Page 15 | Duncan Supply Company, Inc.| Plan Year 2025 Open Enrollment This booklet provides only a summary of your benefits. All services described within are subject to the definitions, limitations, and exclusions set forth in each insurance carrier or provider’s contract. IRS 2025 Maximum Contributions IRS Max Contributions IRS Post Age 55 “Catch-up” Employee $4,300 $1,000 Family $8,550 $1,000 Your UMB Health Savings Account (HSA) is an excellent tool for managing your health, your family's health and your financial health. The UMB HSA allows you to pay for your current healthcare expenses or to save monthly for future qualified expenses. Opening your UMB HSA is easy. You can complete all your enrollment forms online. A Health Savings Account (HSA) is a consumer-oriented, tax- advantaged savings account that is always combined with a Consumer Driven Health Plan (CDHP). HSA earnings grow tax-deferred and qualified withdrawals are tax-free without “use it or lose it”. Money not used in your Health Savings Account can be rolled over to the following year. HSA funds can be used for all qualified medical expenses, including medical services, as well as eyeglasses, dental procedures, prescription drug coverage and over-the-counter medications provided you submit a prescription from your provider. See IRS Publication 969 for more information and a listing of Qualified Eligible Expenses at www.irs.gov. To qualify for an HSA, you must meet the following requirements, as defined by the IRS: • You must be covered under a Consumer Driven Health Plan • You have no other health coverage except what is permitted by the IRS • You are not enrolled in Medicare • You cannot be claimed as a dependent on someone else’s tax return If You Will Be Turning 65 Active employees turning 65 have the option to accept or decline enrollment in Medicare, including Medicare Part A. • Employees who accept enrollment in any part of Medicare are no longer eligible to make or receive contributions to an HSA. • If you elect Medicare at age 65, your maximum HSA contribution for the year you elect will be prorated by the number of months you were not enrolled in Medicare. • Employees who decline enrollment may continue to make and receive contributions to an HSA. • Qualified distributions remain tax-free regardless of your eligibility to contribute. • Non-qualified distributions are taxable but no longer carry a 20% penalty after age 65. • Medicare Part(s) A, B, D and Medicare HMO premiums may be paid or reimbursed with tax-free HSA dollars. You cannot use your HSA to pay for Medigap premiums. 2025 Health Savings Account How Should You Manage Your HSA? • Contributions can be made with pre-tax money through payroll deductions, or contributions can be made post-tax and then deducted from your income when you file your income tax return. • Funds should be limited to qualified medical expenses • Keep receipts documenting medical expenses For questions regarding how to manage your HSA or when to stop contributing, reach out to Human Resources.