Our Consumer Choice medical plans come with an HSA that is administered by Optum Bank^®. Use it to cover out-of-pocket healthcare expenses, including your deductible. Your unused balance rolls over each year and accumulates tax-free.

Plexus will contribute $650 for individual coverage or $1,000 for family coverage. Company contributions are made on a per-paycheck basis and will be pro-rated based on your coverage effective date. You are also able to contribute up to limits set by the Internal Revenue Service (IRS). You must elect the HSA plan to receive Plexus contributions, even if you don’t plan to contribute to the HSA yourself. Your contribution amount can be changed at any time during the year.

To be eligible for a Health Savings Account, you must be:

• Covered under one of the Consumer Choice medical plans.
• Not covered under any other health plan.
• Neither you nor your spouse contributing to a medical Flexible Spending Account.
• Not enrolled in or eligible for Medicare, TRICARE^®, or VA benefits.
• Not claimed as a dependent on another person’s tax return.

For complete details, visit https://www.irs.gov/forms-pubs/about-publication-969

For more information on your HSA, visit www.optumbank.com. If you have questions regarding your HSA eligibility, you will need to consult with a tax advisor.

Talk to an advisor from Francis Investment Counsel at no cost to you to see how an HSA can fit into your financial plan for the future. Visit francisway.com/services/participant-portal/plexus/ for details.

If you enroll in the CMP medical plan or waive medical coverage, you can save pre-tax dollars in a health care FSA through payroll deductions to help cover medical, dental and vision expenses not covered by your health plan. Unlike an HSA, any money left in your FSA at the end of the year will not carry over into the next year. You must enroll in an FSA during Open Enrollment or as a new hire or you lose the opportunity to participate for the rest of the plan year (unless you have a qualifying life event that allows you to change your coverage). Under the health care FSA, your entire annual election amount is pre-funded, meaning it's available at the beginning of each year to reimburse your eligible expenses for that year. 

• You must incur your expenses between January and December of the plan year. There is no grace period or carryover.
• You will receive an FSA debit card to conveniently pay for copays, pharmacy and other eligible expenses where accepted.
• If enrolled in medical, you can sign up at myuhc.com to automatically submit your medical out-of-pocket claims directly to your health care FSA for reimbursement. Other expenses may be submitted to UnitedHealthcare for reimbursement.

For a complete list of eligible expenses, visit https://www.irs.gov/forms-pubs/about-publication-502

For more information on FSAs, visit https://www.whyuhc.com/plexus/fsa-plans.