HealthEquity, Inc. · NASDAQ:HQY
HealthEquity — HealthEquity Train-the-Trainer
42 slides from HealthEquity's investor presentation, 2013
Slide 1: HealthEquity Train-the-Trainer: HSA Rules and Regulations
HealthEquity Train-the-Trainer HSA Rules and Regulations Presenter Copyright © 2013 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written cons
Slide 2: Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are
Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 2
Slide 3: Two Parts: Health Plan + Savings Account
Two Parts: Health Plan + Savings Account • HSA-qualified plan through insurance • HSA through HealthEquity • Preventative services covered at 100% • Tax-free savings for medical • Office Visit, Rx, Deductible, Copays, and expenses Coinsurance ALL count towards Out of • Works in conjunction with the
Slide 4: HSA Qualified Health Plan
HSA Qualified Health Plan HSA-qualified 2016: Health Plan Minimum Deductible Single: $1,300 Family: $2,600 Maximum Deductible / OOP Single: $6,550 Family: $13,100 Note: Limits on deductibles and out-of-pocket expenses apply only to “in-network” providers Copyright © 2011 HealthEquity, Inc. All right
Slide 5: HSA qualified plans
HSA qualified plans No copays Lower premiums Preventive care covered 100% Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express writt
Slide 6: Why choose an HSA?
Why choose an HSA? Easy win in today’s complex health care system: – Save now: • Lower monthly insurance premiums • HSA deposits aren’t taxed • Typically lowers income tax liability – Save for the future: • The average retired couple will need $220,000 to cover medical expenses not covered by Medica
Slide 7: NOT use it or lose it
NOT use it or lose it Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 7
Slide 8: Funds roll over every year
Funds roll over every year Accounts grow over time as unused funds roll over from year to year and earn tax-free interest and/or investment income. Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEqu
Slide 9: Employee owns account permanently
Employee owns account permanently Even if employees leave the company, change health plans or retire, HSA funds remain theirs Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential
Slide 10: Triple tax benefit
Triple tax benefit 1. Contributions are tax deductible 2. Earnings/Growth are tax free 3. Withdrawals for qualified medical expenses are tax free Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquit
Slide 11: Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are
Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 11
Slide 12: Eligible individuals
Eligible individuals Being eligible means that a person is able to make contributions to a health savings account. Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and propri
Slide 13: 1: Cannot be claimed as a dependent
1: Cannot be claimed as a dependent Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 13
Slide 14: 2: Must have an HSA-qualified health plan
2: Must have an HSA-qualified health plan Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 14
Slide 15: 3: Must not have other coverage
3: Must not have other coverage • Medicare • Medicaid • Full purpose FSA (including through a spouse) • Other Insurance Coverage Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confident
Slide 16: Permitted insurance coverage
Permitted insurance coverage Certain types of coverage will not jeopardize eligibility: •Accident •Dental •Vision •Specified Disease Coverage •Hospital indemnity if it pays a fixed cost per day, per admission, or other period •Long Term Care •Disability •Wellness programs offered by an employer, if
Slide 17: Eligible for Entire Calendar Year
Eligible for Entire Calendar Year If an individual is eligible for the entire calendar year, January – December, then he or she may contribute the full contribution maximum depending on his or her age and coverage type. Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the He
Slide 18: Maximize your savings
Maximize your savings Maximize your HSA contributions in 2016: • Single-coverage: $3,350 (2015: $3,350) Save up to $1005 in Taxes!* • Family-coverage: $6,750 (2015: $6,650) Save up to $2025 in Taxes!* • Catch-up contribution, age 55+: $1,000 Copyright © 2011 HealthEquity, Inc. All rights reserved. H
Slide 19: How to contribute to your HSA
How to contribute to your HSA • Make pre-tax contributions through payroll deductions • Change your payroll contributions at any time • Make post-tax contributions directly to HealthEquity online or by sending a check • Fully fund your HSA on day one • Make contributions anytime after your HSA is op
Slide 20: Contribution Planning
Contribution Planning HSA contributions require a bit of planning •Participants should do their best to plan their payroll contributions according to their medical spending needs and history. •Best case scenario is to contribute the annual maximum each year. – Single coverage – 2016: $3,350 – Family
Slide 21: Anyone Can Contribute
Anyone Can Contribute • Individual Account Holders • Employers • Family Members • For example, parents may want to help their children that have recently graduated from college and are now on their own to fund their HSA accounts, assuming they are no longer being claimed as dependents on a parent’s
Slide 22: IRA Rollover Rules
IRA Rollover Rules • IRA penalties and income tax penalty for early withdrawal waived • Maximum rollover equals the annual contribution limit for an HSA including catch-up contributions. • Applies toward the calendar-year maximum contribution amount • Amount that can be contributed depends on covera
Slide 23: Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are
Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 23
Slide 24: Qualified medical expenses
Qualified medical expenses Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 24
Slide 25: OTC drugs no Longer eligible
OTC drugs no Longer eligible As of January 1, 2011, over-the counter medications and medical supplies are no longer a qualified HSA expense unless you have a prescription. Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and se
Slide 26: Adult children – age 26 rule
Adult children – age 26 rule • Children who will not have reached age 26 by the end of the calendar year can be covered on their parents’ health plan even if: • Not a full-time student • Not living at home • Not a tax dependent • Married • If the child is not a tax dependent, the parents cannot use
Slide 27: Domestic partners
Domestic partners • Domestic partners may be covered by one HSA-qualified family policy, but they would not be eligible for reimbursement out of each other’s accounts unless they meet the IRS definition of a “qualifying relative”. • In most cases, it is preferable for domestic partners to have separ
Slide 28: Taxes + 20% penalty
Taxes + 20% penalty HSA funds spent on ineligible expenses must be reported as income and are subject to a 20% penalty (unless the account holder is 65 or older). Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service mar
Slide 29: Account Holders Keep Track of Expenses
Account Holders Keep Track of Expenses • Not the employer’s responsibility • Not the HSA administrator’s responsibility • Keep organized – Documentation library – Integrated claims Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademar
Slide 30: Substantiation not required
Substantiation not required • Substantiation of claims is required with an FSA or HRA – the employer is responsible for ensuring all dollars reimbursed are for eligible expenses. • With an HSA, the account holder is responsible for keeping track of expenses. • No receipts to IRS unless audited Copyr
Slide 31: Form W-2: wage & tax statement
Form W-2: wage & tax statement Combined in box 12, code W: •Employer contributions + •Employee contributions through cafeteria (125) plan Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc.
Slide 32: Form 1099-SA: HSA distributions
Form 1099-SA: HSA distributions • Sent by HSA administrator in late January / early February • Shows total distributions from Health Savings Account • Must be filed with your taxes Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademar
Slide 33: Form 5498-SA: HSA contributions
Form 5498-SA: HSA contributions • Sent by HSA administrator in May • Shows total contributions to HSA between January 1 and tax filing deadline (usually April 15th) Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service m
Slide 34: No need to itemize
No need to itemize • HSA contributions reduce a person’s taxable income – itemizing deductions is not required • Contributions are also deductible from state income taxes (if a state has an income tax) in all states except Alabama, California, and New Jersey Copyright © 2011 HealthEquity, Inc. All r
Slide 35: Form 8889: Health Savings Accounts
Form 8889: Health Savings Accounts HSA account holders are responsible for filing form 8889 each year. The purpose of this form is to determine how much of their HSA contributions are eligible to be deducted from their gross income on their income taxes and to determine if any taxes or penalties are
Slide 36: How to use your HSA
How to use your HSA Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEquity logo are registered trademarks and service marks of HealthEquity, Inc. Confidential and proprietary. Reproduction without express written consent is prohibited. 36
Slide 37: Convenient Access
Convenient Access • Convenient access – Debit card – Online – Using our free mobile app – By telephone • Use your HealthEquity account to – Check your balance – Review transactions – Review claims – Submit new claims or documents – Send payments and reimbursements – Access tax documents Copyright ©
Slide 38: Options for Paying your Medical Expenses
Options for Paying your Medical Expenses HSAs give participants the choice to pay using any method they like! •Use the HealthEquity HSA Debit Card – funds will come directly out of your HSA balance •Use the HealthEquity member portal to pay the provider directly from HSA – visit the claims listing •
Slide 39: HSA How To: Doctors' Visits
HSA How To: Doctors’ Visits 1 Go to the doctor No co-pays Doctor sends insurance Insurance carrier adjusts price 2 carrier the bill based on discounts Pay doctor from HSA funds, if funds 3 Optional: Enter claim are available. Pay out of pocket if in member portal funds aren’t available and reimburse
Slide 40: HSA How To: Pharmacy Prescriptions
HSA How To: Pharmacy Prescriptions 1 Go to pharmacy Show your Health Plan ID card Pharmacy Pay with your 2 applies discount HSA card Pharmacy sends claim to Insurance carrier applies 3 insurance carrier amount to your deductible— no paperwork needed Copyright © 2011 HealthEquity, Inc. All rights res
Slide 41: HealthEquity mobile app
HealthEquity mobile app Convenient, powerful tools: • On-the-go access for all account types • Take a photo of documentation with phone and link to claims and payments • Send payments and reimbursements from HSA • Manage debit card transactions • View claims status Available FREE for iOS and Android
Slide 42: Trusted Advisors
Trusted Advisors Always available Our member services are taking calls 24 hours a day, every day of the year Call today Let us conduct a personal assessment of your plan options 866.346.5800 www.healthequity.com Copyright © 2011 HealthEquity, Inc. All rights reserved. HealthEquity and the HealthEqui