Departing Aspen
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Pay Statements & W-2s 401k Retirement Rollover COBRA – Benefits Continuation COBRA – Coverage Pricing Maintain Your HSA HSA Future Fees Your HSA from WageWorks FSA Deadlines Resources
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Pay Statements & W-2 : DOWNLOAD FINANCIAL RECORDS :
W-2s will be available to download at COB January 31st. To retrieve your Pay Statements 1. Log in to ADP at workforcenow.adp.com
*Note: for best results please use internet explorer
2.
Click Myself > Pay > Pay Statements
To retrieve your W-2 1. Log in to ADP at workforcenow.adp.com
*Note: for best results please use internet explorer
2. 3.
Click Myself > Pay > Annual Statements Select and the year and download
Need help logging into ADP? 1. Go to workforcenow.adp.com
*Note: for best results please use internet explorer
2. 3.
Click on “Forgot Password� Follow through the ADP steps to reset password
If you have any issues resetting your account, accessing your W-2 or Pay Statements, please call ADP Tech Support at 855-547-8508.
Retirement Rollover : MAINTAIN YOUR 401K :
Once a full month has passed after departing from Aspen Heights, you can request a Rollover Out via the phone or through the website. To request over the phone: Call the Participant Self Help Line at 800-695-7526 (M-F 8am-9pm EST). Inform them you are no longer with Aspen Heights and want to roll your funds out of the plan. Be sure to ask about tax consequences To request online: Login to www.mykplan.com, click Loans and Withdrawals at the top, click Withdraw Funds After Employment, then click Online Termination. Select if you want to cash it out, roll it over, etc. It will walk you through the steps. Once requested either online or over the phone it will send an approval request to Aspen Heights. If you want to roll your funds out of our account and into a Roll Over IRA, you’ll want to wait until you have started the IRA and then request the roll over via the methods above. If you have a 401k balance less than $5,000 you will be required to roll your funds out of our plan at some point after terminating. For any 401k related questions, please contact the ADP 401k Team at 800-695-7526 (M-F 8am-9pm EST).
COBRA
: CONSOLIDATED OMNIBUS BUDGET RECONCILIATION ACT :
Benefits Continuation Information for Departing Employees: If you are enrolled in our Medical, Dental or Vision insurance, you will have coverage through the end of the month in which you terminate (for example, if you terminate any day in November 2018, your coverage will last through 11/30/18). After your termination date, ADP/WageWorks will mail you information about extending your insurance coverage by utilizing COBRA. It is very important to keep your address up to date in ADP for at least 1 year after terminating. Please do this by following the instructions below: Workforcenow.adp.com > Myself > Personal Information > Personal Profile. If you need assistance logging in, you can reset your password yourself by clicking on “Forgot Password� under the login fields, or you can call ADP at 855-547-8508. You have 60 days to enroll in COBRA and the coverage will backdate to when your coverage ended (so in our example above, coverage would backdate to 12/1/18). Please note that we will be going through Annual Enrollment to choose 2019 benefits from November 1-15, 2018. Note: You may stay on COBRA for up to 18 months.
COBRA
: COVERAGE PRICING FOR YOU AND YOUR FAMILY :
2018 COBRA Premium Per Month BCBSTX MEDICAL Traditional Co-Pay
HDHP
Employee Only Employee + Spouse Employee + Children Employee + Family
$443.15 $1,019.27 $797.67 $1,373.79
Employee Only Employee + Spouse Employee + Children Employee + Family
$263.56 $606.18 $474.39 $817.01
MetLife Dental Employee Only Employee + Spouse Employee + Children Employee + Family
$33.73 $70.01 $94.72 $130.98
MetLife Vision Employee Only Employee + Spouse Employee + Children Employee + Family
$6.55 $11.02 $11.24 $17.79
2019 COBRA Premium Per Month BCBSTX MEDICAL Traditional Co-Pay (AKA BCBSTX PPO-MM09) Employee Only $509.61 Employee + Spouse $1,172.16 Employee + Children $917.33 Employee + Family $1,579.86
HDHP (AKA BCBSTX HDHP-RMH3) Employee Only Employee + Spouse Employee + Children Employee + Family
BCBS Dental Employee Only Employee + Spouse Employee + Children Employee + Family
Dearborn Vision Employee Only Employee + Spouse Employee + Children Employee + Family
$32.45 $67.35 $91.12 $126.00
$303.09 $697.10 $545.55 $939.56
$6.29 $11.94 $12.58 $18.50
Maintain Your HSA : HEALTH SAVINGS ACCOUNT :
To upload receipts for your HSA purchases in WageWork’s HSA Management Website: 1. Log in to WageWorks at https://flexreservehsa.wageworks.com 2. Click “ Record & Review Expenses” in the middle box 3. You need to upload itemized receipts for all qualifying medical expenses, both those paid with your HSA Debit Card AND those paid for with cash/check/credit card. IMPORTANT: Keep a copy of these receipts for yourself - If you are ever audited you need to be able to show that these funds were only used on eligible expenses. To Reimburse Yourself for Medical Expenses NOT Paid For With Your HSA Debit Card: 1. Log in to WageWorks at https://flexreservehsa.wageworks.com 2. Click “Pay Yourself Back” in the middle box 3. Don’t forget to still upload your receipts To check your balance, create an account at Optum Bank (if it is your first time click Register Now): https://login.optumbank.com To request a new Optum Bank HSA Debit Card: Contact Optum Bank at 866-234-8913.
HSA Future Fees : MANAGE YOUR HSA :
What to do With Your HSA: You should always keep a copy of your itemized receipts for HSA expenses and your HSA spending history. Once you close your WageWorks account, you will no longer have access to any receipts or history stored in their software so make sure to download and save a copy in case you are ever audited. WageWorks FlexReserve is your HSA management portal but your HSA funds are actually in an Optum Bank HSA account. If you keep access to the WageWorks HSA portal and/or your funds in your Optum Bank HSA account, you will be responsible for the $4 per month maintenance fee (in addition to any other participant-level fees like if you have your funds in an investment account). The fee will be deducted monthly from your HSA account balance. If you drain your account funds to zero, make sure you close your Optum and WageWorks accounts to prevent the continued fee. if you have further questions, please contact Customer Support Team at WageWorks: (866) 384-8549
Maximize HSA Usage Maximize Tax Savings Moving Forward With Your HSA When you leave your company, your company’s HSA program or your employer decides to leave WageWorks, you become responsible for the HSA account fees that your employer currently covers.
Important Points •
The money in your HSA is yours to keep. You can continue to use it for health expenses.
•
There is a $4 monthly fee to continue using your Optum Bank HSA with WageWorks.
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y default, your account at WageWorks and Optum Bank will remain open. The fee will be deducted B from your balance. If you wish to avoid these fees you will need to move your funds and/or close your account with both Optum Bank and WageWorks.
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You might want to change your email to a personal email in case your work email is no longer active.
If You Have a Zero Dollar Balance You will need to close your account with both Optum Bank and WageWorks. You can do this by calling 1-866-234-8913. This will close both your Optum Bank account and your WageWorks profile.
If You Have a Balance Greater than Zero Dollars •
•
•
ou can continue using WageWorks with Optum Bank: Y You will be charged a $4 monthly fee. By default, both your WageWorks profile and the Optum Bank HSA will remain open. The fee will be automatically deducted from your HSA account balance each month. ou can stop using WageWorks but keep your Optum Bank account: Y You must call WageWorks at 1-866-384-8549 and state that you would like to delete your WageWorks profile. After we confirm your identity, we will delete your WageWorks profile. Your monthly fee will be determined by the type of account you have and will be automatically deducted from your account. You will no longer have access to your account at WageWorks. ou can stop using Optum Bank: Y You will need to complete a rollover form to move your money to another bank. If you simply withdraw the funds and they are disbursed directly to you, it will count as a withdrawal and could be subject to normal taxes, as well as a 20% penalty tax. Closing your Optum Bank account will also close your WageWorks account.
© 2018 WageWorks, Inc. All rights reserved.
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Possible Concerns What happens to all my history if I stop using WageWorks? Once the account is closed, you will no longer have access to the HSA history with WageWorks. You can download this history for your safekeeping before the account is closed. Before the WageWorks service is discontinued: • Log in to your WageWorks account (https://flexreservehsa.wageworks.com) and print out your journal data and receipts. • Access the journal entries by clicking on Report and Review Expenses on the home page. • Next click Filter Expense List to select your data range (by calendar year is recommended) and click Download Expenses. • Repeat as needed to capture each year the service was used. What do I lose by not having WageWorks? WageWorks FlexReserve and record keeping are the primary tools that are not found with other servicers. There are numerous advantages to continuing with WageWorks: • Access to patented HSA management software featuring health expense identification and recording, Health Spending Journal and auto-sweep HSA reimbursement facilitating $0 accounts • Receipt storage for the life of the WageWorks FlexReserve HSA account • Unlimited money transfers out of the account • Access to WageWorks FlexReserve phone and email support Are there custodians that do not charge a fee? Monthly maintenance fees are very common for HSAs. Still, it is likely that you would be able to find a custodian that does not charge a fee but with minimal support and software. How do I move my money to a different custodian? The steps for transferring funds to a new custodian may vary by custodian. In general, you must first open an account with a new HSA custodian. Once you have done this, you must fill out a rollover form that your new custodian provides. Some custodians have a form for rolling over funds and opening an account at the same time. Once you have filled out one of those forms, you will submit the form to your new custodian. This custodian will then send it to Optum Bank. When Optum Bank receives this form, they will first freeze the account to assure there is no pending activity. Once all pending activity clears, a check will be mailed to your new custodian. You will not have access to the money from the time Optum Bank receives the rollover request until it reaches your new account. You will also lose access to WageWorks when your account at Optum Bank is closed.
© 2018 WageWorks, Inc. All rights reserved.
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Š 2018WageWorks, WageWorks, All rights reserved. Š 2018 Inc. Inc. All rights reserved.
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Your FSA : MANAGE YOUR FSA :
Flexible Spending Accounts (FSA) for Medical or Dependent Care: These plans and their rules are regulated by the IRS. FSA funds are use-it-or-lose-it by the date BEFORE your termination date OR by December 31st of that calendar year (whichever happens first). Said on or after your Termination date. You will have 30 days AFTER your termination date to submit any outstanding claims (for dates of service BEFORE your termination date) for reimbursement. FSA for Dependent Care funds can only be used for licensed dependent care. A “dependent “ is a child under 13 years of age (until the day of their 13th birthday) and adult dependents who can't take care of themselves. Please keep in mind that they must live with you and be claimed as dependents on your tax return. Please review the eligible expense list to see what's covered under your Dependent Care FSA. This can be found at WageWorks.Com under their Frequently Asked Questions section. Questions? Contact the FSA Employee Service Center at #888-557-3156. View the FSA Account at https://myspendingaccount.wageworks.com.
RESOURCES ADP: https://workforcenow.adp.com 855-547-8508 resetting passwords, updating your address, download pay statements and W-2 tax documents ADP 401k: www.mykplan.com 800-695-7526 rollovers out, address updates COBRA: benedirect.wageworks.com 800-526-2720 benefits continuation – you won’t exist in the COBRA system for up to 10 days after your termination processes through ADP First Timers: select “click to register” WageWorks HSA Management Portal: https://login.optumbank.com 866-384-8549 Optum Bank HSA: https://flexreservehsa.wageworks.com 866-234-8913 Actual HSA $/account WageWorks FSA (medical and dependent care): https://myspendingaccount.wageworks.com/ 888-557-3156 Employment Verifications: provide the payroll@ahpliving.com email address to anyone looking to do an employment verification.