2022 Employee Benefit Guide This booklet provides only a summary of your benefits. All services described within are subject to the definitions, limitations, and exclusions set forth in each insurance carrier or provider’s contract. Benefits f or 2022 A health savings account (HSA) is a health care account and savings account in one . The main purpose of this account is to offset the cost of a qualifying high deductible health plan (HDHP) and provide savings for your out - of - pocket eligible health care expenses – those you and your tax dependents may have now, in the future, and during your retirement . This is a “portable” account . You own your HSA! It’s included in your employee benefits package, but after you set up your account, it’s yours to keep, even if you change jobs or retire . Once your HSA is established, money is contributed to your account by you, XYZ COMPANY or friends and family, and you can then use your HSA dollars tax - free to pay for eligible health care expenses . You save money on expenses you’re already paying for, like doctors’ office visits, prescription drugs, and much more . Best of all, you decide how and when to use your HSA dollars . W HY I S I T A G O O D I D E A T O HA V E A N HS A ? HSAs benefit everyone who is eligible to have this account – single individuals, families, and soon - to - be retirees . You save money on taxes in three ways : HSA funds roll over from year to year and accumulate in your account . There is no “use - it - or - lose - it” rule with HSAs, and you decide how and when to use your HSA funds, which can be used for eligible expenses you have now, in the future, or during retirement . And when you have a certain balance in your HSA, investment opportunities are available . Refer to your HSA documentation for more information. F O R 2 0 2 2 XY Z C O M P A NY IS O F F E R I NG A HE A L T H S A V I NG S A C C O U NT ( HS A ) . T HI S I S HO W A N HS A W O R K S : › Setting aside pre - tax dollars into your HSA means you pay fewer taxes and increase your take - home pay by your tax savings . You save money on eligible expenses that you are paying for out of your pocket . The amount you save depends on your tax bracket . For example, if you are in the 30 percent tax bracket, you can save $ 30 on every $ 100 spent on eligible health care expenses . › Tax - free deposits – The money you contribute to your HSA isn’t taxed (up to the IRS annual limit) › Tax - free earnings – Your interest and any investment earnings grow tax - free. › Tax - free withdrawals – The money used toward eligible health care expenses isn’t taxed – now or in the future. Health Savings Account ( HSA ) 13