Lumenos High Deductible Health Plan
Riverside will again offer the Lumenos High Deductible Health Plan (HDHP) and Health Savings Account (HSA). This is a health plan with a health savings account. There are no significant changes to the Lumenos HDHP plan design.
Using an HSA is kind of like giving yourself a raise, because you save the money you would have paid in taxes. If you divert $3,300 annually, for example, and your combined federal and state income tax rate is 40 percent, that amounts to $1,320 in savings.
Enrollment guide. Click here for a digital version.
- Side by side plan comparison: Click here to see how the two plans stack up.
- View 2014 Summary of Benefits Coverage (SBC)
- View 2014 Frequently Asked Questions
- View 2014 HSA Basics
Only preventive services and some preventive prescription medications are covered at 100%. Once you meet the calendar-year deductible, you pay 20% coinsurance for all In-Network services.
New for 2014: Contribution limits
The HSA annual contribution limits will increase to $3,300 for an individual and $6,550 for a family. Participants age 55 and over may contribute an additional $1,000 annually.
Please note that to be eligible for participation in the Health Savings Account, team members must be enrolled in the Lumenos HDHP and have no other health insurance, including Medicare. Also, this Health Savings Account is different from the Flexible Spending Account.
Employees who receive the My Healthy Lifestyle incentive will have that amount put into their HSA, and it does affect their contribution limits:
HSA contribution limits, individual
|Age||Full MHL incentive||No MHL Incentive|
|Under age 55||$2,550||$3,300|
|Age 55 and over||$3,550||$4,300|
HSA contribution limits, family
|Mid-level MHL incentive||No MHL Incentive|
|Under age 55||$5,800||$6,175||$6,550|
|Age 55 and over||$6,800||$7,175||$7,550|
For any questions about the incentives, visit the My Healthy Lifestyle page.
Product enhancements for the ACS|BNY Mellon HSA Solution (The HSA Solution)
The ACS|BNY Mellon HSA Solution (The HSA Solution) has changed its name to BenefitWallet. As a result of their name change, their website has also changed. Next time you want to access your Health Savings Account, you can log in directly to www.mybenefitwallet.com. You will receive the same great service and features under the new BenefitWallet brand.
- Second Debit Card - A second debit card is available to you at no charge. To request the second card, log on to the Web and navigate to the Account Holder Services and then select DEBIT CARD. Only you may request an additional card.
- Mobile access - Access HSA account balances and transaction information from your mobile or smart phones. Check HSA account balance on-the-go as well as make changes to your account profiles (for example mailing addresses and phone numbers). Please note: you will need a security code for first time logon using a mobile device but the account password remains the same.
- Direct Pay HSA fund transfers - Reimburse yourself directly for qualified out-of-pocket expenses by transferring funds from your HSA account to a personal checking or savings account online. In addition, new account-to-account transfer capabilities allow funds to be deposited into HSAs from personal accounts. Learn more on the Direct Pay HSA tab.
- Investment threshold - Begin investing when your HSA checking account balance reaches $1,000 — this provides the opportunity to set up an HSA Solution Investment Account and begin to diversify accumulated HSA savings into a wide selection of mutual funds even sooner. If you currently have an automatic investment set up, it may be impacted by this change.
If you have questions please contact The HSA Solution Contact Center at the number listed on your account statement.
Q. What are the 2014 Health Savings Account Annual Contribution Limits?
A. The 2014 HSA annual contribution limits are $3,300 for an individual and $6,550 for a family. Participants age 55 and over may contribute an additional $1,000 annually.
Q. How does the My Healthy Lifestyle incentive Riverside contributes to my Health Savings Account (HSA) incentive affect my HSA pre-tax contribution limit?
A. The HSA annual contribution limits apply to the combined total of the employee and employer contributions, if applicable. For example, if you are an individual age 55 or over and you receive the full $750 My Healthy Lifestyle incentive, your Health Savings Account contribution would be limited to $3,550. Please refer to the charts above for further information.
Q. How does Employee Self Service (ESS) know what my annual Health Savings Account (HSA) contribution limit is?
A. The ESS system uses employee groups based on criteria attached to your employee record to manage benefits coverage and contributions. However, the system is not sophisticated enough to read your 2014 Benefit Open Enrollment elections and know in real time what your HSA limit should be. Thus, Benefits Services sets the HSA contribution to the highest limit based on an individual's age and My Healthy Lifestyle (MHL) incentive eligibility. Benefits Services performs a series of audits after the close of Open Enrollment prior to any data being transmitted to carriers and before the upcoming year's payroll deductions begin. One such audit pertains specifically to the HSA contribution limits. Through the audit process, Benefits Services compares plan and coverage selections to the HSA contribution elections and adjusts accordingly. The limit you may observe in ESS represents the limit based on your age and your MHL incentive eligibility. If, for example, you are age 55 and over, you elect the HDHP, employee-only coverage, and you qualify for a full MHL incentive, your 2014 HSA contribution limit is $3,550. In this scenario, if you were to make a HSA contribution election of more than $3,550, Benefits Services would adjust your contribution accordingly prior to the first payroll deduction in January.
Q. Where do my HSA contributions go once they are deducted from my paycheck?
A. Riverside provides for HSA pre-tax payroll deduction to BenefitWallet (formerly ACS|BNY Mellon HSA Solution (The HSA Solution)) the HSA service provider offered through Anthem. For HDHP participants eligible for a MHL incentive, Riverside's HSA contribution also will be directed to BenefitWallet.
Q. What if I have a HSA account with another service provider and/or previous employer?
A. BenefitWallet accepts transfers "in" from other HSA service providers/accounts. If you wish to consolidate your accounts, contact Riverside Benefits Services at (757) 534-5544 for the appropriate form.