from a prior plan year)
HSA Contributions
To help you get your HSA started, WillScot Mobile Mini will contribute:
$1,500 Deductible Plan: • Individual: $650/year • Individual + Spouse: $1,300/year
• Individual + Children: $1,300/year • Family: $1,500/year
$3,000 Deductible Plan: • Individual: $1,050/year • Individual + Spouse: $2,150/year
• Individual + Children: $2,150/year • Family: $2,400/year
For 2022, 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:
• Individual coverage: $3,650* • Family coverage: $7,300*
• If you’re age 55 or older, you can contribute an additional $1,000 per year.
*The contribution amounts listed above include both your contributions and any contributions you receive from WillScot Mobile Mini.
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