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HSA employer contributionsAny employer contributions to a UMB HSA of an eligible worksite employee (EE) electing a UMB HSA will be the same contribution formula for all worksite employees within a given benefit class, based on IRS rules. Additionally, all benefit classes that include non-highly compensated employees (HCEs) must provide employer contributions at a level equal to or greater than the highest HCE-class employer contribution. If you elect to make employer contributions, your contributions can’t exceed the IRS maximum HSA contribution limits.

For the 2016 Calendar Year, the IRS maximum HSA contribution limit is $3,350 for Employee Only coverage or $6,750 for Family coverage (which includes worksite employees electing EE + Spouse, EE + Child(ren) or EE + Family coverage). Worksite employees age 55 and over by the end of the Calendar Year can contribute an additional $1,000 per year.

Your HSA contributions will reduce the amount that a worksite employee is permitted to contribute to his or her UMB HSA. Total employer plus employee contributions can’t exceed the IRS maximums listed above. Your contributions to a worksite employee’s UMB HSA will be billed to you on your monthly benefits invoice. Your contributions will be remitted monthly to UMB and deposited directly into each employee’s UMB HSA.

Please note: The amount you contribute to the HSAs of worksite employees electing Family (EE + Spouse, EE + Child(ren) or EE + Family) coverage must be greater than or equal to the amount you contribute to the HSAs of worksite employees electing Employee Only coverage.

HSA employer contributionsWorksite employee contributions will be collected from worksite employees in the form of pretax salary reductions under the ADP TotalSource® cafeteria plan, remitted by direct deposit to UMB and credited directly into each worksite employee’s UMB HSA.

HSA account maintenance feeUMB charges a monthly account maintenance fee of $1.50 for each worksite employee who opens a UMB HSA. You can elect, by class, who will be responsible for paying the maintenance fee. If you elect to cover the maintenance fee on behalf of a worksite employee, this fee will be billed to you monthly in conjunction with your employer HSA contributions (if any). If you don’t elect to pay the monthly UMB HSA maintenance fee, this fee will be deducted directly from each worksite employee’s UMB HSA on a monthly basis.

Health Savings Accounts for Your EmployeesADP TotalSource®

Health Savings Account (HSA)

If you elect to offer one or more High Deductible Health Plans (HDHPs) to your eligible worksite employees, any worksite employee who elects HDHP coverage will be eligible to open a Health Savings Account (HSA) through UMB. As an employer, you can elect to contribute toward a worksite employee’s UMB HSA.

If you have questions regarding the UMB HSA, please discuss them during your Open Enrollment meeting with your ADP TotalSource Human Resource Business Partner.?