CDHP with HSA
Where can I get more information on HSA regulations?
You can visit the U.S. Treasury website at treas.gov and type “HSA” in the search box.
Are there any administrative fees charged to my HSA?
Like other bank accounts, your HSA is subject to banking fees. PayPal covers the monthly service charge as long as you’re an active plan participant, but you’re responsible for paying any additional fees for services like accessing cash at ATMs or overdrafts, should you no longer be an active participant in the plan.
Is there a time restriction on when I may use the funds in the account?
No. Once funds have been contributed into the HSA, they may be used at any time in the future for qualified medical expenses.
Are there any special instructions for filing my taxes?
Yes. You will receive a 1099 form and a 5498 form in the mail near tax time, so you can file your taxes. You will have to complete an 8889 form when you file your taxes. In addition, you need to keep track of your receipts for anything you pay for from your account in the event you need to provide documentation to the IRS to show you used any HSA funds on qualified medical expenses.
Consult a tax advisor to ensure you file your taxes correctly.
Employee health care contributions (grades 15–19)
Why is PayPal offering reduced medical plan contributions to employees in grades 15–19?
What you pay for health care can greatly impact take-home pay. To support the financial wellness of employees in grades 15–19, employees in these grades will pay less out-of-pocket for their medical plans.
Where can I find the 2021 and 2022 medical, dental, and vision paycheck deductions?
To see what your paycheck deductions will be next year, view the Contributions page.
How will I know if I am eligible for reduced medical plan contributions?
I’m not sure of my grade; how can I find out?
You can find your grade on the Bridge. Go to the HR Hub for Me > Workday Inbox. Click your profile picture, and select View Profile.
How long will I be eligible for reduced medical plan contributions?
If you remain in a grade from 15 through 19, you are eligible.
What if my hours change to part time?
If you work 20 hours or more per week, you will continue to be eligible for benefits. If you are within the 15–19 pay grades, you are also eligible for reduced medical plan contributions.
What happens if I am promoted above a grade 19?
If you are promoted above a grade 19, you will no longer be eligible for reduced medical plan contributions. Your paycheck deductions will increase in the pay period following the date the grade change takes effect. Your new paycheck deductions will be visible in YBR (@Work) | (Log In) and on your pay slip. View the employee contributions for health care.
How will I be notified when my contribution amounts change?
When you are no longer eligible for reduced contributions, you will receive an email notification from YBR, and a Confirmation of Enrollment (COE) will be sent to you via postal mail or electronically, dependent on your communication preference that was set in YBR.
If my medical plan contributions increase, can I change or drop coverage if they are no longer affordable?
Health care coverage is extremely important, so you will want to make your decision based on what is best for you and any covered dependents. If your cost for coverage increases or decreases significantly during the plan year, you may make a corresponding election change. For example, you may elect another benefit plan option with similar coverage or drop/waive coverage. Please review the PayPal Health and Welfare Summary Plan Document for details on qualified cost events.
How do I change my medical plan?
You can only change your benefit elections during the designated Benefits Annual Enrollment period or if you experience a qualified life event (i.e., marriage, birth of a child, or significant cost event). You have 30 days from the life event to notify YBR and change your coverage. Changes can be made online with YBR (@Work) | (Log In) or by calling the Customer Service Center.
Health Reimbursement Account (HRA)
What is a Health Reimbursement Account (HRA)
An HRA is a special account that can be used to pay for medical and prescription coverage, such as office visit copays, claims applicable to your deductible, or prescription copays.
Who is eligible for an HRA?
Employees in grades 15 through 19, who are enrolled in the UnitedHealthcare $300 Deductible medical plan.
Can I contribute to the HRA?
No. Only PayPal can contribute to the HRA. The PayPal contribution is $300 for employee only coverage or $900 if you cover dependents. The contribution will be deposited into your HRA the first pay period of 2021. You will not be taxed on the employer contribution made to your HRA.
How do I use an HRA?
You will be automatically enrolled in the HRA, if you are in grades 15 through 19 and enroll in the UHC $300 Deductible medical plan. The HRA is administered by HealthEquity. After you enroll, HealthEquity will send you a Welcome Kit, which includes a debit card. You can use the debit card at the doctor’s office or pharmacy to pay for your eligible out-of-pocket medical and pharmacy expenses. Or you can pay for these services and submit a claim for reimbursement from your HRA. Eligible claims can be submitted online or via HealthEquity’s mobile app. Review the welcome kit or visit HealthEquity.com for details on how to use your HRA.
When will I receive the HRA debit card?
If you are new to the HRA in 2021, you will automatically receive a new card in the mail in January. If you participated in the HRA in 2020 and elect for 2021, you can use your current debit card. Cards expire after 3 years. If you participated in the HRA in 2020 and discarded or lost your HRA debit card, you can request a new one online or by calling HealthEquity.
How long do I have to submit claims?
For the 2020 plan year, expenses must be incurred between January 1, 2020, and December 31, 2020, while you are in an active employee status. Claims must be submitted before April 30, 2021. For 2021, expenses must be incurred between January 1, 2021, and December 31, 2021, while you are in an active employee status. Claims must be submitted before April 30, 2022.
How long am I eligible for an HRA?
If you remain in grades 15 through 19 and are enrolled in the UHC $300 Deductible plan, you are eligible. Your HRA will be funded at the start of each new plan year. If you are promoted to a grade above 19, you will lose eligibility for the HRA.
What happens if I don’t use the funds in the HRA?
The HRA is a use-it-or-lose-it account. You forfeit any remaining funds in your HRA if you don’t use the available balance by the end of 2021, or if you are promoted above a grade 19 or leave the company prior to December 31, 2021.
Can I have a Flexible Spending Account (FSA) and a Health Reimbursement Account (HRA)?
Yes. The HRA is an employer-funded account in which you are not eligible to make any contributions. You are eligible to contribute to an FSA by making pre-tax payroll contributions. Note that the IRS prohibits duplicate claim submissions in two separate programs.
Why is PayPal providing an employer contribution toward the HRA?
For employees in grades 15 through 19, the HRA contribution can help with meeting plan deductibles or other eligible health care expenses. This reduces your out-of-pocket costs at the point of service.