Health Savings Account

If you’re enrolled in the NVIDIA HSA, NVIDIA HSA Plus, or Kaiser HSA plan, you can lower your overall medical costs with a Health Savings Account (HSA). It’s a personal savings account to use for healthcare expenses—both now and in the future. Use your account to pay for anything that might be subject to your deductible, such as office visits, lab services, X-rays, and hospital stays.

Let’s See What It’s All About

How You Benefit

  • Our contribution. NVIDIA will contribute up to $3,000 to your account, depending on the plan you choose and how many people you cover. This amount is distributed in a lump sum in January each year. New hires will receive a prorated lump sum in the month following their hire date. You must also be an active employee on the day the company contribution is funded
  • No use-it-or-lose-it. Unlike a Flexible Spending Account, which you must spend before the annual deadline, your HSA balance rolls over each year and can keep growing
  • It’s flexible. Spend your HSA on current health expenses, or let your balance grow and save your funds for when you need them—even in retirement
  • Triple tax advantages. This means:
    • 1. You don’t pay federal taxes on the money you save*
    • 2. Your balance earns interest—also tax-free
    • 3. You don’t pay taxes on the money you withdraw, as long as it’s used for qualified healthcare expenses
  • Investment opportunities. Once your HSA balance reaches a certain amount, you can invest your funds to make them grow faster. After you open your account, you can learn more about the investment options from Fidelity
  • It’s always yours. Your entire HSA balance and any contributions—yours and NVIDIA’s—are yours to keep forever, even if you leave NVIDIA or retire

* Applies to federal taxes only. Alabama, California, and New Jersey impose state taxes on HSA funds.

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How It Works

How You Enroll

If you enroll for the first time in the NVIDIA HSA, NVIDIA HSA Plus, or Kaiser HSA medical plan, your Health Savings Account will be automatically opened** for you. All you need to do is choose a contribution amount (if any), agree to Fidelity’s terms and conditions, and activate your account.

** Fidelity may reach out if there are issues opening your account.

Your Contribution

You can contribute up to the IRS maximums each year. The limits are:

  • Individual coverage: $3,550 for 2020
  • Family coverage: $7,100 for 2020

If you’re age 55 or older, you can contribute an additional $1,000 in catch-up contributions.

NVIDIA’s Contribution

In 2020, we’ll contribute up to $3,000 into your account.

Note: Employees in the NVIDIA HSA medical plan will get a contribution of $2,000, $2,500, or $3,000.

NVIDIA's contribution for the full year is made in late January. You must be actively employed on the day NVIDIA’s contribution is made to be eligible for the company contribution. (New hires will receive a prorated company contribution in the month following their hire date. For example, if your hire date is in Jan., you’ll receive the contribution in Feb.)

How You Can Spend The Funds

Use HSA funds to pay for qualified healthcare expenses for yourself and your dependents. Examples include:

  • Deductibles
  • Coinsurance
  • Prescription drugs
  • Alternative medicine, including acupuncture and chiropractic services

A full list of eligible expenses is maintained in IRS Publication 502—Medical and Dental Expenses.

How You Access The Money In Your HSA

Fidelity is the administrator for our HSA. That means that they pay and process your HSA reimbursements. After you open your account, they’ll send you more information about how to pay for qualified expenses using your HSA. In the meantime, here’s the overview:

  1. After your HSA account is opened with Fidelity, you’ll receive an HSA debit card from Fidelity that you can use to pay for qualified health expenses (you'll need to have funds in your account to cover expenses). It’s the most convenient way to pay. You can use it at any doctor’s office, pharmacy, or other provider that takes debit cards.
  2. You can also use Fidelity BillPay®, which lets you make online payments. If your provider offers electronic billing, you can link them to Fidelity BillPay and receive an email notification when your bill is ready to view on the Fidelity website.
  3. Your third option is to request checks from your HSA and pay expenses with them.

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Who Is The Right Fit For An HSA

If you enroll in the NVIDIA HSA, NVIDIA HSA Plus, or Kaiser HSA plan, the HSA is a perfect partner to help you cover any out-of-pocket costs. Those who will benefit most in those plans:

  • Use their plan mainly for routine care and prescriptions
  • Aren’t managing a chronic or recurring condition
  • Can easily cover the deductible if a major medical event occurs

Is the NVIDIA HSA, NVIDIA HSA Plus, or Kaiser HSA Right for You?

Q: Do you consider yourself generally healthy?

Yes: Enroll.

No: We’ve got information to help you choose a different plan.

Q: If you had to, would you be able to afford $1,250 to $5,000 in medical expenses for yourself and your family?

Yes: Enroll.

No: If you can’t answer yes to one or both questions, the HSA plans may not be the best choice for you.

Frequently Asked Questions

Following is a short list of some of the most commonly asked questions. For more FAQs, review the HSA FAQ.

 

Am I eligible for an HSA?

First, you must be eligible for an NVIDIA medical plan and be enrolled in either the NVIDIA HSA, NVIDIA HSA Plus, Kaiser HSA, or Blue HSA Gold plan. You are not eligible for the HSA if you:

  • Are enrolled in Medicare
  • Have dual medical coverage with another healthcare plan that is not a high-deductible health plan
  • Your spouse or domestic partner has a Health Care Flexible Spending Account
  • Can be claimed as a dependent on someone else’s tax return
  • Are covered by veterans’ benefits and have used Veteran Affairs medical services within the previous three months
  • Are enrolled in or covered by a general purpose Flexible Spending Account (versus a Limited Purpose) or full purpose Health Reimbursement Arrangement (HRA) through a spouse’s employer

Can I change my contribution amount?

Yes, at any time.

When is NVIDIA’s contribution added to my HSA?

NVIDIA's contribution for the full year is made in late January. It should appear in your Fidelity account within 3–5 business days from the funding date. New hires will receive a pro-rated contribution in the month following their hire date.

Whose expenses can I pay through my account?

Yours and, generally, those of any family members who meet the IRS definition of a tax dependent.

How do I pay for care?

You have four options:

  1. Use your HSA debit card at the point of service.
  2. Set up Fidelity BillPay® for Health Savings Accounts, which allows you to make online payments. If your provider offers electronic billing, you can link them to Fidelity BillPay and receive an email notification when your bill is ready.
  3. The Fidelity HSA checkbook works just like the HSA debit card to pay at the point of service.
  4. Pay out of pocket and reimburse yourself later.

After you open your HSA, you’ll get more information about your payment options from Fidelity.

When will my HSA debit card arrive, and how do I request additional cards?

You will automatically receive an HSA debit card in approximately two weeks. If not, and you would like to request one, go to Fidelity.com, click the “Customer Service” link, “I want to find a form”, in the filter, select "Health Savings Account", and then “Debit Card Application - Health Savings Account (HSA)” to download the HSA Debit Card Application for yourself or the "Debit Card Application - Health Savings Account (HSA) - For Additional Users" to request an HSA debit card for your spouse or dependent(s).

Can I use the account to pay for non-medical expenses?

Yes, but you’ll be taxed on the funds and will also pay a 20% penalty. Once you’re 65, you’ll still be taxed but will not have to pay the penalty.

Can I use any other Flexible Spending Accounts with the HSA?

Yes, you can use the Limited Purpose FSA, but not the Health Care Spending FSA.

FSA versus HSA – What’s the Difference?

Which plans are eligible?
FSA Kaiser HMO
Cigna PPO
Waive health coverage
HSA HSA
HSA Plus
Kaiser HSA
Holding on to your funds
FSA Use-it-or-lose-it, per IRS guidelines —That means you must use the money in your account before the stated annual deadline or you will forfeit it.
HSA

They’re yours to keep—forever.

Whether you stay, leave, or retire, the money in your HSA is always yours.

What This Means for You Less stress about what to use your money for and more opportunity to save for the future.
Deciding how much to contribute
FSA You must make an election each year during open enrollment or during a qualified life event.
HSA Change your contributions at any time to meet your needs.
What This Means for You The HSA provides financial flexibility, while the FSA is a financial commitment.
Tax advantages
FSA The money you contribute and spend is pre-tax.
HSA The HSA triple tax advantage means:
  1. You don’t pay federal taxes on the money you contribute.*
  2. Your balance can earn interest—also tax-free.
  3. You don’t pay taxes on the money you withdraw, as long as it’s used for qualified healthcare expenses.

* Applies to federal taxes only. Alabama, California, and New Jersey impose state taxes on HSA funds.

What This Means for You With the HSA, you have the opportunity to earn interest, tax-free, on money you can use also tax-free.
Contribution limits
FSA From $120 to $2,750 (limits may vary based on plan year)
HSA

$3,550 for individuals
$7,100 for families

If you’re age 55 or older, you can contribute an additional $1,000 in catch-up contributions. Employees do not need to contribute in order to receive the company’s contribution.

What This Means for You Reduce more of your taxable income with the HSA.
Employer contributions
FSA $0
HSA Up to $3,000 per year
What This Means for You You’ll receive HSA contributions from NVIDIA to help offset your care and save for the future.

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